If there is one thing that sells always, it’s fashion. And while we all know that the Nigerian economy does need that punch to witness the growth spurt it needs, it’s likely that we would see it more often than we thought.
The Nigerian government is not just looking to push in investments to ensure that there is a strong growth, it is also focusing on technology and innovation to ensure that Nigeria becomes a leader in these departments. Nigerians are a fun and talented lot – it doesn’t matter whether they are working or playing online games with Hollywoodbets promo code, they will put their hearts out for it.
Is Fashion Tech the Answer to the Fashion Industry in Africa?
If you are wearing a dress designed or manufactured in Africa, you are under the one percent of global fashion exports that happens in Africa according to the African Development Bank Group based in sub-Saharan Africa.
A very interesting niche, called fashion tech is being introduced in Africa to up its game in the global exports.
If you aren’t aware of the recent boom of fashion-tech all over the world you are probably scratching your heads thinking, what exactly is this about.
Fashion technology essentially allows clothes to be more than something which you can wear. It marries the industries of technology and fashion to build technical aspects into something as creative as fashion designing. The market for fashion Tech solutions in Africa is expected to grow from 1.5% to about 4.5% in a span of two years and the experts are looking keenly as the activity radar is going up in Global Fashion.
In fact, there was a Fashiontech Africa Hackathon hosted very recently in collaboration with fashion studios and business consultancies! The aim of the Hackathon as one of the leaders point out, was to innovate on the ways technology could be used to converge the fashion industry both off-line as well as online.
It was an event with the objective to find Tech solutions to improve the retailing of the fashion industry in Africa as well as enable them to compete easily in the existing markets.
The fashion entrepreneurs from the Hackathon were also equipped with knowledge and skills in logistics, marketing, accounting, franchising and all the other requirements of biding a stable business.
The fashion entrepreneurs were introduced to the changing taste of their customer base and nudge to figure it out ultimately.
Investors Exploring Fashion Tech
3D is one of the major areas that fashion tech is finding an application in right From 3D customized shoes. Investors have the same lines. They advise start-ups to not restrict their attention to any one area. The advice that the aspects of 3D have a massive potential that needs to be unfurled. Combine that with artificial intelligence and there is nothing stopping you!
Even though fashion Tech all over the world very highly in terms of their adoption in the markets, investors are open to proposals.
E-commerce, of course, is one of those green-light areas that have boomed the fashion Tech industry to the next level. Now, wait for your cart to suggest what jacket will suit your the new t-shirt you bought.