Earlier, the fashion industry was governed by editors, powerful retailers, and experienced designers. It was the bible of fashion inspiration and seasonal must-haves, and magazines were the gatekeepers. However, the rise of social media has changed that. In 2010, Instagram was launched, allowing anyone with a smartphone to share and discuss the latest fashions. Today, social media is an almost ubiquitous phenomenon.
The fashion industry has been shaped by social media platforms, which have completely altered the way we consume information. These platforms have transformed the thought process of consumers and fashion designers. They have also made it possible to connect with consumers across the world, making it possible to create new and exciting collaborations. For example, the partnership between LVMH and Twitch has paved the way for new collaborations and global reach.
A recent study found that the fashion industry is increasingly using social media to market itself. More brands are turning to these platforms to promote their products. This has boosted their sales by as much as 25%, and has also resulted in the growth of e-commerce companies. The growth of social media has led brands to focus more resources on these platforms, and TV commercials are being replaced by interactive online media.