The AI-Based Personalized Stylist Market Size is valued at 69.82 Million in 2022 and is predicted to reach 1102.29 Billion by the year 2031 at a 36.0 % CAGR during the forecast period for 2023-2031.
Personal stylists assist customers in creating the most appropriate image by selecting clothing and accessories that complement their body shapes and specific demands. They may also offer fashion advice and help with hair, makeup, and other services. Artificial Intelligence can improve customer-retailer interactions on the e-commerce platform with the help of AI chatbots that ask clients about their preferences and speed up product search. AI assists clients directly and indirectly also. For instance, Smart mirrors scan the customer using AI visual recognition and suggest outfits that complement the clothes they are wearing in the correct size and fit. On the other hand, they can be used to scan a product and see different ways to style a complete outfit with other products in the store. With customers expecting increasingly personalized and fast service, AI looks set to be a part of meeting these expectations.
Technological developments, research on AI use and productivity, increased funding and investments, and fast strategic collaborations between fashion companies and AI developers drive the AI-based personalized stylist market for the upcoming forecasting period. In 2020, Lily AI secured funding to expand personal recommendation tech. Lily AI announced that it has secured $12.5 million in Series A funding and utilizes "deep product data and anonymized customer behaviour data" to present personalized e-commerce experiences, according to the company.
Market Segmentation
The AI-Based Personalized stylist market is segmented into types and categories. The market Type includes chatbots, personal shoppers and visual shoppers. Chatbot AI is widely used by the e-commerce platform to approach customers. While by category market is divided into apparel, accessories, footwear, beauty & cosmetics, jewellery and others. Apparels and cosmetic industries use AI power to upgrade themselves more than others.
North America region is likely to be the largest market throughout the forecast period. The industry is quickly developing as a result of a number of factors, including rising social media adoption, local company expansion, and government efforts to promote AI.
Competitive Landscape
Some Major Key Players In The AI-Based Personalized Stylist Market:
- Bestlook
- ClothStudio
- Dressipi
- Dresslife
- Epytom
- Intelistyle
- Lily
- Mallzee
- ModeWalk
- Mona
- Shop It To
- ShopLook
- Stitch Fix
- Stryde Men
- Stylebook
- Stylitics Inc.
- Syfto
- The Yes
- VueStyle
- Wardrobe Essentialist
- Xpresso
- me
- StyleScan
- ai
- YesPlz, Inc.
AI-Based Personalized Stylist Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 69.82 Million |
|
Revenue Forecast In 2031 |
USD 1102.29 Million |
|
Growth Rate CAGR |
CAGR of 36.0 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, By Category |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Bestlook, ClothStudio, Dressipi, Dresslife, Epytom, Intelistyle, Lily, Mallzee, ModeWalk, Mona, Shop It To, ShopLook, Stitch Fix, Stryde Men, Stylebook, Stylitics Inc., Syfto, The Yes, VueStyle, Wardrobe Essentialist, Xpresso, Style.me, Pixyle.ai, StyleScan, glood.ai, YesPlz, Inc |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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