Daily Newsletter

30 November 2023

Daily Newsletter

30 November 2023

Fashion execs eye supply chain resilience to navigate 2024 uncertainty

Supply chain resiliency will be a key area of focus for fashion industry executives in 2024, with transparency and communication across all supply chain stakeholders paramount in future-proofing businesses, the latest McKinsey & Co State of Fashion 2024 report reveals.

Hannah Abdulla November 30 2023

AI and sustainability will be top of mind for fashion executives in 2024. Credit: Shutterstock.

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Personalization has grown alongside online retail

Personalization has increased as technologies have advanced, with a retailer’s ability to collect, analyze, and utilize consumer data being aided by the effective use of analytics tools. Consumers are also increasingly individualistic, especially Gen Z, and want products that are specifically targeted to their needs and goals. These consumers are often willing to pay a premium for such items. Although the opportunities for product personalization in apparel are rife, personalized products are generally not offered by mainstream retailers due to the higher costs involved.

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