… The affordable luxury expects luxury to continue at strong 3.5 to 4.5 percent growth. For those leaning forward and willing to help design the new features of the modern fashion system, the opportunities at hand to truly connect with fashion consumers across the globe have never been greater. Fashion business should predictably unpredictable. TL;DR – The State of Fashion 2018 aims to look ahead and uncover the trends shaping the fashion industry in 2018. As consumers’ obsession with mobile grows, the end-to-end transaction will also likely move to mobile. It will be a year of awakening after the reckoning of 2018 — a time for looking at opportunities, not just challenges. The project industry sales growth of 3.5 to 4.5 percent in 2018. The McKinsey Global Fashion Index forecasts industry sales growth to … The ongoing polarisation of the industry with consumers trading up or down from mid-market price points continues to create headwinds for mid-priced fashion players while those operating in the luxury, value and discount segments further pick up speed. In 2018, there are few fashion system that shown. The motto of this edition: "Fashion needs to change, we all know it. Video: The State of Fashion 2018. The consumer in 2018 will also show some changes, such as getting personal. ... State of Fashion … This download is only available to registered users. In 2018, the top challenges have been identified, such as dealing with volatility, uncertainty and shifts in the global economy, competition from online and Omni channel, value chain improvement and digitisation, and decreasing foot traffic and offline retailing pressure. }. This outlook varies across value segments too. Its database of over 500 private and public companies allows … Website showcasing the theme for the 2018 edition of State of Fashion, starting June 1 2018 in Arnhem. Traditional and heritage players will continue to be compelled to open their minds up to new types of talent, new ways of working, new kinds of partnerships and new investment models. Are These Fashions Linked to Forced Labour? The West will no longer be the global stronghold for fashion sales. The West will no longer be the global stronghold for fashion sales. Off-price sector growth continues to be driven by the notion that it provides a solution to challenges like excess stock and slow growth, but the US market serves as a warning about saturation and possible sales cannibalization. Source: BoF, YouTube. The State of Fashion 2018 | BOF & McKinsey – was created to provide a comprehensive view of the fashion industry. Leading players are therefore creating innovative business models, using granular customer insights as a source of differentiation and pushing the limits of their end-to-end product development process. To help fashion ecommerce companies capture this opportunity, we’ve analyzed granular consumer behavior from 1.2 billion site visits across a wide cross-section of growth-stage online stores within the fashion … Click below to download BoF and McKinsey & Company's in-depth report on the global fashion industry in 2018, focusing on the themes, issues and opportunities impacting the sector. Furthermore, people nowadays are mobile obsessed. the project. Average revenues for the global fashion industry are expected to rise between 3.5 and 4.5 percent in the coming year, to a total of $2.5 trillion according to The State of Fashion 2018… There is general agreement that 2016 was one of the most challenging years the fashion industry has ever seen. The State of Fashion 2018 by The Business of Fashion (BoF) and McKinsey: Slower growth in mature markets, stronger polarization between winners and losers and ten trends set to shape the industry in 2018. 2018 will be a watershed year in fashion, when Asia comes into its own … In 2018 we expect this development to continue across all regions. The Report aims to; establish a common understanding of the forces impacting the industry, shed some clarity... GROWTH AHEAD. The State Of Fashion 2018. AI enhancements will go beyond the traditional areas of machine tasks into creative and customer interaction processes, blurring the line between technology and creativity. We know we have serious skill and talent gaps within apparel organizations – the last … In 2018, an important tipping point will be reached when, for the first time, more than half of apparel and footwear sales will originate outside of Europe and North America, as the main sources of growth are emerging market countries across Asia-Pacific, Latin America and other regions. Off-Price Deception | The State of Fashion 2018 | The Business of Fashion by The Business of Fashion. Click here to download the report “The State Of Fashion 2019” by BOF & McKinsey. In fact, 2017 signals the end of an era. But how? Personalisation and curation will become more important to the customer. Its principal aim remains to lay out the interconnectedness of the entire fashion ecosystem across … And while “uncertain” and “challenging” remain the most common words that executives in the BoF-McKinsey Global Fashion Survey have used to describe the state … Be among the first to receive news from eMAG! Fashion companies and executives must continue to be vigilant and nimble in order to adapt to an ever-changing environment but they will increasingly focus on directing their energies towards what is within their control. The fashion industry is going through a seismic shift. Despite the rise of nationalism, isolationist rhetoric and re shoring, globalization will not stall. Our second State of Fashion Report with McKinsey & Company makes new predictions for the year ahead. The year 2018, the global economy will show things that unimaginable for fashion business. ‘State of Fashion 2018: searching for the new luxury’ will take place from June 1 st to July 22 nd, 2018. © 2020 The Business of Fashion. Not surprisingly, this is also reflected in fashion executives’ sentiments, as respondents from emerging markets are more optimistic about the industry’s outlook in 2018. With two thirds of the world’s e-commerce unicorns, more than half of global online retail sales, and countless digital and tech innovations, Asia is no longer waiting for Western companies to step up Asian players will assert their power and leadership even more through pioneering innovations and global- scale investment and expansion. Dutch Retailers Grapple With Sudden Christmas Lockdown, Shahi Exports’ Anant Ahuja on Reforming the Fashion Supply Chain, De Beers Raises Diamond Prices for First Time Since Pandemic, Facebook, Twitter Face British Fines if Fail on Harmful Content, Careers Counsel | How to Improve Your Communication Skills, Get Out of China’s Coercive Cotton Fields, Raf Simons Debuts Multidisciplinary E-Commerce Platform. Dec 20, 2017. We forecast particularly strong growth of 4 to 5 percent in the discount segment for 2018, continuing its strong trajectory from 2017. Things are looking up, but the rebound may be uneven, says this year’s The State of Fashion report. Other than that, there will also have start-up thinking. We expect to see several themes emerge as defining features of 2018, from Asian fashion players asserting their power on the global stage to personalisation at scale and cutting-edge deployment of artificial intelligence. For our 4th annual State of Influencer Marketing report, not only have we surveyed 600 fashion, luxury and cosmetic professionals, but we’ve also counted on the opinions of 200 influencers and held an … Now used to uncertainty after living with it for so many years, in 2018 fashion executives have begun to think less about survival and much more actively about their strategic agenda. join us in our search for … With an overabundance of mobile payment solutions already available globally, consumers will expect fashion companies to cater for increasingly convenient mobile transactions. Other than that, Asian trailblazers. 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