WGSN has been tracking digital assets for years now, but we’re recently seeing a significant rise in engagement across markets, regions, categories and consumer cohorts.
65% of Gen Z and Gen X across the world rate digital ownership as important, and more than 50% are interested in purchasing a digital asset within the next year. This opens up opportunities for brands to claim ground.
Join our host Kraggy (Graham Krag), Print & Graphics Strategist on WGSN Fashion, as we dive in the world of digital fashion with Nell Lloyd-Malcolm, CEO and co-founder of xydrobe; Oliver Royce, head of apparel and digital goods at Fnatic; and Ommy Akhe, creative technologist and leading figure in the augmented reality space.
We explore some successful strategies fashion companies can use to authentically engage in this space, especially as new rules are being written on how consumers are willing to interact with brands digitally.
AR/VR advertising
“People use ad blockers, they don’t want to be in advertisements. AR is one of the only use cases where people opt into advertising. If you go into an AR branded experience or a virtual reality branded experience, you’re unconsciously becoming a brand ambassador by sharing that or engaging with it.”
– Ommya Akhe, creative technologist and leading figure in the augmented reality space
Gaming x fashion
“The 16-25 audience is so hard to market to, it’s so hard to get their attention for longer than 10 seconds. The thing about gaming is people play games for hours at a time. You have their undivided attention; they live and breathe it.
“We partnered with Gucci for that very reason. We want to get in front of these people, we want to remain relevant, we know this group will have spending power in the future, so the relevance to a brand from the commercial perspective is so true.”
– Oliver Royce, head of apparel and digital goods at Fnatic
IRL and URL
“One of the most interesting things outside of wearability is this new space for brands to create a hyper-engaged community of their own. By buying into a virtual product you’re able to receive real-world perks, whether that’s access to shows or product lines.
There's so much you can do with the aim to one day become a virtual-only product. At the moment it’s got to be paired with something physical for the main subsection of consumers. It makes sense for brands to make sure that someone is getting something tangible because they’re so new to the space.”
– Lloyd-Malcolm, CEO and co-founder of xydrobe
To hear the full discussion tune into episode 48 of our Create Tomorrow podcast, The Opportunities for Digital Fashion, on Anchor, Apple and Spotify.