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Nov 29, 2023 · Ten themes for 2024. To prepare for challenges and be alert to opportunities, leading fashion companies will likely prioritize contingency planning for the coming year. A key theme will be companies keeping a firm grip on costs and inventories while driving growth by precisely managing prices.
The Business of Fashion, Robb Young oversees content from Asia-Pacific, the Middle East, Latin America, Africa, the CIS and Eastern Europe. He is an expert on emerging and frontier markets, whose career as a fashion editor, business journalist, author and strategic consultant has seen him lead industry projects around the world.
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The accessories segment of the global e-commerce fashion market generated a revenue around $261.5 billion dollars in 2021. The footwear market had a revenue of around $122 billion dollars in 2021. Source: Statista, April 2022. The e-commerce fashion industry is expected to grow to $744.4 billion dollars in 2022.
- Global Fashion Industry Trends and Overview. After the fall in demand due to the pandemic, the fashion industry has been growing since. There is a shift towards digitalization worldwide, and the demand for athleisure is also increasing.
- United States Apparel Industry Statistics. With the highest GDP and continuously changing trends, the USA is the center of everyone, including fashion designers.
- Fashion eCommerce. With the increase in the usage of phones and busy schedules, people, especially Gen Z, have started ordering online. Fashion is the mainstream of eCommerce now, let’s see how it is the most sought-after option nowadays
- Second-Hand Apparel Market. As conscientious consumers embrace eco-friendly choices, the second-hand market has emerged as a beacon of fashion-conscious and environmentally responsible shopping.
Nov 29, 2023 · Key insights. As a whole, the fashion industry is predicted to achieve year-on-year retail sales growth of between 2 percent and 4 percent in the year ahead. Macroeconomic, geopolitical as well as climate-crisis pressures will challenge the industry’s growth, with more than 50 percent of fashion executives surveyed planning to raise prices to ...
Nov 30, 2022 · The 10 fashion industry themes that will set the agenda in 2023: 1. Global Fragility. Amid the highest inflation in a generation, rising geopolitical tensions, climate crises and sinking consumer confidence in anticipation of an economic downturn, the global economy is in a volatile state.
Nov 29, 2022 · Based on McKinsey’s analysis of fashion forecasts, the luxury sector is expected to grow between 5 and 10 percent in 2023, driven by strong momentum in China (projected to grow between 9 and 14 percent) and in the United States (projected to grow between 5 and 10 percent).
