Digital revolution in fashion: a globalization perspective and new challenges

The article is devoted to studying the digital revolution in the fashion industry, its globalization dimensions, and its new challenges. The emphasis is on the fact that today, fashion is an essential component of commercial activity and is actively integrated into the market economy. Based on the parameters provided, the formation of an economic mechanism is traced, which encompasses the development of new concepts and creative ideas, establishing pricing policies, organizing designers’ work, and collaborating with commercial sales structures. The characteristic features of economic entities are highlighted, including the marketing mix, diversification of products and markets, mergers and acquisitions, investments, complex production and technological cycles, and participation in stock markets. The key role of globalization processes in transforming the fashion industry, encompassing changes in clothing production, sales, and consumption worldwide, as well as the effective use of digital tools and channels, is highlighted, considering economic, cultural, and technological trends. This transformation impacts fashion trends, consumer behavior, and production itself. The cross-cultural exchange between small brands and independent designers is analyzed, contributing to a more diverse and competitive fashion environment. It is emphasized that the emergence of digital technologies, particularly blockchain technology, accelerates this cultural exchange, and social media platforms and e-commerce sites enable consumers to fulfill their needs and verify information quickly. The integration of global supply chains, which involves raw material production in one country, manufacturing in another, and sales worldwide, is fueling the growth of fast fashion – a business model characterized by rapid production cycles that respond quickly to dynamic consumer demands. It is concluded that the fashion industry reflects the need for necessary transformations in modern society. The emphasis on sustainability, inclusion, digitalization, and personalization demonstrates that fashion is becoming more conscious, technologically advanced, and open to diversity. Those brands that adapt to new trends remain competitive and lead the way. Keywords: digitalization, marketing tools, market analysis, artificial intelligence, globalization approach.