Fashion, design industry forecast to be worth $3 trillion by 2030 – News

As a luxury shopping experience in an ever-changing online and in-store environment, Dubai is well-positioned to capture the zeitgeist and lead this new era of fashion and design.

Shopping remains a key component of Dubai’s appeal as a tourist destination. — file photo

Ahmed Al Haja/Perspective

Release: Wednesday, December 28, 2022 14:22

Last update: Wednesday, December 28, 2022 14:23

As the winter design and fashion season kicks off again in Dubai, what lies behind the doors of the world-famous fashion house is a series of surprises and surprises. What makes the Fall/Winter 2022-23 collections special is how those seasons are presented to the world and how consumers are immersed in the world of high fashion. Is it possible?

Fashion and design have gone hand in hand with technology and innovation for decades. These trends helped shape and build the industry into one of the largest in the world, projected to be worth around $3 trillion by the end of the decade. These numbers are truly staggering, but collaborations and crossovers with sports and technical wear, alongside well-known fashion houses, have fueled its growth.

We have seen artificial intelligence at the forefront enhancing and expanding the shopping experience, gathering data on trends to boost sales and predicting what demand will be in the months and years ahead. While inventory-related guidance helped bolster the business’ bottom line, chatbots helped get the latest trends via smartphone.

Meanwhile, outlets with pre-installed touch screens offer enhanced customer experience and customized product suggestions. Each plays a role in shaping the fashion industry’s solid future and ensuring its evolution continues.

Luxury brands are the pinnacle of the industry, and online shopping has changed the face of fashion, but there will always be a place for the traditional brick-and-mortar. Mall visitor numbers in the United Arab Emirates have risen from an average of 4.1 malls visited in 2021 to 4.3 he’s visited this summer, with demand for fashion on the rise. According to regional data, 60% of fashion was purchased in physical stores.

Nothing beats wearing the finest handmade Italian leather brogues and ultra-soft cashmere sweaters. These are experiences that have yet to be replicated in the online world, and until that happens, real-life experiences will remain central to what the industry is trying to achieve in customer satisfaction.

However, the boom in online shopping is supporting growth in the delivery industry, and demand is pushing the quality of service. It’s not uncommon for online stores to offer free shipping and returns within 100 days of purchase. Options that were almost unimaginable a few years ago are now commonplace and mostly expected by consumers.

The development of secure online payment infrastructure has further increased consumer confidence. Technology companies like are rapidly emerging as one of the market leaders with cloud-based end-to-end payment platforms serving merchants and consumers. Secure online payment systems are just one cogwheel of modern retail, but they are the foundation of our commercial model.

According to RedSeer Strategic Consulting, online shopping’s share of the UAE retail market will reach 20% by 2025. The trend is likely to continue its upward trajectory thanks to more regular purchases and average order value. Fast fashion is on the rise as the number of platforms catering to new trends among a wide range of fashionistas and style shoppers is increasing.

6thStreet is one of the region’s pioneers to illuminate the hybrid mix of online and traditional shopping trends. The outlet has launched its first “phygital” store. It combines a digital and physical shopping experience at Dubai Hills Mall. It was a glimpse into the future of retail, with the flexibility and convenience of browsing online on a tablet to select items and physically trying them on in a fitting room. With his over 1,200 brands to browse and an impressive response time of just three minutes, 6thStreet showed what the designer’s shopping experience could look like in the near future and on a larger scale.

It’s a little too early to suggest whether this new approach has been wildly successful, but its courage to tap into new markets and adapt to the prevailing trends demanded by a new tech-savvy generation is nonetheless impressive. .

With Dubai’s numerous malls and a growing population that includes a sizeable share of the wealthy, the emirate is well-positioned to capture the zeitgeist and lead a new era of fashion and design. Shopping remains a key factor in Dubai’s appeal as a tourist destination, as daily spending by UAE tourists increased by 30% year-on-year in summer 2022. Footwear, fashion accessories and beauty have all achieved great success in this area.

Another project that sets a benchmark for other industries to follow is a recent partnership with Majid Al Futtaim and Cisco to create the store of the future in the Mall of the Emirates. Developing THAT concept stores in malls throughout 2022 has created new experiences for shoppers and a hit with those passing through the expansive halls of the Mall of the Emirates.

Visitors are taken on a futuristic retail journey predicted by Cisco’s core technology portfolio. Employing digital display canvas, lift and learn technology, magic mirrors and beauty mirrors, that concept store now takes the customer experience to an unprecedented level by moving beyond typical store analytics. Digital content displayed on in-store screens adapts to the customer’s perspective based on gender and age, enabling a more personalized shopping experience.

We may not yet have the futuristic Minority Report world that Tom Cruise brought us, but digital advertising customized to our own biometrics is not just a science fiction realm, but a reality. seems to be approaching

Ahmed Al Khaja is CEO of Dubai Festivals and Retail Establishment. The views expressed are his own and do not reflect the policies of the newspaper.

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