World Market for Apparel and Footwear

Delivery

This report comes in PPT.

Key findings

Economic headwinds persist, with uneven growth trajectories

The ongoing economic and political instability have further disrupted the world’s economy since 2022, and the industry is poised for only slow global growth, as inflationary pressures persist. There are, however, pockets of growth, with India set to be a key growth engine for the industry in the next five years.

Value Hackers, or how consumers seek to get the very the best value they can

With the continuing cost-of-living crisis, consumers are adjusting their financial mindsets and employing clever strategies to get the very best value they can, driving demand for dupes and fast fashion from Temu, Shein and PEPCO, for example. However, as regulators increasingly look at limiting volume-driven business models, adding value through services like repairs, rental and resales might be worth considering for longer term growth strategies.

Greenwashed out or how companies and brands are challenged on transparency

Sustainable regulation is becoming tougher in various parts of the world, and with the textile and fashion industry facing escalating accusations of “greenwashing”, companies and brands are challenged to be transparent, and need to demonstrate the results of their sustainability efforts, driving the adoption of blockchain, AI and SAAS technology.

Ask AI, or the redefinition of the shopping experience and hyper-personalisation

AI-driven solutions will become increasingly integrated not only into supply chains but also into consumers’ daily lives, and have the potential to reshape the fashion industry, from design to production and selling. In the short term, AI is increasingly redefining the shopping experience towards hyper-personalisation.

Wellness pragmatists or the amplification of the women’s empowerment and self-care narrative

Consumers turn to brands that reinforce their self-image in a positive manner. The emotional wellness, women’s empowerment and self-care narrative is being further amplified in the lead-up to the Paris 2024 Olympics, creating opportunities for brands that can leverage the right emotive marketing messages.