Utilizing AI and big data technology to grasp market conditions and patterns for predicting future trends in rapidly changing market conditions (technological prowess) Cutting-edge digital technologies such as the ‘3D virtual studio’ propel design advancement to enrich customer experience
SEOUL, South Korea, June 20, 2024 /PRNewswire/ — South Korean fashion company Shinwon Corporation (CEO: JJ Park) is actively utilizing AI and big data technology from the trend research stage to capture rapidly changing trends in the fashion industry and meet customer needs.
Shinwon Corporation leads innovation with AI and big data for fashion trend prediction driving digital twin revolution.
Global fashion industry experiences constant change and evolution, leading to dynamic growth. Consequently, it has become extremely important for fashion brands and retailers to quickly respond to the changing market by predicting future trends through extensive data analysis, and incorporating these trends into product planning and production.
Amid this trend, the global apparel fashion company Shinwon is receiving high acclaim in overseas markets due to its use of AI and big data technology. Shinwon has established high-quality production capabilities for knitwear, sweaters, and waders at its six overseas production subsidiaries in such countries as Guatemala, Nicaragua, and Vietnam. It is expanding its presence in the global market by receiving positive feedback from global buyers like Patagonia, Columbia, Gap, Target, and Walmart.
Shinwon comprehensively utilizes various methods, such as online market sales data analysis, trend analysis, and social media analysis, to understand market conditions and patterns. By analyzing actual sales data by market and category, the company identifies preferred colors and designs. It provides buyers with a solution that predicts future trends by integrating machine learning and deep learning technologies.
In particular, Shinwon’s strength lies in its multifaceted data analysis capabilities using AI, which include analyzing sales status, inventory trends, retail price trends, colors, and designs. In 2023, 20% of their market intelligence (MI) data was built using AI data analysis, and they plan to increase this proportion further this year. By utilizing accumulated data and AI analysis results, Shinwon aims to help buyers better understand market trends and thus makes decisions based on a large amount of information before product supply.
Additionally, Shinwon is pursuing design innovation by introducing advanced digital technologies such as 2D and 3D styling, and VR stores. In the 3D virtual studio, graphics can be applied to virtual mannequins in advance to check how designs will be implemented in the end. The studio also features interactive functions like 360-degree zoom-in and zoom-out, allowing for a vivid experience of the design implementation effects. By implementing colors and patterns that closely resemble the real ones, Shinwon has significantly enhanced customer experience through various fitting scenarios applied to the products.
In practice, when Shinwon presented the design for a private brand (PB) women’s line product for a retailer client, the company provided visual merchandising (VMD) using 3D virtual avatars suitable for all sizes and pose scenarios. This technology allows customers to select various outfits in 3D online.
Recognized for its innovative digital technology and brand-friendly design capabilities, Shinwon has been actively collaborating with customers, recently securing an end-to-end order for planning and producing the entire kids’, women’s, and men’s lines for a client.
Sue Lee, VP of Design, R&D, emphasized, "We analyze vast amounts of data with AI technology to predict trends based on objective and scientific evidence. Our designers then curate final design insights based on their understanding of Shinwon’s brand DNA and market trend awareness." He also added, "We appreciate the importance of the designer’s role as a curator and we will keep enhancing trust among our clients through the advanced technology and data curation."
For more information, please visit https://sw.co.kr/.
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