The theme of the eighth edition of the digital summit on fashion tech, organized by Pitti Immagine in live streaming, it is called Innovation Reset. “While the world is forced to reinvent itself due to the pandemic, the fashion system must aim for innovation, social sustainability, and a circular economy” said Raffaello Napoleone, ceo of Pitti, who kicks off a series of interventions on the future of the system, together with Carlo Capasa, president of the Italian Chamber of Fashion and Giacomo Santucci, president of Camera Buyer Italia.

Changing dynamics of the global fashion market, where consumers prefer to buy clothes online or on social media to the detriment of retail, luxury brands are looking for new solutions. In fact, online shopping platforms have grown exponentially in the last six months. However, the technology that is used especially by the Generation Z and the Millennials, alone it is not enough, because to optimize the brand sales, the integration of online and offline channels in retail is necessary.

“This is what we call new retail, or the new retail of the future: to create a good customer experience you need to combine online and offline,” said Farfetch’s managers Sandrine Deveaux, EVP Store of the Future and Kelly Kowal, Chief Platform Officer. “Risk aversion to digital won't protect fashion companies – it will kill them," explained Deveaux. “Retail is not dead, but luxury boutiques have to change and to adapt to consumer needs, and they have to do it very fast. Today, there are people who love buying luxury goods in the physical store, because it is true that online shopping gives convenience, security and, the ability to buy fast, but luxury brands have an important added value: the experientiality. For that new retail is the right strategy, as it perfectly combines these two ways to buy luxury goods: “the experientiality” of physical stores and the transactionality of online store” concluded Deveaux.

It, therefore, seems clear that retails are rushing to get online. “Being a successful field means adopting the innovating, otherwise you can risk exiting from the market” said Fabio Favini, Business Development and Market Strategy Director at Adidas. How? By changing four basic elements: "the mentality, the culture, the digital tools - it is possible to use existing technologies but in a different way, and the product, embracing a sustainable ethics". A vision shared by Mariano Di Benedetto, Agency and Fashion Lead of Facebook & Instagram: “there are many trends that are accelerating in 2020 by the Covid-crisis. Among these there are the virtual assistant and the live streaming shopping, in addition to the shift to online shopping.“ For example Gucci launched the video call in May, it’s a service which customers can talk directly with the consultants of the Florentine fashion house to ask for informations and details about every single product, living an experience very similar to the real world. "The more the future will be digital, the more we will have to make it human," said Vasilis Dimitropoulos, Vp client services at Gucci.

Anna Rita Russo @Modemonline