4. But, the rise of digital marketplaces is an overnight success more than twenty years in the making. By causing blows to both supply and demand, the pandemic has brewed a perfect storm for the industry: a highly integrated global supply chain means companies have been under immense strain as they tried to manage crises on multiple fronts as lockdowns were imposed in rapid succession halting manufacturing in China first, then Italy, followed by countries elsewhere around the world. But, the rise of digital marketplaces is an overnight success more than twenty years in the making. We expect that themes of digital acceleration, discounting, industry consolidation and corporate innovation will be prioritised once the immediate crisis subsides. As against this, one-third of fashion buyers are likely to buy online by 2020. Water and Sanitation 3. State of Fashion is an international fashion platform that connects pioneers in fashion design, research and business, and shares their ideas and innovations with the world. And you can see and buy those styles mixed with contemporary flair today thanks to Kent State University alumnus, Adam Forrester, who recently designed pieces for the “Fresh Prince of Bel-Air’s” 30th-anniversary collection. Facebook Twitter Linkedin Reddit Tumblr Google+ Pinterest Vk Email. Perhaps you would be interested in our most recent articles. Energy 14. In this year’s outlook, we explore convenience, what it means today, and how retailers can position themselves to take on the challenge. Yet fashion, due to its discretionary nature, is particularly vulnerable. mail at abc microsoft com1 microsoft way redmonda a a c a ae a a aaaai caaª a a ai i aaº12345 abcc a a a c seattle, mail at abc microsoft com1 microsoft way redmonda a a c a ae a a aaaai caª a a ai i aº12345 abcc a a a c seattle, mail at abc microsoft com1 microsoft way redmonda a a c a ae a a aaaai cª a a ai i º12345 abcc a a a c seattle. This unforeseeable humanitarian and financial crisis has rendered previously planned strategies for 2020 redundant, leaving fashion businesses exposed or rudderless as their leaders confront a disorientating future and vulnerable workers face hardship and destitution. Revenues are expected to grow at a CAGR1 of 7.9% up to 2025, resulting in revenues of US$1,635.8 billion. Studiu: starea industriei de fashion în 2019. by Loredana Săndulescu; 8 ianuarie; SHARE . Site Map Good thing our market research tools can keep up! As an industry, we are now on red alert. In 2020 we have seen tech workers fired for organizing unions, designers laid off for reaching out to workers on the ground, and employees silenced at multiple levels by company leadership. The coronavirus also presents fashion with a chance to reset and completely reshape the industry’s value chain — not to mention an opportunity to reassess the values by which we measure our actions. Download the full report to explore the 10 themes which will define the global fashion industry in 2020. Key Insights: The European fashion industry registered the equivalent of six years' growth in online shopping penetration, rising from 16 percent of total sales in … They need to cut across the purchase journeys of these digitally influenced consumers, looking beyond e-commerce. As noted in our previous reports with themes on “Getting Woke,” “Radical Transparency” and “Sustainability First,” the consumer mindset was already showing signs of shifting in certain directions before the pandemic. amanda.stade@sdstate.edu, 605.688.4167. State of the Province Address 2019 (Publication) 28 June 2019 . Due to this women fashion 2020, every woman has the chance to be sexy even at the workplace. Meanwhile some of the shifts we will witness in the fashion system such as the digital step change, in-season retail, seasonless design and the decline of wholesale are mostly an acceleration of the inevitable — things that would have happened further down the road if the pandemic had not helped them gain speed and urgency now. Download fashion’s most authoritative report here. 04 March 2020. For workers in low-cost sourcing and fashion manufacturing hubs such as Bangladesh, India, Cambodia, Honduras and Ethiopia, extended periods of unemployment will mean hunger and disease. The Chinese market is worth US$862.6 billion in 2019, with Fashion being the biggest segment. Category: The State of Fashion 2019. We estimate that revenues for the global fashion industry (apparel and footwear sectors) will contract by 27 to 30 percent in 2020 year-on-year, although the industry could regain positive growth of 2 to 4 percent in 2021. The State of Fashion 2019 marks the third year of an ongoing partnership between The Business of Fashion and McKinsey & Company, bringing analytical rigour and evidence to better understand the rapidly changing global fashion industry and providing an authoritative point of view on the state of fashion in the year to come. Exactly when this will happen is impossible to know for sure, except that it will, in all likelihood, be linked to the discovery of a workable antiviral treatment and delivery of a proven vaccine, which some experts say is at least 12 to 18 months away. The state of fashion for 2019, as analysed and predicted by McKinsey and the Business of Fashion. We expect a period of recovery to be characterised by a continued lull in spending and a decrease in demand across channels. Try watching this video on www.youtube.com, or enable JavaScript if it is disabled in your browser. Brands Can’t Confidently Say No. Global Convergence of ICT 7. They need to cut across the purchase journeys of these digitally influenced consumers, looking For more information read our Terms & Conditions and Privacy Policy. THe STATe OF THe INdUSTry A It’s tIme for a fashIon revolutIon whIte paper december 2015 . A special “Fashion Revue Script” sheet, available at the Extension Office or online, must be filled out by the contestant for the Public Fashion Revue. Global Foresight and Decisionmaking 6. This will also be a time for collaboration within the industry — even between competing organisations. The State of Fashion 2020 CONTENTS Executive Summary 10—11 Industry Outlook 12—15 Global Economy 18—31 01: On High Alert 19 02: Beyond China 23 Southeast Asia: A Region of Nuanced Opportunity 26 Russia: Signs of Resurgence in a Polarised Market 28 The GCC: A Region in Transition 30 Consumer Shifts 32—59 03: Next Gen Social 33 Want to See the Future of Social Media? Amanda Stade, SDSU Extension State 4-H Events Management Coordinator . b) The production of fashion goods by designers, manufacturers, contractors, and others. State of the Province Address 2019 (Publication) 27 February 2019 . ABOUT THE AUTHOR(S) Anita Balchandani is a partner in McKinsey’s London office, where Shrina Poojara is a consultant; Achim Berg is a senior partner in the Frankfurt office; Saskia Hedrich is a senior expert in the Munich office; and Felix Rölkens is an associate partner in the Berlin office. PREVIOUS STATE OF THE PROVINCE ADDRESSES. To cope with new restrictions, mitigate the damaging impact of the pandemic and adapt to economic and consumer shifts, companies must introduce new tools and strategies across the value chain to future-proof their business models. Forward-thinking retailers are setting the expectations bar high for the rest of the pack. Digital innovation, rising globalization, and changes in consumer spending habits have catapulted the fashion industry into the midst of seismic shifts. The average market capitalisation of apparel, fashion and luxury players dropped almost 40 percent between the start of January and the 24th of March 2020 — a much steeper decline than that of the overall stock market. ACKNOWLEDGMENTS PREFACE EXECUTIVE SUMMARY GLOBAL CHALLENGES 1. Once the dust settles on the immediate crisis, fashion will face a recessionary market and an industry landscape still undergoing dramatic transformation. 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