Technology has been the biggest topic of conversation in every sphere of the industry for over a decade. Something new is invented every day and it has a ripple effect in the world, as one invention affects multiple functions in different industries. In this report, we focus on how tech advancements are changing the way the entire fashion industry runs - from fiber to customer.

The approach to retail primarily changed due to change in marketing tactics - where once product pushing was the main method, now that is replaced by customer-centric marketing right from what product is made to how it is sold. Thanks to IoT and big data, companies are starting to put consumer data to use so that they can cater better to the needs of their customers. As gadgets wriggle into every part of our daily lives, there is so much that can be learnt from our day-to-day habits.

Similarly, companies are using innovations to upgrade their systems and practices. A supply chain may undergo a major modification because of advanced machinery and robotics. Simultaneously there is a lot of research being done on innovative materials that will resolve the problems faced by new-age customers. Demands have changed drastically in the last 50 years and so have trends, which change every 3-6 months, and these innovations help cater to the ever-changing demand.

People want to take advantage of technology and expect each product in their lives to perform multiple functions for them. A watch can no longer just tell them the time, but must also measure their heartbeat, calories burnt, steps walked - all thanks to Fitbit and other such wearables in the market. Shopping experiences are also changing because there is an increasing amount of smart retail involved, both online and offline.

Overall, the scene is changing at a very fast pace and companies are finding new ways of keeping the customer engaged and entertained, introducing new experiences at every stage of the retail chain.