There's no doubt that 2017 has been a wild year for fashion, full of ups and downs. From the deaths of legends like and Si Newhouse and Azzedine Alaia and legendary brands like Teen Vogue and Colette, the departing of creative directors like Christopher Bailey from Burberry and Phoebe Philo from Celine, the abolishment of real fur from luxury jugganauts like Gucci and Michael Kors, the first male editor-in-chief of British Vogue, and the earth-shattering #MeToo movement across the whole media universe. But what's next for the ever-changing fashion industry in 2018? Let's explore...
Here are some key points from The State Of Fashion 2018 report by Business of Fashion:
- Growth shift from West to South and East: For the first time, more than half of apparel and footwear sales will originate outside of Europe and North America, in emerging market countries across not only Asia-Pacific but also Latin America and the Middle East.
- Customers will be more demanding than ever of retailers, expecting zero friction service, convenience, quality, values orientation, newness and price.
- Geopolitical turmoil, economic uncertainty and unpredictability are the new normal. Despite the rise of nationalism, isolationist rhetoric and reshoring, globalisation will not stall but explode in growth.
- Personalisation and curation will become more important to the customer.
- The question for fashion brands is no longer “if” but “how” to collaborate with big online platforms.
- Leading innovators will reveal the possibilities of artificial intelligence across all parts of the fashion value chain.
- Sustainability will evolve to be an integral part of the planning system where circular economy principles are embedded throughout the value chain.
- Due to an urgent and intense need for innovation across the industry,
a growing number of fashion companies will aim to emulate
the qualities of startups.
Want to find out more? Watch the video roundup below: