McKinsey Research: Global Fashion Industry Expects Challenging 2026
27.11.2025 2407

McKinsey Research: Global Fashion Industry Expects Challenging 2026

McKinsey has forecast the state of the fashion industry in 2026 based on a survey of company executives.Around 46% of respondents expect the industry to worsen in 2026. The reasons include macroeconomic uncertainty, cautious consumer behavior, and structural factors such as tariffs and supply chain disruptions, writes Worldfootwear.com.

Geographically, 36% consider North America to be a region with no or very little potential, double the percentage last year.

Interest in the Chinese market is growing: only 28% of respondents consider this country's market unpromising in 2026, compared to 41% in 2025.

Overall, the global fashion industry is expected to show low growth in 2026. However, the luxury goods sector may see a slight improvement. Amid inflation and economic uncertainty, shoppers are increasingly focusing on value, prioritizing quality, durability, and meaningful brand interactions.

Company executives consider artificial intelligence (AI) a valuable tool for advancing the fashion market. "More than 35% of executives report using AI in areas such as online customer service, image creation, copywriting, consumer search, or product search."

According to McKinsey, 2026 will require brands to be flexible. Those who can quickly adapt, leverage technology, and build direct relationships with customers will be better positioned to navigate the challenging world ahead.

Marina Shumilina

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McKinsey forecast the fashion industry for 2026 based on a survey of company executives. Approximately 46% of respondents expect the industry to worsen in 2026. The reasons are…
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