Luxury Fashion gets innovative with Visual AI
The Luxury Fashion market is one of the most competitive in the world, with brands today competing for ever-smaller slices of the global luxury pie.
Many Luxury Fashion brands are struggling to maintain their status and have been forced to look for new and innovative ways to set themselves apart from the competition.
Today the bricks-and-mortar stores remain the premier sales channel in all luxury markets, but omnichannel is the immediate future. By 2025, it is predicted 25% of luxury purchases will be online of which, 45% of online shoppers will be Gen Z and Millenials. This represents an ever more evident challenge for Luxury companies, especially since the Covid-19 pandemic where 35-45% of shoppers are continuing to spend more online than in the past.
The new tech-savvy consumers are changing the traditional mindset of Luxury Fashion companies as they look at how to address these needs and the ever-emerging omnichannel importance. So, it’s not a surprise one of the latest trends in the luxury fashion world is the use of visual AI technology.
In this article, we’ll explore how visual AI can be used by luxury fashion brands to build better relationships with customers and drive more revenue.
How Luxury Fashion Brands can use Visual AI to Stay On-Top (and become more competitive)
Buying luxury products means buying a dream of identity, status and exclusivity; but now, luxury fashion is not only an exclusive product. Modern luxury is in customer experience, in personalization. That’s where artificial intelligence (AI) comes in.
The latest trend in the Luxury industry is the use of Visual AI technology to enhance the customer experience, drive sales, and glean valuable insights from data. Luxury Fashion embraces Visual AI to elevate the whole customer shopping experience (from awareness to purchase) and offer personalized product recommendations.
Here we will explore 3 real-world use cases of Visual AI to Luxury Fashion.
Top 3 visual AI use cases to Luxury Fashion
1# Visual AI-Powered chatbots: Personal shopper and Style advisor service in real-time
It’s virtually impossible to visit a Luxury Fashion website without encountering some form of AI-powered chat technology, designed to help customers find the perfect product. More and more, Luxury brands, for example Dior, are using AI-powered chatbots to improve the customer experience.
With Visual AI-powered chatbots, luxury fashion brands can bring a personal shopper and style advisor service in real-time, from somewhere. The luxury brands do allow image sharing on the chat, along with delivering mix-and-match options to complete the look aligned with a product style and contextual and situational behavior. A new revolutionary way to personalize every outfit suggestion.
2# Personalized every touchpoint: from ecommerce to social campaigns
One way Luxury brands can make a customer emotional connection is by using personalization in every touchpoint. Tailoring content and product recommendations based on the specific needs and preferences of individual customers. The goal is to deliver personalized content through channels such as email, social media campaigns, etc. Personalization can help a customer connect with the brand on an emotional level.
For example, a luxury brand could use AI to instantly determine which fashion goods a customer likes and then send them personalized recommendations. It can offer suggestions of similar products.
Luxury brands could leverage AI to deliver personalized content based on past purchases from their customers, too. For example, if a customer previously purchased an expensive bag, AI could be used to recommend outfits to complete the look.
The role of AI in a personalization customer experience is essential. Wide Eyes provides the most cutting-edge AI technologies – based on image recognition and deep learning – for the Fashion Industry. Their personalization solutions that combine real-time behavioral data with visual AI, allow retailers to create personalized experiences across channels.
More and more luxury customers are now online. With so many options to shop luxury goods, modern consumers will not tolerate poor product discovery experiences. They now expect not only to find what they’re looking for easily and quickly, but for luxury fashion e-commerces and marketplaces to also personalize their product discovery experiences.
3# Personalize Product Discovery Experiences to deliver value
Personalizing the discovery experience, powered by Visual AI, becomes today the most effective way to find the items customers desire in a seamless way. This is the key to keeping customer loyalty, even in an online environment.
It is this tailored experience that Luxury consumers demand, and Wide Eyes’ visual AI solutions can accelerate and answer Luxury fashion houses’ business needs. There is no doubt about it, it is time for Luxury fashion to meet the needs of the truly modern shopper and embrace visual AI. Wanna talk?