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Daily Newsletter

20 November 2023

Daily Newsletter

20 November 2023

Wider fallout of Israel-Gaza conflict concerns fashion supply chain

There could be a ripple effect through the fashion supply chain if the Israel-Gaza conflict escalates warns Sewn Products Equipment & Suppliers of the Americas (SPESA)'s immediate past chairman Ed Gribbin.

Laura Husband November 20 2023

“Barring another geopolitical disaster – and that’s a catch-all for all bad things that could happen so US tensions with China, Russia with Ukraine, Middle East, trade deals that may or may not get renewed – I suspect a good year in 2024-2025,” says SPESA’s immediate past chairman Ed Gribbin. Credit: Shutterstock.

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Traditional AI is here to stay in the retail and apparel space

The global healthy snacks market will be valued at $74.6 billion in 2023 and is expected to grow at a CAGR of 6% by 2030, per GlobalData. Increasing awareness of health and wellness among consumers is the major contributor to the growing demand while a rise in vegan and plant-based diets and rising disposable income, and middle-class expansion are also expected to drive market growth. However, this growth is affected by the challenges posed by high cost of ingredients.

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