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"The latest McKinsey & Company State of Fashion 2024 report revealed that 70 percent of top procurement officers believe that improving transparency with suppliers is critical in navigating market turmoil." From the article "Transparency is the New Black: Fashion Production Trends for 2024" for WWD. #transparency #traceability #fashion #suppliers #supplychain

https://lnkd.in/gJQwSNgf In 2023, the global fashion industry will need to weather inflation while finding opportunities in shifting consumer patterns, channel and digital marketing strategies, and manufacturing approaches. From McKinsey & Company #fashion #consumerbehavior #lifestyle #supplychain #logistics #fashionindustry #opportunities #manufacturing

The global fashion industry is anticipated to confront the challenge of inflation in 2023, along with the need to identify prospects arising from changes in consumer preferences, marketing strategies related to channels and digital mediums, and manufacturing techniques. #marketing #manufacturing #fashionindustry #textileindustry #textilenews #research #fashion #fashionmarketing #consumerbehavior #styleanddesign

U.S. Fast Fashion Market Poised for Exponential Growth: Projected to Reach $59.85 Billion by 2030 The U.S. Fast Fashion Market is anticipated to witness remarkable growth, soaring from $41.15 billion in 2023 to an estimated $59.85 billion by 2030, reflecting a robust CAGR of 5.5%. The surge is attributed to pivotal factors such as increasing disposable incomes and the influential role of social media in shaping #fashion trends. https://lnkd.in/dD4G2U-e

Where do you think the industry is headed? Explore the latest research and predictions for the #fashionindustry in McKinsey's 2024 State of Fashion report: https://lnkd.in/dA5zk23

Read an insightful article by McKinsey & Company about fashion retail reports and what is coming in 2024! Fashion companies will face economic headwinds, technology shifts, and an evolving competitive landscape in 2024. However, shifting consumer priorities will continue to offer opportunities. https://lnkd.in/d88bmtHM

I have just scanned through the State of Fashion 2024 edition published by The Business of Fashion and McKinsey & Company. I was intrigued to see any distinctive changes surrounding fashion sales in Europe compared to the previous year. Would the upcoming year be more promising for fashion brands than 2023? Here are 2 things I want to highlight from the report: - Slower but anticipated growth across Europe, the US, and China are predicted 📈. An important change compared to 23' where a decline in sales in Europe was expected  - Their expectation of worse conditions in the fashion industry has decreased by 18%

According to McKinsey & Company and The Business of Fashion's report, this year fashion companies will face economic headwinds, technology shifts, and an evolving competitive landscape. However, shifting consumer priorities will continue to offer opportunities. Brands and retailers, are you ready for 2024? 🎯 #fashion #retail #trends

🚀Navigating the currents of uncertainty with KANE TOP's innovative supply chain strategies from the insightful The Business of Fashion report. In times like these, supply chain agility is key, and KANE TOP's approach resonates with the global landscape. Download the report and find out more: https://lnkd.in/g498sYdd #SupplyChainInnovation #KANETOPStrategy #BOFInsights

"The eighth annual State of Fashion report by The Business of Fashion and McKinsey & Company reveals an industry navigating deep uncertainty." 10 themes that will define the industry and the opportunities for growth in the year ahead.