From viral videos to emerging trends and tech innovations, the fashion and retail industry is always abuzz with new developments. In this article, we’ll highlight some of the hottest topics in the past month, including the growing influence of the singles economy, the rise of blokecore fashion, and the exciting possibilities of Web3 and virtual fashion.
(from the RetailFriday platform)
Singles economy, or solo economy, is a term used to describe the growing population of single-person households, and the economic impact they have. This household unit has its own unique consumption habits and lifestyle preferences, which have led to the development of new markets and business opportunities. As more people choose to live alone (this trend is especially prevalent in China), the singles/solo economy is becoming an increasingly important part of the global economy.
A video of an unmarried aunt handing out money for the Lunar New Year went viral on Douyin. There are also lots of discussion about singles economy in Weibo. (Source)
The five requirements for luxury brands to appeal to singles. (Source)
From the growing population of single-person households and the economic impact they have, we move on to a new fashion trend called blokecore. Blokecore is a casual style inspired by football, featuring practical sportswear or outdoor clothing, such as wearing a soccer jersey with a pair of jeans or shorts. This trend has become increasingly popular, with a surge in TikTok videos showcasing vintage football T-shirt collections and obscure sports gear. The FIFA World Cup held last December has also accelerated the blokecore trend. In Xiaohongshu (小紅書), a popular social media platform in China, hashtags such as #球衣潮流攻略 and #blokecore have gained a combined total of around 20 million views.
(from the RetailFriday platform)
Following the rising trend of blokecore, the fashion industry is also seeing a surge in Web3-related items. Web3 is the third generation of the Internet that focuses on decentralization, privacy, and user ownership of data. It offers new opportunities for consumers to engage with fashion in a digital space, such as virtual fashion. This year, many brands launched metaverse and Web3 projects. For instanct, China’s first metaverse-dedicated sneaker brand, Meta Street Market, opened an offline flagship store at Shanghai’s K11 Art Mall last month. Additionally, Italian luxury fahsion house Valentino partnered with NFT marketplace UNXD on a new metaverse/Web3 project.
(from the RetailFriday platform)
Web3 projects of Meta Street Market and Valentino. (Source)
The fashion and retail industry is constantly evolving with new developments, and in the past month, we have seen several interesting topics emerge. From the growing importance of the singles economy and its unique consumption habits to the rise of blokecore fashion, inspired by practical sportswear and outdoor clothing, and the exciting possibilities of Web3 and virtual fashion, which offer new opportunities for consumers to engage in a digital space. These trends are gaining momentum and are likely to shape the industry’s direction as the year progresses. It will be interesting to see how these trends evolve and impact the industry in the coming months.