#bagdesignonline

The pandemic has already accelerated the digitization of the fashion and luxury sectors. Luxury brands that were traditionally reluctant and slow to embrace electronic and digital commerce had no other choice than to move to digital solutions. Therefore, in 2020, eCommerce suddenly boomed in the US and attained an astounding ten years' worth of growth in three months. This indicates the scope and needs to explore more opportunities to gain more heights in the virtual space. Bags designing software, a customization solution, enables fashion companies to leverage the latest eCommerce trends and expand their business.

Handbag Design Software Offers Solutions to Prosper in the Virtual Space

With the rising inclination toward the digital sphere, brick-and-mortar still holds a significant market share for luxury brands; the future undeniably includes a significant digital component. To that end, there are huge digital trends and some challenges that they raise that luxury brands need to consider as we go along:

In the current blog, we shall highlight various trends driving the future market trends. Let us explore them:

•The Increasing Demand for Virtual Try-Ons

Virtual try-on is not a novel concept in the fashion domain, and it uses augmented reality technology to let customers sample some products using a webcam or any other camera-equipped devices, such as laptops and smartphones. Technology in the virtual try-on arena-which enables shoppers to try on anything from cosmetics to clothing virtually and even to use biometric scanners to identify the perfect fitting clothes or any perfectly suited handbag. Besides the rising practice of social distancing and contactless payment, this new shopping method has witnessed a wide-scale adoption across eCommerce channels.

However, with the reopening of physical shops, brands and retailers are still relying on digital experiences because it attracts more customers. The connect-shopping concept drives in-store shopping experiences, which customers have caught well to spend more time in the store than they normally do while shopping online. The margin rates in these conditions are higher, and return rates are significantly lower. Statistics provided by Snapchat and Foresight Factory indicate that 35 per cent of US consumers would go out of their way to visit a store. These statistics are far more promising and suggest that any stores had interactive virtual services, such as smart mirrors, for trying luxury products. Additionally, 62 per cent of US buyers have already used AR and say that the technology helped them purchase even more.

Since the beginning of this decade, we have only worn and seen people in sweatpants and matching facemasks. Yes, athleisure and a cloth face cover have been the top priority among many people, but an essential accessory missing from most people’s wardrobes has been designer handbags. Taking the notion a little further is handbag design software, a customization solution that allows customers to design their bags in the way they like it and flaunt it to the world. The custom-made solution enables your buyers to add accessories to their wardrobe that people couldn’t stop talking about. On top of it, its digital solution enables customers to seamlessly design and preview the customized bag in 3d and then head for final payment.

Bags Design Software Offers Solutions to Thrive in the Dynamic Online Marketplace

Bags have become an integral part of our wardrobes and are used to convey the mood, comfort, and style of the person carrying them. For a long time, the luxury industry for being too trend-setter and damaging the environment. Consequently, brands had to listen to buyers and crucial stakeholders to listen and understand the ways that could help them to revamp their business model and at the same time take their business to new heights. As usual, technology has all the answers that one is looking for, and this time, it has come up with digital solutions and resale strategies. And with rising interest and awareness among customers, brands are on the verge of exploring some untapped opportunities that will prove profitable in the days to come. And one such solution is a secondhand market or resale market.

According to the reports published, it has been found that the luxury secondhand market is growing four times faster than the primary luxury market, at 12 per cent per year versus 3 per cent. Luxury resale already represents a $24 billion market today. The rise in sales could be attributed to the emergence of digital technology in the luxury industry and the surging need to control the overuse of leather and overproduction.

In the past seven months, leading luxury resellers have reportedly witnessed an increase in sales with the most expensive and designer bags, such as the Hermes Kelly Bag, the Louis Vuitton Eva bag, and the Chanel Double Flap Bag. The sales came as a surprise for many as they hadn’t anticipated that wearing nice clothes with trendy bags would be such a hit in the corona period. Additionally, when the industry was facing some of the unprecedented crises across the global economies continue to witness downturns, luxury purses are not on the top list of spending priorities. But the data tell a different story.

Moreover, as resellers scale up, they compete more directly with fast fashion than with the luxury brands themselves. Resellers are laser-focused on scaling, and they’re currently looking to do so through new investments in technology that enable algorithmic curation and AI-powered authentication. However, there are exceptions in the industry, as some brands, such as Kering, took a 5 per cent minority stake in the French luxury resale platform Vestiaire Collective at the beginning of March this year. Many have their eyes to this shift in business strategy, as it is considered the strongest and most sought-after joining forces between the worlds of luxury brands and resale. Luxury brands are beginning to see resellers as allies instead of enemies.

Blending two different worlds may seem overwhelming; however, we have a panacea that goes by the name bag design online. It is a customization solution that brings together the best of both worlds, that is, through the tool, your buyers can design any bag they like from your e-catalogue, and you only have to manufacture what has been asked from you. The custom-made solution empowers brands to cater to the dynamic needs of customers and reduce the burden on the planet through its digital technology as it prevents customers from throwing away the product and increasing the landfill.

Let us look at the various factors and success stories of the various luxury brands and take inspiration from them to excel in the fashion industry:

Using AI-Powered Technology

Digital technology has become an integral part of our lives, and many emerging brands are capitalizing on the latest trends. One example to support the notion is Rebag, whose app can be downloaded from any app store, allowing buyers to take a snap of the bag they like and think of selling their bags with the camera phone. The Clair AI produces a handful of search results, and customers can choose a match, and the tool generates a price. Additionally, the recent events have accelerated the use of more app-based brands and drove the resale trend. As a result, the brand observed50% revenue growth in the last year.