NOVEL ECOMMERCE TECHNOLOGIES FOR THE CLOTHING INDUSTRY: FASHIONPHORIA-A SOCIAL FASHION PLATFORM

Abstract

Fashion industry is one of the most vibrant and creative sector in Europe. Having over 5 million people directly employed in the fashion value chain and 850,000 companies established, this industry provides an important contribution to the EU economy with an annual turnover of EUR 525 billion. Despite the global competition, European retailers have managed to be competitive by moving to high- added value products, serving niche markets and investing on technology and novel ecommerce tools. Fashion is in a transition phase where digital brands and eshops try to engage more shoppers, provide unique experiences and increase revenues. However, conversion rates are still low, competition is fierce and novel products and services are required in order to capture the attention of the consumer. More customer behaviors regarding fashion preferences of the users are needed and new advertising techniques have to be implemented in the sector. In this paper, the market trends regarding clothing and eCommerce in Europe are provided. In addition, a market research is presented that reveals the need for a social fashion platform in Greece coupled with the expectations that an shopper has for a fashion aggregator. The basic functionalities of Fashionphoria, a novel social fashion platform are presented and the benefits for the fashionistas and the brands are outlined.

Keywords

• E-commerce
• Technology
• Gamification
• Digital
• Advertising