Fashion brand companies will need to address these issues and alter their business models in order to avoid inflicting extra costs onto their consumers. McKinsey Global Digital Sentiment Insight Survey, 2021. In the final session of BoF's annual gathering, speakers from model Dennis Okwera and Coty chief Sue Y. Nabi to Nike's Larry Miller and activist Malala Yousafzai reflected on their personal histories and inner powers. This #BoFLIVE event is based on 'The State of Fashion 2022: Global Gain Mask Recovery Pains' report. BoF's Imran Amed and McKinsey & Company's Achim Berg answer questions about the December report's key findings and predictions. Looking ahead, the impact of technology on peoples lives may accelerate. According to the report, 60% of fashion executives have already invested or plan to invest in closed-loop . For Ciscos 2022 projection, see Cisco Visual Networking Index: Global mobile data traffic forecast update, 2017-2022, Cisco, February 2019. The Virtual Economy, LAtelier, 2022. McKinsey_Website_Accessibility@mckinsey.com. Overall, I really enjoyed learning about what to watch out for in the future of fashion but also studying how COVID has made a huge impact on the fashion industry as a whole. Apesar disso, o The State of Fashion 2023 indica que a indstria aumentou a resilincia para enfrentar estas presses. Conversely, those that are slower to invest in digital technology will lag behindand could see a 23 percent relative decline. Find a . Amid demand for products such as virtual fashion and NFTs, fashion companies focused on metaverse innovation and commercialization could generate more than 5 percent of revenues from virtual activities over the next two to five years. 6 The data shows 70 percent respondents want to change to nearshoring and 25 percent respondents want to reshoring. After nearly two years of disruption, the global fashion industry is once again finding its feet. BoF and McKinsey's annual State of Fashion report forecasts that global fashion sales will surpass their pre-pandemic levels in 2022 after revenues and economic profit fell sharply at the onset of the pandemic. I wonder if consumers would be upset or if it might allow consumers and brands to breathe a little bit more and not focus on getting new items so quickly. Anita Balchandani is a senior partner in McKinseys London office; Achim Berg is a senior partner in the Frankfurt office; Holger Harreis is a senior partner in the Dsseldorf office; Manuel Hurtado is a consultant in the Madrid office, where Carlos Sanchez Altable is a partner; Roger Roberts is a partner in the Silicon Valley office; and Saga af Petersens is a consultant in the Stockholm office. As fashion industry executives consider how to maximize their technology resources, McKinsey and the Business of Fashion have identified five key themes that could help the industry address some pressing challenges, as well as unlock potential opportunities: metaverse reality check, hyperpersonalization, connected stores, end-to-end upgrade, and traceability first. 9. We strive to provide individuals with disabilities equal access to our website. The 5th annual State of Fashion document via The Business of Fashion and McKinsey & Company forecasts that the worldwide model Find extra similar articles about key phrases bof 3 know-how The sixth annual State of Fashion report by The Business of Fashion and McKinsey & Company forecasts that the global fashion industry will find its feet again after nearly two years of disruption, though supply chain headwinds will threaten growth prospects. Download the full report to understand the 10 themes that will define the industry in the year ahead and how to navigate the currents they create. It presents many aspects of fashion . . The findings of The BoF Sustainability Index 2022 are stark. McKinsey estimate based on expert interviews and inputs. 39% dos executivos de moda esperam que as vendas de roupa para ocasies especiais estejam entre as trs principais categorias de crescimento em 2023. In the year ahead, companies will unlock new money-making and brand-building opportunities in the digital world, improve sustainability through closed-loop design strategies, which repeatedly recycle textiles so they remain in constant circulation, and emerging technologies like product passports digitised labels which use blockchain and the likes of QR codes to allow consumers access to information about a products materials, manufacturer and other sustainability credentials. Textile and Apparel Manufacturing: Output, Employment, and Trade (Updated May 2022), US-China Tariff War and Apparel Sourcing: A Four-Year Review, Outlook 2023 Key Issues to Shape Apparel Sourcing and Trade, Outlook 2023 Key Issues to Shape Apparel Sourcing andTrade, Video Discussion: Textile Manufacturing in America, post-globalisation, WTO Reports World Textiles and Clothing Trade in2021, FASH455 Industry/Internship StoriesAlly Botwinick, American Apparel and Footwear Association(AAFA), Modaes (Spain) Exclusive Interview about the Latest Global Apparel Trade and Sourcing Trends (October2022), 2022 WTO Public Forum: Resilient and Sustainable Fashion Apparel Supply Chain: Trade and TradePolicy, US-China Tariff War and Apparel Sourcing: A Four-YearReview, Utilization of US Trade Preference ProgramsWhy Fashion Companies Make the Sourcing Decisions They Do? Os lderes da indstria esto a navegar numa economia global cada vez mais frgil, esperando-se srias repercusses em 2023. A combinao da guerra na Ucrnia com a . As the largest free trade area, the 15 countries that it consists of will reap duty free benefits due to the agreement. Lauren Thomas, Target CEO says cost of handling online orders drops 90% when shoppers use same-day options, CNBC, November 20, 2019. The BoF Show with Imran Amed; The State of Fashion; Careers. With a decrease in tariff expenses and an increase of product availability for consumers, RCEP could potentially be a driving force in bring the fashion industry back up to speed as the pandemic ends. 2. COVID 19 has had a huge impact on the world and the fashion industry is no exception. It is a major stressor for many companies and consumers alike that within the upcoming months and entering 2022 we will not see much of a change with the supply chain crisis. To make that vision a reality, decision makers may need to optimize their data and analytics capabilities and roll them out at scale. Gastos em Duas Vertentes: A inflao ir desafiar o comportamento dos consumidores. I am also not surprised to see that hyper digital technology is being used to find efficient supply chain decisions and I feel that this will become the normal as technology advances and e-commerce overtakes physical retail. Digital tools and analytics have transformed key parts of the fashion value chain, but these optimizations are often siloed within organizations, limiting the potential of cross-functional improvements. Brands could consider joining forces with peers, start-ups, and industry bodies to establish a common data standard and to share data and knowledge via software platforms, open ledgers, and big data technologies. McKinsey Global Digital Sentiment Insight Survey, 2021. By adopting digitally enabled value chain solutions, brands could see a 50 percent reduction in time to market, an 8 percent rise in full-price sell-through, and a 20 percent decline in manufacturing costs, our analysis shows. SHIFTS Li & Fung: Facing up to Vulnerabilities in the Supply Chain In 2021, fashion companies invested between 1.6 and 1.8 percent of their revenues in technology. Moda Fluida: medida que as diferenas entre roupa masculina e feminina diminuem, as marcas tm uma oportunidade de repensar os processos e operaes comerciais a fim de explorar esta evoluo. Reviso Organizacional: 55% dos executivos apontam a crise de talento como um dos principais fatores de impacto nos seus negcios em 2022. The State of Fashion 2022: Global Gains Mask Recovery Pains, How the Global Wealth Gap Will Impact Fashion, The Year Ahead: Navigating Fashions Uneven Recovery, The Year Ahead: Building Brands With a Metaverse State of Mind. Lauren Thomas, Target CEO says cost of handling online orders drops 90% when shoppers use same-day options, CNBC, November 20, 2019. The list of the 10 most-searched-for fashion items is dominated by simple, wardrobe staples, such as Mom jeans and Chelsea . To operate more efficiently, brands could consider breaking down the silos that have defined many digitization programs and integrating multiple back-end systems, workflows, and data functions. These are some of the findings from The State of Fashion 2022, written in partnership with the Business of Fashion (BoF). Rebecca Moody, Screen time statistics: Average screen time in US vs. the rest of the world, Comparitech, March 21, 2022. BoFs Imran Amed and McKinseys Achim Berg unpack the report, and talk recovery strategies, as well as what opportunities and challenges businesses should be on the lookout for. Agenda-setting intelligence, analysis and advice for the global fashion community. Ao identificar mercados com as mesmas ou mais promissoras perspetivas de crescimento em 2023 do que no ano anterior, 88% dos executivos evidenciam o Mdio Oriente. The pandemic is not gonna be over in the near future. The more developed and technologically advanced countries (China) will be leaders and suppliers for lesser developed countries (Vietnam) while their economic and textile and apparel sectors continue to grow and develop. Exhibit 1. COVID 19 has complicated several main pieces of the fashion industry, sourcing being one of the main parts effected. 11. Soon after, more than 75 percent of enterprise-generated data could be processed by cloud or edge computing. For more information read our Terms & Conditions. For many fashion brands, highly personalized customer experiences are a cornerstone of their digital businesses. That being said, companies and brands who nearshore and get their clothing close as opposed in third world countries will have much better lead times. The way consumers shop has changed as well and it is important to keep that in mind when going into the 2022 year. I would like to hear other peoples opinions on this matter so feel free to reach out or reply to this comment. 10. The inexorable rise of e-commerce has forced fashion players to rethink the role of physical stores. All rights reserved. With the supply chain disruption being a current issue shipping delays are expected. While this may create some important considerations (for example, to ensure that customer data is protected and that data collection follows best practices), the upside could be the ability to acquire and retain loyal customers. For example, as logistics challenges persist in the new year, such as unpredictable pressures on freight services, ports, and terminals, will we perhaps start to see the fast fashion cycle get slower? Roupa Formal Reinventada: Espera-se que o vesturio formal para ocasies especiais seja a categoria de moda mais resiliente, com o aumento da preocupao dos consumidores com a forma como se vestem para o escritrio e eventos especiais. First, logistical challenges are remaining strong due to demand and supply chain disruptions. In the year ahead, companies will unlock new money-making and brand-building opportunities in . 5. The work is very deep because, over a long period of time, Covid has been in the supply chain, distribution, warehouses, etc. The report, the sixth in our series, discusses the major themes shaping the fashion economy and assesses a range of possible responses. Today Google released its Year in Search 2022 report, in which, unsurprisingly, there were lots of searches for Wordle, Queen Elizabeth II and Euphoria, but naturally it's the styling searches that we really honed in on. This could support a move to hyperpersonalization, in which technology could help search-based e-commerce transform into individualized discovery of products and styles. The speed of LTE mobile internet in Russia has dropped by an average of 0.6 megabits per second compared to the same time last year, according to a March study released by Russian information . The start of 2022 was punctuated with much of Japan's fashion industry from major retail giants all the way to niche creatives going gung-ho on Web 3.0's . COVID changed the way the supply chain has run with backups and a slowed down process as a whole. 5. Featuring Achim Berg, senior partner of McKinsey & Company in conversation with BoF's founder and editor-in-chief Imran Amed. In the year ahead, companies will unlock new money-making and brand-building opportunities in the digital world, improve . More than 60 percent of fashion executives believe creating integrated digital processes throughout their organizations will be among their top five areas for digitization as they look to 2025. 14th December at 15:00 GMT / 10:00 EST. The fashion industry is just alike. I feel that the lack of ease with transportation will make it impossible for companies to keep up the current cycle and may force some brands to either release less seasons or make big changes to their buying schedules. One of the few certainties in fashion is that nothing stays the same, and the opportunities offered by technology are continuing to evolve as some markets look to move beyond the challenges posed by the COVID-19 pandemic. Metade dos consumidores da Gen-Z adquiriram moda fora da sua identidade de gnero. Indeed,fashion executives across different value segments have cited plans to increase prices in 2022, with an average expected rise of 4 % in luxury, 2 % in mid-market and 5 % in value, according to the BoF-McKinsey State of Fashion 2022 Survey. 4 Of all the technology-based evolutions affecting the fashion industry, one of particular interest is virtual worlds, also known as the metaverse. By 2030, more than 80 percent of the global population is expected to have access to 5G networks, On the latest edition of BoF LIVE, BoF founder and chief executive Imran Amed and Achim Berg, senior partner, global apparel, fashion and luxury group lead at McKinsey & Company unpack findings from The State of Fashion 2022: Global Gains Mask Recovery Pains and talk recovery strategies as well as what opportunities and challenges fashion leaders should be on the lookout for. Change). We can all agree that the market is just not the same anymore and I dont think it will ever be the same. A proporo de empresas destruidoras de valor (ou seja, aquelas que registam resultados negativos) est agora no seu ponto mais baixo desde 2013. I am fascinated by the Regional Comprehensive Economic Partnership (RCEP) and what its implementation might mean for the apparel and textile industries during the pandemic. Enquanto os compradores com elevados rendimentos e poupanas, acesso ao crdito e maior segurana no emprego vo continuar a gastar em moda, os consumidores de rendimentos mais baixos vo reduzir ou cortar nas despesas discricionrias. Como resultado, 56% dos executivos que foram ouvidos para o The State of Fashion 2023 esperam que as condies se agravem em 2023. The industry is clearly chasing opportunities, and we would hope that in the way the pandemic is becoming endemic, there will be new appetite for dressing up, partying and there will be occasions for it, said Berg. 79% dos executivos de moda apontam a falta de normas a nvel da indstria que os ajudem a avaliar o seu desempenho em matria de sustentabilidade como o maior obstculo para melhorar a forma como os consumidores encaram os seus esforos no sentido de reduzir os danos para o ambiente. I think that keeping the supply chain flexible and diverse is key to success in the upcoming year because the pandemic showed that you cannot rely on a couple people, you need to develop strong connections and long term relationships. McKinsey Apparel CPO Survey 2021. I agree with it. McKinsey estimate based on Ciscos projections through 2022 and extended to 2030. It is up to everyone involved in the supply chain process to adapt to new processes and mold strong relationships to become more flexibile during this troubleing times. Their customers expect nothing less. More than 50 percent of fashion decision makers say traceability will be a top-five enabler of reducing emissions in their supply chains, https . As I learned in the class, it has a huge impact on global trade and apparel sourcing. Lastly, technology is an important new innovative way for countries and production centers to gain a competitive advantage. Also it will be interesting in 2022 to see what will happen to Chinas economy because they just joined RCEP. 8 Companies are constantly improving the online shopping experience for customers, especially considering the fact that this form of shopping will most likely dominate the industry in the near future. Download the report to understand the 10 themes that will define the state of the . Click here to read our full analysis. If brands were sourcing from nearby, their transportation would produce much less of an environmental footprint and would help make brands more sustainable. Behind the predicted increase is a conviction among many that technology could create a competitive edgein customer-facing activities, where companies have mostly focused to date, and, more increasingly, in operations. 5 McKinsey Global Digital Sentiment Insight Survey, 2021. medida que a indstria se debate com os seus impactos ambientais e sociais, a forma como as marcas comunicam as suas garantias de sustentabilidade aos consumidores estar sob escrutnio, enquanto tentam evitar acusaes de greenwashing. 3. The pandemic has issued an enormous problem regarding efficiency and consumer demands. However, the industrys recovery will continue to be uneven, presenting problems for fashion players including supply chain headwinds and various market and macroeconomic risks. This article really stood out to me and was very interesting. Alm disso, espera-se que 50% dos executivos de moda aumentem a presena das suas empresas na Amrica do Norte, no prximo ano. The sixth annual State of Fashion report by BoF and McKinsey forecasts that global fashion sales will surpass their pre-pandemic levels in 2022 after nearly two years of disruption. Despite the initial situation, the report states that the fashion industry is set to recover during 2022. As apparel is a buyer-driven industry, fashion brands and retailers fully understand the importance of catering to consumers needs. For more information read our Terms & Conditions. The task for decision makers, however, will be to focus on specific opportunities. Ao mesmo tempo, o Japo e a Coreia do Sul esto a renovar a sua reputao como motores de crescimento de confiana na regio da sia-Pacfico. A The Business of Fashion (BoF) e a McKinsey & Company lanaram o relatrio "The State of Fashion 2023", no segundo dia do VOICES, encontro anual da BoF para os grandes pensadores da indstria. #5 There is a significant opportunities in creating a hyperdigital supply chain. Some companies are leveraging technology to findcompetitive advantages in a supply-chain context when it comes to speed, agility, cost efficiency, and price. However, fashion companies admit, it will remain challenging to plan inventory flow with much precision, which wont change any time soon. Kasey Panetta, Gartner top strategic technology trends for 2021, Gartner, October 19, 2020. Fragilidade Global: Uma srie de fatores desestabilizadores, incluindo o aumento das tenses geopolticas, continuam a enfraquecer uma economia mundial j frgil, prevendo-se que o PIB global desa para cerca de 2,5% em 2023. Behind the predicted increase is a conviction among many that technology could create a competitive edgein customer-facing activities, where companies have mostly focused to date, and, more increasingly, in operations. enabling, among other things, faster connectivity and data transfer across Internet of Things devices. RCEP has the potential to be at the core of the reconstruction of the global supply chain. With the holiday season quickly approaching this has caused stress for many. The fashion industry relies heavily on global sourcing. Traceability first. Due to the COVID-19 Pandemic, these sourcing trends do not come as a surprise. The sixth report produced by BoF and McKinsey & Company's The State of Fashion 2022 forecasts a year of recovery, challenge, and change; although "uncertainty", as expressed in the 2021 report, still lingers in the minds of the 222 international fashion executives and experts surveyed. Of the fashion customers who made the move to online-shopping channels in 2021, 48 percent said the pandemic was the reason, 27 percent cited convenience, and 11 percent cited product availability and promotions. The pandemic is changing the fashion industry and the last of the pandemic is urging fashion brands to change fast. 11 FASH455 Global Apparel & Textile Trade and Sourcing, Copyright 2012-2023 Dr. Sheng Lu, Associate Professor, Department of Fashion & Apparel Studies, University of Delaware. A indstria da moda registou uma forte recuperao, que emergiu da pandemia. BoFs Imran Amed and McKinseys Achim Berg unpack the report, and talk recovery strategies, as well as what opportunities and challenges businesses should be on the lookout for. Amid the pain from COVID-19: business casualties and . With new challenges occurring in the industry it is a realistic expectation that the fashion industry will have to become more flexible in their strategies. Consumer digital engagement rose sharply during the COVID-19 pandemic, as a result of more hours spent online, new shopping habits, and rising interest in gaming and virtual worlds. Interruptions like manufacturing issues, transportations issues, or distribution issues make changing sourcing bases necessary. This offers a more flexible, scaleable foundation on which brands can potentially build their tech offerings. We'll email you when new articles are published on this topic. 74% dos consumidores de moda dos EUA optaram por marcas ou produtos menos caros, entre abril e julho de 2022. (Photo by Jordan Strauss/ Entertainment COVID is proving to have long term implications in the fashion industry and I dont see anything changing for the next couple of years. A The Business of Fashion (BoF) e a McKinsey & Company lanaram o relatrio The State of Fashion 2023, no segundo dia do VOICES, encontro anual da BoF para os grandes pensadores da indstria. As a result, fashion companies may need to plan for a permanently more expensive logistical future., #2 It will be critical for fashion companies to keep sourcing flexible, build resilience into the supply chain, and work closely with vendors. O aumento da inflao em muitas das grandes economias criou uma crise do custo de vida que est a levar muitos consumidores a reavaliarem, e mesmo a mudarem drasticamente os seus hbitos de consumo. All rights reserved. BoF's annual benchmark of fashion's progress towards crucial sustainability goals in-depth performance assessments of the industry's 30 biggest companies and key insights for the year ahead. . Metaverse reality check. A guerra na Ucrnia, que comeou em fevereiro, afetou a indstria e desencadeou uma crise energtica em toda a Europa. McKinsey Apparel CPO Survey 2021. In the year ahead, companies will unlock new money-making and brand-building opportunities in the digital world, improve sustainability through closed-loop design strategies, which repeatedly recycle textiles so they remain in constant circulation, and emerging technologies like product passports digitised labels which use blockchain and the likes of QR codes to allow consumers access to information about a products materials, manufacturer and other sustainability credentials. (LogOut/ O documento evidencia que a indstria da moda est a caminhar para uma desacelerao global. To prepare for the upcoming webinar: If you don't already have Zoom installed on your device, make sure to install Zoom for desktop devices now. I think it is a good thing and support it. Furthermore, I am interested in the increase in sustainability that could come with more companies participating in nearshoring. With the boom of e-commerce, businesses have to reevaluate how they buy, how they store their inventory, and how they will distribute it. Advancements in AI, analytics, and cloud computing mean that businesses have the tools to work with all types of data across channels in real time. Similarly, ideas of near-shoring are growing in popularity because of the ease of communication, flexibility and transportation. Campos obrigatrios marcados com *. (LogOut/ In December 2021, McKinsey & Co and Business of Fashion (BOF) released its annual State of Fashion report. With them joining RECP this promotes intercontinental trade between Asia and will make obtain products from the US less desirable and well as working will them because they do not receive the the highest benefit. Almost each of these sourcing trends is trying to improve this problem, as consumers demands push for a speedy product delivery. 56% dos executivos de moda esperam que as condies na indstria se agravem no prximo ano. The authors wish to thank Larissa Blau, Pamela Brown, Sandrine Devillard, Jonatan Janmark, Mad Lapuerta, Phoebe Lindsay, Ewa Starzynska, Michael Straub, and Cyrielle Villepelet for their contributions to this report. Model Kaia Gerber and designer Hedi Slimane close the show at the Celine Fall/Winter 2023 Fashion Show on Thursday, Dec. 8, 2022, at The Wiltern in Los Angeles. This #BoFLIVE event was based on the The State of Fashion 2022: Global Gains Mask Recovery Pains report. I found the expected state of fashion in 2022 to be very interesting but was not surprised with the information presented. Click here to read our full analysis. the v&a museum's 'africa fashion' is a belated celebration of africa's contribution to the fashion world Sep 28, 2022 AFI to support inaugural UCT SRC AfriFund Fashion Show Relationships with vendors are important more so now than ever before. Imran Amed, fundador e CEO da The Business of Fashion, refere que a economia est a enfrentar um dos anos mais difceis a inflao crescente, o aumento do custo de vida e a guerra na Ucrnia esto a criar uma conjuntura desafiadora para a indstria da moda. Learning about the expected state of the fashion industry for 2022 was very interesting. The sixth annual State of Fashion report by The Business of Fashion and McKinsey & Company forecasts that the global fashion industry will find its feet again after nearly two years of disruption, though supply chain headwinds will threaten growth prospects. Agenda-setting intelligence, analysis and advice for the global fashion community. 2. Dois teros dos executivos esperam que a digitalizao seja a ferramenta mais importante para permitir que os fornecedores cresam no ano que se avizinha. #3 The interest in nearshoring and reshoring will continue in 2022. BoF and McKinseys annual State of Fashion report forecasts that global fashion sales will surpass their pre-pandemic levels in 2022 after revenues and economic profit fell sharply at the onset of the pandemic. 7. Fashion's largest companies across luxury, high street and sportsw To participate in #BoFLive, BoFs digital events series offering insight, advice and inspiration, visit our calendar where you can find details of upcoming digital events. Many weaknesses surfaced. 2021 The Business of Fashion. I wonder how companies will transform their shipment strategies as the disruption continues and how this will affect the way consumers are able to shop. Over the next three years, potential key areas in which fashion executives could make digital investments are personalization, store technologies, and end-to-end value chain managementareas in which digital can make a real difference to performance. 85% dos executivos da rea preveem que a inflao continuar a ser um desafio no prximo ano e 58% acreditam que a crise energtica continuar a enfraquecer o mercado. A educao e a formao geram entre duas vezes e meia a trs vezes mais retorno do investimento do que o recrutamento, impulsionando a motivao empresarial para investir nas lacunas de competncias da mo-de-obra existente. I am interested to see how these 2022 sourcing trends will affect us as consumers. RCEP is possibly the only trading block with both production capacity and consumer demand, meaning it could dramatically facilitate regional trade and investment within Asia. Technologies such as robotics, advanced analytics, and in-store applications may help streamline processes and support sustainability, as well as create an exceptional customer experience (exhibit). Como nos relatrios anteriores, os 10 temas-chave descritos na edio mais recente ajudaro a indstria a moldar as estratgias para 2023., Ana Paula Guimares, scia na McKinsey & Company, afirma que a indstria de moda estava a recuperar da COVID-19, com a receita global a crescer 21% em 2021, e a margem EBITA mdia a subir 6 pontos percentuais, no entanto, a deteriorao das condies macroeconmicas e geopolticas est a ter um forte impacto na indstria no segundo semestre de 2022. but many brands currently have visibility over only direct supplier relationships. Exhibit 1. Never miss an insight. By 2030, that figure is expected to rise to between 3.0 and 3.5 percent. 2021 The Business of Fashion. By experimenting with NFTs, gaming and virtual fashion, brands will unlock value streams in the metaverse that engage young consumers and will find new routes to creativity, communities and commerce. Realidades Regionais: O mapa mundial de oportunidades de crescimento para marcas de moda mudou, com regies como o Mdio Oriente e pases como os EUA a emergir como prioridades para o ano que se avizinha. Like stated in this blog article we can see supply chain disruption continuing in the near future which will create shipping delays going forward. Because of the uncertainty, companies are looking are near and restoring they items to have a cheaper and faster production rate. McKinsey analysis shows that fashion companies that now embed AI into their businesses models could see a 118 percent cumulative increase in cash flow by 2030. A combinao da guerra na Ucrnia com a crescente inflao e as presses na cadeia de abastecimento est a criar um cenrio sombrio para o ano que se avizinha, no que diz respeito indstria da moda. The State. From demand forecasting to transport operations, a critical element in expanding the role of technology could be to apply digital tools to make end-to-end improvements in the value chain. This #BoFLIVE event was based on the The State of Fashion 2022: Global Gains Mask Recovery Pains report. Combater o greenwashing: O roadmap estratgico da Comisso Europeia para tornar os txteis mais durveis e reciclveis at 2030 est a focar-se no greenwashing, enquanto as associaes para a defesa do consumidor na Europa esto a acompanhar de perto as estratgias de sustentabilidade das marcas de moda. These are some of the findings from The State of Fashion 2022, written in partnership with the Business of Fashion (BoF). For additional info aboutbof 3 know-how - The State of Fashion 2022: Global Gains Mask Recovery Pains | The Business of Fashion. Contudo, uma srie de desafios sem precedentes esto a pr em causa esta tendncia e a travar o crescimento medida que o ano avana. EXECUTIVE SUMMARY 1011. To participate in #BoFLive, BoFs digital events series offering insight, advice and inspiration, visit our calendar where you can find details of upcoming digital events. In the sixth annual State of Fashion report they mention circular textiles as one of the key elements in the fashion industry for 2022. Global spending on virtual goods reached more than $100 billion in 2021, more than doubling the total in 2015, Metade dos executivos de moda esperam expandir a presena das suas empresas na Amrica do Norte em 2023. Click here to read our full analysis. The operational potential of technology is becoming ever more apparent. 79% dos executivos de vesturio e calado dos EUA classificam os meios de comunicao do retalho como o canal de marketing mais eficaz. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. Fashion Open Studio is the showcasing initiative of Fashion Revolution, the world's largest fashion . As noted, RCEP consists of 30% of the global population.This large support at its implementation just a few short weeks ago proves that RCEP has the ability to become a global trading powerhouse. 3. As Textile Journey, we are very happy to present to you today the "State of Fashion 2022: "An uneven recovery and new frontiers", a joint work of McKinsey and the BoF Business of Fashion fashion team. In December 2021, McKinsey & Co' and Business of Fashion (BOF) released its annual State of Fashion report. Connected stores. Um tero dos executivos de moda citam os desafios aos canais de venda direta ao consumidor como um dos principais temas que ter impacto nos seus negcios no prximo ano. Below are the key points in the report regarding the sourcing trends in the year ahead: #1 The logistics challenges could intensify in 2022, with 87% of respondents expecting supply chain disruptions to continue to affect their profit margins in the year ahead negatively. Sourcing trends in 2022 seem to be extensions of those in late 2020 and throughout 2021. But, it will require agility to deal with that.. Well I think its interesting to talk about the trend of reshoring and nearshoring continuing in the next year. Personally, I think companies and brands who reshore are going to have a lot more of a competitive advantage than those who dont. Shipping Crisis and Supply Chain Disruptions: Impacts on Apparel Sourcing and Trade (updated December2021), Video Discussion: How Amazon Beat Supply Chain Chaos With Ships, Containers andPlanes, Global Apparel Sourcing Practices and Trends, Textile and Apparel Industry Around the World, Global Apparel Sourcing Practices andTrends, Textile and Apparel Industry Around theWorld, Timeline of Trade Policy in the Biden Administration (2021present), Timeline of Trade Policy in the Trump Administration(2017-2021), Minimum Wage Level for Garment Workers in the World (Updated in December 2020), US Apparel Imports Face Growing Market Uncertainties (Updated: June 2022), Statistics: Global Apparel Market 2021-2026, Video discussion: How Fashion Companies Design Products To Avoid Tariffs, WTO Reports World Textiles and Apparel Trade in 2020, State of U.S. However, the supply chain disruptions caused by COVID-19 remind fashion companies that building a close and partner-based relationship with capable suppliers also matters. Embora o relatrio preveja um abrandamento global para a indstria, existem algumas oportunidades. There are two things I found particularly interesting. There are countries of all economic and technological development in this agreement which will be good as every stage of development has something to offer to another stage of development. The report, the sixth in our series, discusses the major themes shaping the fashion economy and assesses a range of possible responses. Over 70% of respondents plan to increase the share of nearshoring close to company headquarters, and about 25% intend to reshore sourcing to their headquarters country. Lowered barriers and reduced tariffs is also good for fashion companies and customers. 10 The pandemic also boosted digital brand relationships, with 72 percent of customers reporting they interacted with brands online in 2021. Widening income inequality and other demographic pressures in 2022 could exacerbate the already uneven global economic recovery from the pandemic. End-to-end upgrade. (LogOut/ of Fashion 2022 The State of Fashion 2022 CONTENTS. Change), You are commenting using your Twitter account. 6. The long term affects of the global Covid-19 pandemic are already showing, and they are frightening. Its the largest free trade agreement in history, involving nearly 30% of the worlds population. In the long term, it is worth it to move the souring base. It seems to me that nearshoring is a win-win in terms of more sustainability and cheaper costs. I feel like this is the year that will really test businesses worldwide and their ability to adapt and change their previous business model. O cenrio econmico incerto significa que as empresas de moda vo reavaliar as geografias onde operam, preterindo certos pases ou regies por outros que oferecem um maior potencial. 7. O Retorno do DTC (venda direta ao consumidor): Os custos de marketing digital esto a aumentar medida que as taxas de crescimento do comrcio eletrnico normalizam aps o pico atingido na pandemia, o que torna desafiante a construo de um negcio de DTC online sustentvel e rentvel. 15 signatories including most developed and biggest apparel manufacturers come together to create a trade agreement that works dynamically to increase Asias global market. Look at the second sourcing trend, companies will have to be flexible. 15/03/22. SHARE. default-output-block.skip-main. In 2021, people spent on average just below four hours on their mobile phones, which includes about two and a half hours of scrolling though social media. O seu endereo de email no ser publicado. If you would like information about this content we will be happy to work with you. Marketing Digital Reforado: Os regulamentos de privacidade e as mudanas tecnolgicas fizeram subir o custo do marketing digital pago, levando as marcas a gastar pelo menos trs vezes mais para adquirir um cliente em 2022, face a 2013. We see brands increasing their focus on traceability through their supply chains, helping them address demands from regulators, investors, and customers for greater transparency. with around 30 percent of revenues attributed to virtual fashion assets. 1 I find these sourcing strategies not surprising at all based on the post pandemic market and the countries affect the virus is having on the world. Por exemplo, em Frana, a nova legislao prevista para 2023 ir exigir que as marcas coloquem etiquetas no vesturio e nos txteis com a pontuao ambiental de cada artigo, a fim de ajudar os consumidores a tomarem decises de compra mais informadas. The marketing value of digital fashion and nonfungible tokens (NFTs) may now be clear, but fashion brands will need to separate the concrete opportunities from the hype to generate sustainable revenue streams presented by growing consumer engagement with the metaverse. However, the industrys recovery will continue to be uneven, presenting problems for fashion players including supply chain headwinds and various market and macroeconomic risks. These questions are the focus of one chapter from The State of Fashion 2022, the latest industry report from McKinsey, in partnership with the Business of Fashion (BoF). It is obvious that the COVID-19 pandemic has disrupted supply chains and thrown the fashion industry for a total loop. In addition to this, diversifying sourcing is still a crucial goal for fashion companies, since COVID showed that you cannot put all of your eggs in one basket and be confident that your supply chain is stable. 7 2 More than 60 percent of fashion executives believe creating integrated digital processes throughout their organizations will be among their top five areas for digitization as they look to 2025. 1. ECONOMY GLOBAL INDUSTRY OUTLOOK 1217. 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