Fashioning the future

: can AI-enabled fashion rental platforms drive sector disruption?

Abstract

The fashion rental model aims to attract customers by offering possibilities to experiment with styles, while consuming sustainable. As fashion rental companies lack widespread success, companies are searching for ways to captivate potential customers. Generative artificial intelligence in the fashion market has gained attention in recent times, and companies are trying to leverage its features to offer their customers an advanced experience. This thesis explores the transformative impact of AI on the fashion rental sector, focusing on its ability to reshape consumer attitudes and potentially drive sector disruption. A review of the literature addressing fashion rental, AI, diffusion of innovation, first mover advantages and consumer adoption intention was conducted to gain secondary data. Primary data was collected through expert interviews and a survey. Finally, secondary data and primary data were triangulated, and possible future scenarios were created. Results revealed that mass adoption will likely not be reached by integrating AI in the customer journey, with AI features not leading to sector disruption. However, there exists a target group that is willing to heighten their willingness to adopt when presented an AI-enabled platform. Offering companies the opportunity to focus on the expansion in an existing niche market in which the business model itself is accepted by consumers.

Date of Award	2 May 2024
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Peter Rajsingh (Supervisor)