With London Fashion Week kicking off today and running till the 23rd February at Brewer Street Soho, CBR looks at how the tech industry is disrupting the fashion industry. Here are some examples of tech changing the face of the fashion industry. Companies working in the tech sector alongside retail told CBR:
Howard Rosenberg is CEO of B-Stock Solutions said: “The reality is that in order to remain competitive, retailers have had to adapt their return policies to allow customers to buy and return as they please.
“Between buyer’s remorse, relaxed return policies and the substantial increase in online purchases (which come with an average return rate of 12-15%), a massive 3.5 billion items are returned to retailers each year. A large portion of this merchandise can’t go back on store or virtual shelves – due to diminished item condition, damaged packaging or product obsolescence – and is slated for liquidation.”