🚀AI could soon stand for "augmented innovation." In a recent report, Mintel argued that the remainder of this decade will be reshaped by the agility of artificial intelligence (#AI), which can give upstart brands a number of advantages, including: 🏋🏽♀️Algorithm-augmented product innovation 🏋🏽♀️Automated marketing campaigns and customer support 🏋🏽♀️Rapid, real-time consumer insights 🛒These capabilities will allow small brands to operate leaner teams than in previous indie beauty eras; at the same time, the rapid gathering of customer insights can help brands quickly migrate from direct-to-consumer to wholesale/physical retail, the report argues. 📅And, because AI never sleeps, #beauty is poised to enter an era of rapid innovation, with innovation cycles shifting from years to months. 🏃This will redefine "fast beauty" by creating a never-ending, real-time battle for white space, Mintel concludes. 💡So, if Mintel is right, things are about to pick up.
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💡 The Future of Fashion is YOU: Consumers can now co-create their dream garment with generative AI. Imagine this: using AI to design a one-of-a-kind sneaker with patterns, brought to life with a few simple prompts. Here's why this marriage of fashion and AI can be a game-changer: 🔹 Unmatched PERSONALIZATION: Forget mass-produced, off-the-rack experiences. Fashion, especially luxury, is about feeling special, and this technology allows you to create a piece that embodies your individual style. 🔹 Engagement and innovation: Beyond creating a garment, these INTERACTIVE experiences are fostering a deeper connection between brands and their customers, while giving brands valuable INSIGHTS into customer preferences. 🧠 Luxury brands like Versace and Loewe are also leveraging generative AI to create MARKETING content that features their products in innovative ways. Versace saw an increased video play rate of 1,460% on its AI-generated social media video, compared to standard content. ⚠️ Concerns about transparency and potential job displacement exist, but brands are taking steps like clear disclosures and responsible IP usage to navigate these issues. 🌟 LVMH also recently announced its deepened partnership with Alibaba, leveraging the tech giant’s AI capabilities to drive innovations in the China market, potentially in ads, content, CLIENTELING, customer service, e-Commerce, OMNICHANNEL interactive shipping experiences, and even INTERNAL operations like manufacturing and supply chain (Check out my recent LinkedIn post on this). We are already seeing many AI applications that WORK, successfully strengthening products and transforming customer relationships, while improving efficiency. And we’ll continue to see many more that redefine the future of fashion and retail. What do you think? What excites you most about AI in fashion and retail? Thank you Maghan McDowell for the interesting sharing on Vogue Business. #AI #Fashion #CoCreation #Content #Retail
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14% increase in revenue per visit. What would that mean for your next board meeting? Learn more about how the team at Fossil Group, Inc. achieved this by personalizing offers, increasing cart creation, and decreasing abandonment. Read the case study here→ #ecommerce #cro #AI https://lnkd.in/gHi4ABJs
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Fashion’s future is here—and it’s powered by AI. 👁️ With shoppers expecting brands to know their preferences and deliver personalised experiences, AI is set to transform fashion as we know it. Our Director of Paid Media, Katie White, recently attended Google Unfold in Milan, where industry leaders gathered to explore AI-driven solutions for retail and digital marketing. Top takeaways? AI is driving new ways to engage consumers, from smarter search and visual shopping tools to innovative campaign strategies. As Katie put it, “Exciting to see how AI can help us and our clients stay at the cutting edge of fashion and marketing.” 🔗 Click here to learn more: https://lnkd.in/dueNe4dh
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What do the world’s most valuable brands have in common? Kantar’s 2024 BrandZ report sheds light on the power of innovation and differentiation. Check out the key takeaways: Kantar BrandZ 2024 #BrandStrategy #AI
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What do the world’s most valuable brands have in common? Kantar’s 2024 BrandZ report sheds light on the power of innovation and differentiation. Check out the key takeaways: Kantar BrandZ 2024 #BrandStrategy #AI
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What do the world’s most valuable brands have in common? Kantar’s 2024 BrandZ report sheds light on the power of innovation and differentiation. Check out the key takeaways: Kantar BrandZ 2024 #BrandStrategy #AI
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What do the world’s most valuable brands have in common? Kantar’s 2024 BrandZ report sheds light on the power of innovation and differentiation. Check out the key takeaways: Kantar BrandZ 2024 #BrandStrategy #AI
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What do the world’s most valuable brands have in common? Kantar’s 2024 BrandZ report sheds light on the power of innovation and differentiation. Check out the key takeaways: Kantar BrandZ 2024 #BrandStrategy #AI
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Exciting insights from the State of the Industry report by BASIC/DEPT® on how fashion brands are embracing AI to innovate and enhance customer experiences in 2024! The top takeaways: ☑️ Fashion brands are leveraging AI across all facets of their industry - from designing products to marketing strategies and customer interactions. 🛍️ ☑️ AI budgeting is on the rise, with brands allocating more resources to AI-related projects to drive revenue growth through personalized marketing. 💰 ☑️ Customer-facing teams are leading the charge in adopting AI, using it for improved customer support, social media engagement, and ad operations. 👥 ☑️ The future of AI in fashion looks promising, with a focus on content generation, supply chain optimization, and enhancing customer experiences through chatbots and virtual assistants. 🤖 The key challenge lies in educating customers about the benefits of AI and addressing ethical concerns, but brands are optimistic about the potential AI holds for their growth and success. 🌟 🔗 https://hubs.ly/Q02KS4zY0 Stay tuned for more updates on how AI is reshaping the fashion industry and creating innovative solutions for brands and customers alike! #FashionTech #AIInnovation #CustomerExperience
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What do the world’s most valuable brands have in common? Kantar’s 2024 BrandZ report sheds light on the power of innovation and differentiation. Check out the key takeaways: Kantar BrandZ 2024 #BrandStrategy #AI
