Transformative technology has become key to engaging consumers and driving purchases. With the help of AI-powered data, businesses can now precisely target shoppers in India's Tier 2 and 3 cities and thus maximise their market reach and impact. This is clearly evident in the impact two technology platforms, YouTube and Meta, have on the fashion industry in the country.
For instance, YouTube had five billion views for fashion and clothing content in December 2023 alone. Similarly, insights into Meta platforms revealed a global monthly active user base of 3.8 billion, with two billion individuals resharing reels daily.
These findings were highlighted by Meghna Apparao, director of Meta India, at the India Fashion Forum in Bengaluru. She said the Meta platform had emerged as a powerful touchpoint for fashion businesses to connect with consumers and drive spontaneous purchases. “There are 3.8 billion monthly active users of Meta across the globe, including India as a significant market, and two billion people reshare reels daily worldwide. With AI-powered insights, businesses can effectively tap into the sheer affluence of Tier 2 city shoppers and leverage vernacular content to resonate with diverse consumer demographics.”
Many speakers emphasised the critical intersection of AI and fashion. Shubha Pai, head of sales and solutions, at YouTube India, delved into the intersection of artificial intelligence (AI) and fashion, emphasising its transformative potential. "YouTube's diverse content formats, including 'Get Ready with Me' (GRWM) and 'Outfit of the Day' (OOTD) videos, have witnessed a remarkable 500 per cent growth in watch time, underscoring its unparalleled influence in shaping fashion trends and consumer behaviour,” said Pai.
Talking about the roadblocks in the fashion business, Shailesh Chaturvedi, MD and CEO, Arvind Fashions, said, "We need to relook at the fundamentals of how we run our businesses and effectively utilise our capital."
Saloni Nangia, president and MD of Technopak Advisors, highlighted the evolving nature of consumer behavior and the importance of leveraging technology to meet changing demands. "Technology will be the largest value creator. AI will be an enabler and a disruptor, and sustainability will continue to hold importance,” said Nangia.
The integration of generative AI, from chatbots to personalised content creation and data visualisation, is revolutionising marketing strategies and reshaping the fashion retail landscape.
The India Fashion Forum 2024 broadly agreed that AI-powered innovation is not just a trend but a fundamental driver of change, poised to usher in a new era of dynamic and consumer-centric fashion retail in India. It became quite evident that with the integration of generative AI, ranging from chatbots to personalised content creation and data visualisation, the horizons of possibility expand exponentially. As an increasing number of companies embrace this technology, its seamless integration into every facet of marketing becomes a foreseeable reality.
