Algorithms vs. humans: Who's better at predicting fashion trends?
These days data is plentiful, useful and fast. But some in the industry warn that old fashioned merchants are undervalued at a crucial time.
Published April 29, 2021
Courtesy of Stitch Fix
Apparel retail, an industry segment that has been in turmoil since well before the pandemic, is poised for a reset as the pandemic shows signs of easing in the U.S.
Already, there are signs of hope: In March, clothing sales soared 105% year over year. Market intelligence platform Edited recently found that prices at the luxury end are actually rising and not just in streetwear. But apparel brands and retailers are grappling with many unknowns. The pandemic has probably entrenched consumers' already-building preference for less dressy attire and willingness to buy clothing online, so it's hard to judge how dressier apparel and brick-and-mortar stores will bounce back. In general, what styles and colors will match consumers' post-pandemic mood are still being worked out.