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The retail industry is changing every day – we
don’t need to scroll up decades to see how
the retail template has metamorphosed over
the years. Yet, there’s one thing in retail that
simply refuses to budge – innovation. The age
old saying that constant innovation is the key
to retail success holds true even today. And
the need to diff erentiate from the competition
through continual innovation has never been
as dire as it is now.
Rapid change in technology and changes
in the way we communicate, connect, and
discover are carrying incredible implications
for businesses worldwide. In the modern retail
ecosystem, shoppers are turning into critical
infl uencers, progressively deciding the goals
of most retailers’ innovation strategy. And it
defi nitely is diffi cult to adapt naturally!
And honestly, the pressure to be more superior
is nowhere as pronounced as it is in the
fashion retail sphere. Whether a verticallyintegrated
luxury brand or a fast-turning lowconsideration
apparel store, fashion retailers
are feeling the heat to be more innovative. But
the good news is that Indian brands
and retailers are stepping up to the challenge
and how!
The cover story of the December issue of
IMAGES Business of Fashion – Technology
& Innovation: The Core of Fashion Creation
– outlines how fashion brands in India
are investing on innovation, both process
and technology. Engaging in novel ways
and enabling new processes to focus on
customer engagement and augment customer
experiences has now become the new
standard of fashion retail. I would also like to
accentuate that while innovation can be very
subjective, depending largely on the need of
the retailer, ultimately, it is technology that is
going to make innovation possible.
The issue also gives insights into the various
aspects of innovation pertaining to the
fashion industry in India, including accounts
of some the biggest names in the domain. I
hope you enjoy reading it as much as we did
writing it.
Cheers!!