Report: Digital Disruption and the Fashion Industry's Transformation

Verified

Added on  2023/01/03

|11
|3368
|1
Report
AI Summary
This report examines the impact of digital disruption on the fashion industry, focusing on how technological advancements are reshaping business models, consumer behavior, and job roles. It analyzes the effects of e-commerce, online retail, and emerging technologies like AI and big data on traditional fashion businesses and the emergence of new players. The report highlights the challenges and opportunities presented by digital disruption, discussing changing consumer preferences, the need for businesses to adapt and innovate, and the evolution of job profiles within the sector. The study includes an analysis of the organization Debenhams and explores the strategies companies can adopt to remain competitive in the face of digital transformation. The report also presents a questionnaire and discussion guide used for interviews to gather insights into the industry's response to digital disruption. It concludes with a discussion of the future of the fashion industry and the importance of embracing digital technologies.
tabler-icon-diamond-filled.svg

Contribute Materials

Your contribution can guide someone’s learning journey. Share your documents today.
Document Page
REPORT ON THE ROLE OF INFORMATION
AND DATA
tabler-icon-diamond-filled.svg

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
Table of Contents
Introduction......................................................................................................................................3
Impact of digital disruption on fashion industry sector...............................................................3
Digital disruption means in terms of types of jobs within fashion sector...................................5
Questionnaire...............................................................................................................................7
Discussion guide for face to face interview.................................................................................8
References......................................................................................................................................11
Document Page
Introduction
Digital disruption is an effect that alters the essential desires and practices of a culture, market,
company, or club that are made or communicated through computer capabilities, channels, or
resources. Computer crashes bring about changes caused by progressive innovations and action
plans. These innovations and innovative models can affect the benefits of existing products and
administrations in the sector. This is why the term "temptation" is used, as the increase of these
new computer items / administrations / organizations increases the current market and causes the
need for re-evaluation.
The given assignment is based on understanding the concept of Digital disruption and its impact
on chosen organization Debenhams. The chosen organization deals in fashion industry targeting
both male as well as female customers. Debenhams is a British multinational retailer operating
to both men and women. Debenhams is a UK retailer worldwide operating outlets in the UK and
Denmark, with stores in various countries. Founded in 1778 as a standalone shop in London, the
organization has expanded to 178 districts in these countries. Headquartered in Regent's Place in
London's Camden neighborhood, the group bids for Danish retail chain Magasin du Nord. The
range of products sold includes clothing, household items and furniture.
Impact of digital disruption on fashion industry sector
Fashion is one of the key businesses that is presently being re-imagined by advanced
interruption. This period of advanced interruption has not been uplifting news for conventional
parts in the business. As indicated by retail think-tank Fung Global Retail and Technology, 6,985
retail locations across the US were shut in 2017 alone. That denotes a 200% year-over-year
increment in store terminations. A similar research organization additionally focuses to a
disturbing reality that during the 2008 monetary emergency, 6,163 stores were shut across the
US. That implies that more stores were shut a year ago (a year during which the economy was
blasting) than during the characterizing year of the monetary emergency.
The effect of this disturbance can be seen wherever in the design business: from creation and
store network to advertising and deals. Computerized gadgets, stages, and advances, for
example, cell phones, web-based media, progressed information examination, man-made
Document Page
consciousness, and web based business are re-rearranging the market elements. The following
are the 4 patterns rethinking how business is done in the design business.
Since customary design organizations have been delayed to catch the computerized market for
style, this hole has been filled by online-just retailers, for example, Amazon, Zalando, Boohoo,
and ASOS. Manchester-based online design retailer Boohoo, established in 2006, saw a 100%
expansion in its 2017 deals, to $316.6 million. Amazon, which caught 5% of the American style
market in 2015, is extended to expand its piece of the overall industry to 14% by 2020. Its
clothing deals are assessed to take off from $18.5 billion out of 2017 to $85 billion by 2020.
German design retailer Zalando saw a 23.4% expansion in deals in 2017, and is relied upon to
grow 20-25% in 2018. English online retailer ASOS is likewise assessed to develop its deals at
the pace of 25-30%.
Computerized retailers are not just giving an online stage to selling design items, yet they are
additionally offering an incredible client experience. They are productive in tuning in and
understanding what the customers need utilizing various methods, for example, web-based
media, progressed information examination devices, and man-made consciousness. They rapidly
respond to shopper bits of knowledge assembled through computerized advances and join them
into their dynamic cycle. In this manner, without grasping computerized advances and giving
what client needs, design brands and retailers will keep on losing a lot of the style market, which
is assessed to reach $1.8 trillion by 2020.
Computerized advances are reshaping the desires, practices, and propensities for style shoppers.
Presently shoppers are considerably more engaged and assume a focal part in choosing when and
what should be delivered. Rather than going to actual stores, buyers are investing more energy
shopping on the web. Especially millennial are moving from disconnected to on the web, so
much that 2 out of 3 millennial want to look for style on the web. A McKinsey report about
design customers' internet shopping propensities shows that; an incredible 74% of online buyers
settle on buying choices affected by web-based media.
The shopper pattern to utilize computerized devices and stages to purchase design items doesn't
give indications of easing back down. As per McKinsey's condition of style report 2018, online
deals for design, especially for clothing and footwear, will keep on expanding quickly
throughout the next few years. In the event that customary design players need to endure, they
tabler-icon-diamond-filled.svg

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
should incorporate new advances, put resources into embracing inventive plans of action, and
connect with purchasers through various computerized channels to give a superb shopping
experience on the web.
Digital disruption means in terms of types of jobs within fashion sector
Digital disruption is the change that occurs when new IT innovations and action plans impact on
existing product and business offering. The rapid expansion in the use of cell phones for
individual use and work, the occasional move as attractive as shopping, has expanded the
potential for computer hassles in a number of industries.
For the most part, computer sickness occurs after advanced development, for example, the
development of big data, AI (ML), web of things (IoT), or gadget (BYOD). Progressive
development at that level influences the evolving desires and practices of consumers, forcing
associations to move forward as they make articles and administrations, produce material
advertising, and valuing criticism. This shift in progressive approach can occur at an individual,
authoritative, business or cultural level.
The term breakthrough has recently become a problem and is often used to describe anything,
including computer innovation or the use of digitization to easier shopping with friend’s
shopping centers. The term weird innovation, coined by Harvard Business School teacher
Clayton M. Christensen to describe another innovation that undermines fixed innovation, is
regularly misunderstood.
It's important for societies to take over the breakdown of the computer. As business overcomes
cyber disruption, it regularly reports that customer needs are evolving. In this way, understanding
conflict allows existing customer groups to remain optimistic just like opening doors for new
customers. In the same way, it gives organizations a better idea of people's behavior and how
patterns can occur in the long run.
Types of Jobs within fashion industry
1. Fashion Designer
Otherwise called adornment architect or an apparel planner, style fashioner plans new frill and
articles of clothing. They are answerable for noticing and breaking down the frill and pieces of
Document Page
clothing in the stores of other significant creators, at design shows centers and magazines. They
plan out and give imaginative form to existing embellishments and pieces of clothing.
2. Pattern Maker
They are additionally called texture design producer or a clothing design creator takes a style
planner's plan and separates it into a progression of pieces. Example producers are answerable
for guaranteeing gathering of adornments and pieces of clothing by sewer and makers.
3. Fashion Stylist
A beautician is capable to improve the general appearance of an entertainer, model, or other
customer through styling methods including cosmetics. Beauticians choose generally speaking
appearance and necessity of a customer to zero down styling methods and cosmetics to introduce
the ideal look. They additionally recommend customers about the cosmetics that they should use
to energize the appearance of pieces of clothing and assistants to be introduced. The
compensation of a beautician relies upon profile of manager, customers, aptitudes and notoriety.
A beautician might have the option to make fundamentally more than expected on the off chance
that the individual works for a significant model or big name, has done course in design styling
or design plan, and is an industry robust. The general classes of styling are: cosmetics craftsmen
and individual beauticians. A cosmetics craftsman works in the utilization of cosmetics, and an
individual beautician represents considerable authority in improving a person's picture and
character through embellishments, attire, hair styling and cosmetics.
4. Visual Merchandiser
In certain spots they are called chooses show of adornments and pieces of clothing in a store.
Visual merchandisers are answerable for ensuring that the clients can see each adornment and
article of clothing.
5. Fashion Marketer
Considered less charming, a style advertiser makes publicizing efforts, showcasing plans that an
individual or organization utilizes to sell its items. Style advertisers are liable for ensuring that
every extra and piece of clothing is introduced to the retailers or customers in the most ideal
manner conceivable.
6. Fashion Salesperson
Document Page
Likewise called retail sales rep or delegate, they offer pieces of clothing and assistants to retailers
or buyers. Sales reps persuade individuals to purchase the items that an individual or an
organization plans.
7. Model
It is the most breathtaking part of the design world. They feature and wear different articles of
clothing and extras that an individual or an organization plan and advance. Models are liable for
allowing individuals to see the manner in which a particular plan looks on a person.
8. Seamstress or Tailor
A sewer is a female design proficient who makes adornments and pieces of clothing and a tailor
is a male style proficient who does comparative work. They are answerable for giving solid
shape to plans and examples.
9. Fashion Photographer
A style photographic artist, otherwise called business photographic artist, make arrangement of
articles of clothing, frill that an individual or organization plans just as photos of the models
wearing those pieces of clothing and extras.
10. Fashion Retail Manager
A design retail director, or head supervisor, regulates the exercises of a style store. Retail
administrators take care of everyday work of individuals in store, for example, clerks, salesmen,
visual merchandiser, originators and housekeeping staff.
Questionnaire
Q1. What stage is your company at in its thinking?
a. Stage 0
b. Stage 1
c. Stage 2
d. Last stage
Q2. Are the Board the Real Blockers to Disruptive Innovation?
a. Yes
b. No
Q3. Which are the most disruptive technologies?
a. Block chain
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
b. Robotics
c. Digitalization
d. Other
Q4. Who is really leading the disruption in the industry?
a. Customer
b. Competitor
c. Self company
d. Other
Q5. How do you get buy-in to change and reduce resistance?
a. Internal communication
b. Resistance to change technique
c. Hiring professionals
Q6. Who should lead innovation within the company?
a. CEO
b. CIO
c. CMO
Q7. What is the objective behind investments in Digital technologies?
a. Revenue maximization
b. Improved decision making
c. Increase customer retaliation
Q8. What is the reason behind disruption?
a. Better option
b. Convenience
c. Product available at cheap rate
d. Easy to buy
e. Any other option
Discussion guide for face to face interview
Digital disruption can be an intimidating term, and, maybe all the more testing, it is regularly a
theme CIOs and senior IT pioneers realize they should consider, yet aren't sure where to begin.
The "sit back and watch" disposition is an outlook that should be left before, or associations
hazard being given up. Organizations like Uber, Google, Amazon and others have been centered
around exploring the convoluted scene of computerized interruption, and it's the ideal
opportunity for all associations to begin making techniques to remain serious and make
development.
Document Page
Amazon Web Services (AWS) upset the on location worker industry through its IaaS/PaaS cloud
stage. The organization put vigorously in foundation as a plan of action, and zeroed in on
development in the tech stack. They set up interior methods of reasoning about advancement and
disturbance and made the "closest thing to a strict development in IT" as a cultural effect, says
Yockelson. The cultural effects for other disruptors incorporate now-recognizable propensities,
for example, marathon watching (Netflix) and the expression "Google it" (Google). Nonetheless,
in the fabulous plan of disturbance, these enormous models are moderately straightforward and
not really hard to recognize. Consider what happens when you separate the foundations of
potential and real disruptors further. This recognizes classifications that disruptors by and large
fall into: Emerging tech suppliers, set up suppliers, vertically engaged elements and responsive
associations.
A vital part of seeing computerized disturbance is to figure out how to isolate real advanced
interruptions from crazes. A craze, for example, Pokemon Go or Google Glass, will affect heaps
of fervor yet have restricted effect. An interruption will totally rethink the market's requirements
and possibly cause a huge change in the business and past. For instance, tablet PCs like the iPad
caused changes in application advancement, affected income of work area and journal PC
makers, and even changed how people associate with innovation, with FaceTime as the primary
versatile conferencing application. The innovation likewise made a reseller's exchange
adornment industry. Sooner or later advanced interruptions will totally change advertises because
of their expanding influences, while a prevailing fashion won't. Consider how advanced TV at
first affected simple TV, and how Netflix consequently abused computerized substance to totally
upset media outlets.
Advanced disturbances should be seen inside three measurements — the size of the interruption,
the compass and the wealth of the experience. These three measurements can make tremendous
market preferences given that more substance is created quicker, is accessible on interest, and for
the most part gives a more profound setting and broadened profundity of client association.
When hoping to spot computerized disruptors, don't simply zero in on the VC people group, in
spite of the fact that disruptors may rise out of there. Enormous organizations can have a colossal
Document Page
preferred position on the off chance that they can figure out the computerized disruptor code. For
instance, IBM obtained the Weather Channel for its worldwide scale stage and information. The
computerized business goliaths (Google, Facebook, Amazon) ought to likewise be observed. "Be
especially careful about what information they could pick up or own concerning your market,"
Hill says. "This is likewise where your comprehension of your undertaking's monetary
engineering will help significantly, by placing your perceptions into a business setting that your
CEO and board unmistakably comprehend."
One choice each undertaking should make with regards to computerized disturbance is the means
by which to react to it. Numerous associations do not have what it takes, assets and danger
hunger to sensibly assume the function of disruptor. Be that as it may, these undertakings can —
and should — choose to assume the function of "supplementing disruptor" by joining the
biological system around the disruptor. This implies searching for approaches to enhance the
interruption. Assuming, nonetheless, the CEO reaches the resolution that the organization ought
not supplement the disruptor, however ought to turn into the disruptor itself, the organization
should guarantee that it has an arrangement of consistent advancement. This involves testing
suppositions and breaking out of natural examples or "in light of the fact that that is the means by
which we generally do them" mindset.
A clarification of blockchain starts with the bitcoin digital currency, since it is the principal
usage of appropriated record innovation, dispatched in 2009, and now, around 500 million
exchanges later, overseeing resources worth more than $70 billion. The record records exchanges
in bitcoin money in a "chain-of-blocks" information structure, where a square is a gathering of
exchange records added like clockwork in a ceaseless arrangement. The record records the
arrangement of each exchange and each "coin" (virtual money put away as data bits). The most
intelligent hoodlums on earth have had eight years to break the security of the data put away in
the circulated record, and have fizzled. The record is an unchanging, sealed, uncensorable record
of all exchanges since the main "beginning" exchange. To accomplish this objective of a
"confided in record inside an untrusted climate," the record in bitcoin depends on huge
computational force and invested individuals, or "diggers," to approve and affirm exchanges,
utilizing an organized cycle for adding exchange records to the blockchain as a trade-off for
money related prize.
tabler-icon-diamond-filled.svg

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
References
Skog, D.A., Wimelius, H. and Sandberg, J., 2018. Digital disruption. Business & Information
Systems Engineering, 60(5), pp.431-437.
Gilbert, R.J., 2015. E-books: A tale of digital disruption. Journal of Economic
Perspectives, 29(3), pp.165-84.
Geissinger, A., Laurell, C. and Sandström, C., 2020. Digital Disruption beyond Uber and Airbnb
—Tracking the long tail of the sharing economy. Technological Forecasting and Social
Change, 155, p.119323.
Kerr, G. and Kelly, L., 2017. IMC education and digital disruption. European Journal of
marketing.
Dermine, J., 2017. Digital disruption and bank lending. European Economy, (2), pp.63-76.
Møller, L., Gertsen, F., Johansen, S.S. and Rosenstand, C., 2017, June. Characterizing digital
disruption in the general theory of disruptive innovation. In ISPIM Innovation Symposium (p. 1).
The International Society for Professional Innovation Management (ISPIM).
Lavikka, R., Kallio, J., Casey, T. and Airaksinen, M., 2018. Digital disruption of the AEC
industry: technology-oriented scenarios for possible future development paths. Construction
Management and Economics, 36(11), pp.635-650.
Thirgood, J. and Johal, S., 2017. Digital disruption. Economic Development Journal, 16(2),
pp.25-32.
MIT Libraries, 2020; The disruptive impact of technology on the fashion industry; Available
online through; https://dspace.mit.edu/handle/1721.1/111471
Path finder, 2020; Available online through: http://www.pathfinder4.com/questions-cios-are-
asking-about-digital-disruption/
chevron_up_icon
1 out of 11
circle_padding
hide_on_mobile
zoom_out_icon
logo.png

Your All-in-One AI-Powered Toolkit for Academic Success.

Available 24*7 on WhatsApp / Email

[object Object]