The Impact of Artificial Intelligence in Fashion Retailing in Colombo, Sri Lanka

Abstract

"According to research conducted in the US and the UK in 2021, the Covid-19 pandemic has accelerated consumer adoption of digital technology and attracted a lot of people to digital channels, products, and services (Rocca, 2021). Every year, a brand-new, eye-catching technological advancement seems to capture the limelight and prophesy radical upheaval. Businesses rushed to invest in the metaverse as it gained popularity in 2022 (Napoli et al., 2023). With the introduction of Information technology, fashion is no longer limited to physical stores. The fashion business has gradually changed to a more social media and mobile-friendly environment, which has created opportunities for AI to shape this market's future. The purpose of this paper is to examine the impact of Artificial intelligence in fashion retailing in Colombo, Sri Lanka. The current issue is that while the rest of the world is advancing technologically, Sri Lanka's fashion retail sector is lagging. There is currently a disconnect between worldwide fashion trends and Sri Lanka's fashion industry's use of modern fashion technology. Customer requests are being met while improvements are also being made to match changing customer expectations to be located. Artificial intelligence (AI) in retail solutions can bridge the gap between organizations and customers by providing massive amounts of information that assist customers in better understanding their preferences. Specific objectives of the research are to identify the dimension of artificial intelligence-based technology in global and local fashion retailing, to analyse the impact of AI-based technology in fashion retailing, and to provide recommendations and suggestions for Sri Lankan fashion retailers in order to improve their satisfaction and sales. This has conducted as qualitative research with an observational study. Study was conducted as inductive research. For the purpose of primary data collection, an online interview conducted with 08 expertise in the industry. The sample is representing the AI software developers in Colombo, Sri Lanka. Finally, the study makes recommendations for fashion shops on how to boost consumer satisfaction and sales."