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Companies belonging to the apparel sector will be affected directly and indirectly by a number of disruptive opportunities and challenges that will jeopardize their corporate longevity over the coming decades. While described in detail within Quantumrun’s special reports, these disruptive trends can be summarized along the following broad points:
- First off, 3D fabric printers that can ‘print’ bespoke blazers and sewing robots that can sew together more t-shirts than 20 humans can in a single hour will result in clothing manufacturers being able to significantly cut their manufacturing costs for the masses, while also offering more customized/tailored clothing options to individuals.
- Similarly, as clothing production becomes more automated, the need to outsource production will be replaced with domestic automated clothing factories that will cut down on shipping costs and speed up clothing/fashion cycles.
- Automated and local and customized clothing production will allow for clothing lines to be tailored to localities instead of for national markets. Fashion insights will be gathered digitally by scanning local news/social feeds and then clothing to reflect said news/insights/fads/trends will be delivered to said localities shortly thereafter.
- Advances in nanotech and material sciences will result in a range of new materials that are stronger, lighter, heat and impact resistant, shapeshifting, among other exotic properties. These new materials will allow for a range of new clothing and accessories to become possible.
- As augmented reality headsets become popularized by the late 2020s, consumers will begin superimposing digital clothing and accessories on top of their physical clothing and accessories to give their overall look a more interactive and potentially supernatural flare.
- The current physical retail meltdown will continue into the 2020s, resulting in less physical outlets to sell clothing. This trend will eventually encourage apparel companies to invest more into developing their brands, developing their online ecommerce channels, and opening their own brand-focused physical stores.
- Global Internet penetration will grow from 50 percent in 2015 to over 80 percent by the late-2020s, allowing regions across Africa, South America, the Middle East and parts of Asia to experience their first Internet revolution. These regions will represent the biggest growth opportunities for online apparel companies looking to expand into new markets.
These broad trends will have far-reaching effects on the apparel sector that will influence the sector’s long-term development.
To stay informed about these and other trends, as well as the emerging opportunities and threats facing the apparel sector, consider investing in Quantumrun Foresight sector forecast reports. Contact us today to learn more.
