London, UK – August 24th 2023 – BLEND, an AI-powered personalised fashion discovery platform, has been chosen to exhibit at TechCrunch Disrupt 2023 as part of Startup Battlefield 200, the world’s preeminent startup competition.
Technology & Innovation
Over the past 20 years the Fashion industry has been transformed by two macro- trends: the boom in eCommerce and the rise of social media.
These shifts have led to the birth of “fast fashion,” a multiplication of trends and the democratisation of trend-setting. In a digital sphere where consumers have access to billions of fashion products at any moment and inspiration and influence coming at them from all sides, consumers are overwhelmed by the sheer amount of choice available and the constant “newness.”
The fashion industry, and fashion eCommerce more specifically, have boomed. Whilst in 2000 online sales accounted for just 3.2% of total apparel sales in the US, they now account for 23% of this $343 Bn market. Over 100 billion items of clothing are available for sale each year, and with eCommerce growing at a rate of 12% this number is only increasing.