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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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- Inflation and Geopolitical Tensions Loom
- Ten Themes For 2023
- Looking Ahead
Inflation is at the top of executives’ minds for the coming year, according to results from the annual Business of Fashion and McKinsey State of Fashion Survey. They expect that inflation will undercut consumer demand, pushing shoppers to curtail fashion spending or trade down for less expensive products as their energy and grocery bills spike. Fas...
This year’s report presents a difficult outlook ahead, as fashion companies face challenges and revise forecasts downward after an exceptionally strong 2021, per McKinsey analysis of global data in the fashion industry. Inflation and geopolitical concerns dominate the agenda for 2023, negatively affecting both consumer demand and brands’ operating ...
Bereft by global risks and uncertainties, leaders in the fashion industry will need to pay careful attention to macroeconomic and political issues in the regions where they produce and sell their products in the year ahead. They will need to develop risk mitigation strategies that can be implemented quickly as conflicts, fiscal policies, and govern...
- On high alert. After an extended period of relatively strong growth, the economic outlook for 2020 appears to be more subdued, with both developed and emerging markets set for a period of retrenchment.
- Beyond China. China offers fashion players an outstanding opportunity, but it is no pushover. Over the past ten years, China accounted for 38 percent of global fashion-industry growth, with the luxury segment taking a lead.
- Next-generation social. There is no doubting the power of the big social-media platforms. Facebook counts around half the world’s population as its customers, and Instagram and WeChat are not far behind.
- In the neighborhood. Consumers are growing tired of constant emails, tweets, messages, and videos. Instead, there is a craving for a simpler relationship with fashion players.
May 31, 2023 · Notable fashion labels in this sector include Calvin Klein, Ralph Lauren, Tommy Hilfiger, and Michael Kors as just four examples; online sales now make up an increasing share of retail sales, making e-commerce an ever-more important channel for US fashion businesses.
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 ...
Jan 5, 2022 · Sustainable fashion: Where the industry is heading in 2022. This year, a lot of planning was done around fashion sustainability — but less action. The biggest theme as we head into 2022 is the interconnection between carbon emissions, equity and supply chain. By Rachel Cernansky. January 5, 2022.
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.
