McKinsey identifies 10 macro trends in fashion for 2024
30.11.2023 2550

McKinsey identifies 10 macro trends in fashion for 2024

The annual report of the global consulting company McKinsey& Company, compiled in collaboration with the Business of Fashion publication “The State of Fashion,” highlighted ten macrotrends that will influence the state of the fashion segment and fashion companies in the coming year.

In first place among the ten macrotrends that will influence the development of the fashion business in the world is the loss of certainty, the so-called “fragmented future.” Secondly, the climate, which will affect strategy throughout the supply chain and will require companies to be more flexible. In third position is travel. Fashion brands will have to adjust their products and strategies, including distribution, to capture consumer routes. The fourth point is influencers. And in this area there will be a turnover of personnel, and it will be necessary to identify those who are now truly influential people.

The fifth trend concerns outdoor advertising, which is gaining momentum after Covid. Industry professionals are expected to explore new areas such as lifestyle and the impact of technological innovations. In this regard, it is impossible not to mention generative artificial intelligence, both in operational and creative processes. In seventh place is fast fashion, where competition will become fiercer. In eighth place, the report indicates brand marketing, which will overtake performance marketing: winning end consumers will occur through the establishment of deep emotional connections between the brand and the consumer. The ninth point is that sustainable development will force fashion companies to reconsider their approaches, including due to legislative changes. Finally, it is worth mentioning the volatility and instability of demand, which will have an impact on pre-orders, the risk of excess production may create an imbalance between investments and the companies' actual potential income.

The annual report of the global consulting company McKinsey& Company, compiled in collaboration with the Business of Fashion publication “The State of Fashion,” highlighted ten macrotrends that will…
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