Interviews
London fashion students win Retail Futures Challenge
09 May '09
5 min read
The Fashion Retail Academy concept is now ready to go live with financial backing demonstrating that the concept was realistic, showed understanding and demonstrated how to engage with the target demographics of 18-21 year olds.”
The global competition challenged teams from the Fashion Institute of Technology (New York) The Fashion Retail Academy (London) and the Hong Kong Polytechnic (China) to present one new retail concept that they felt defines the future of the sector in 2012 – the post credit crunch era. The concepts had to be aimed at 18-21 year old shoppers and would consider the impact of the current economic climate on future consumer patterns and behaviours.
All three teams came up with ventures based on digital technology. The New York entry, Mint Fashion, was designed to “invigorate customers through the fusion of technology and fashion.” Mint, a combined store and online operation, was focused around the integration of fashion and technology and included items such as “transformers” – clothing which can be modified according to temperature and use. Additional items included Bluetooth earrings, spray-on fabrics and changing rooms enabling shoppers to try items on virtually.
Hong Kong's entry – Dream our Dreams, Hug & Kisses is designed to change the shopping experience with products such as the RFID card which stores your data and is automatically scanned when you enter a store, enabling shop assistants to recognise and greet customers. Digital changing rooms allow customers to send pictures of themselves in outfits to friends for advice and digital display prices would change to reflect factors such as shoppers' stored loyalty points or other discounts.
The Retail Futures Challenge was created in association with Oracle, Li & Fung, Warnaco and Land Securities.
The World Retail Congress has welcomed more than 2,000 retail leaders since its launch in 2007, and has quickly established itself as one of the most important events in the retail calendar. This year, the discussions promise to be the most challenging yet, as retailers address a wide range of business critical issues, such as driving growth in international markets, the science behind innovation, the people agenda, e-commerce, the changing consumer and maximising business efficiencies.
The World Retail Congress is organised by Emap Ltd, in association with key sponsor, Deloitte.
The global competition challenged teams from the Fashion Institute of Technology (New York) The Fashion Retail Academy (London) and the Hong Kong Polytechnic (China) to present one new retail concept that they felt defines the future of the sector in 2012 – the post credit crunch era. The concepts had to be aimed at 18-21 year old shoppers and would consider the impact of the current economic climate on future consumer patterns and behaviours.
All three teams came up with ventures based on digital technology. The New York entry, Mint Fashion, was designed to “invigorate customers through the fusion of technology and fashion.” Mint, a combined store and online operation, was focused around the integration of fashion and technology and included items such as “transformers” – clothing which can be modified according to temperature and use. Additional items included Bluetooth earrings, spray-on fabrics and changing rooms enabling shoppers to try items on virtually.
Hong Kong's entry – Dream our Dreams, Hug & Kisses is designed to change the shopping experience with products such as the RFID card which stores your data and is automatically scanned when you enter a store, enabling shop assistants to recognise and greet customers. Digital changing rooms allow customers to send pictures of themselves in outfits to friends for advice and digital display prices would change to reflect factors such as shoppers' stored loyalty points or other discounts.
The Retail Futures Challenge was created in association with Oracle, Li & Fung, Warnaco and Land Securities.
The World Retail Congress has welcomed more than 2,000 retail leaders since its launch in 2007, and has quickly established itself as one of the most important events in the retail calendar. This year, the discussions promise to be the most challenging yet, as retailers address a wide range of business critical issues, such as driving growth in international markets, the science behind innovation, the people agenda, e-commerce, the changing consumer and maximising business efficiencies.
The World Retail Congress is organised by Emap Ltd, in association with key sponsor, Deloitte.
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