60% feel shopping in metaverse to be norm in future: GoodFirms survey

Fashion

02 Aug `22

2 min read

Achieving net zero emissions in fashion manufacturing, improving fashion buying experience, high competition and balancing physical stores and online venues are among the significant challenges the fashion industry faces this year, according to a survey, which found three-fifths of respondents believe shopping in metaverse will become the norm in the future.

The survey report, titled ‘Global Fashion Industry: Trends, Consumer Shifts, and Outlook’, was released recently by US research firm GoodFirms.

While half of the surveyed respondents indicated that the purchases made via analytics and artificial intelligence algorithms were beneficial, and they feel that more retailers should opt for this practice, 62.5 per cent are more concerned about the prices and wearability than fashion.

Achieving net zero emissions in fashion manufacturing, improving fashion buying experience, high competition and balancing physical stores and online venues are among the significant challenges the fashion industry faces this year, according to a survey, which found three-fifths of respondents believe shopping in metaverse will become the norm in the future.#

The future of fashion is becoming online as more customers purchase via online stores and sites. Eighty per cent of respondents prefer digital printing over traditional screen printing, while 42.5 per cent say they closely follow the current fashion trends and an equal percentage prefers personalised recommendations from online fashion brands.

With the industry attempting to achieve net zero emission goals in fashion manufacturing, 67.5 per cent of surveyees reported they would avoid a brand involved in violating environmental norms and 42.5 per cent believe the fashion industry is damaging the environment.

Thirty-five per cent of respondents prefer buying from brands that provide information about their green initiatives, while 27.5 per cent of people buy from fashion brands only when they know sustainable raw materials are used in manufacturing.

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