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Go beyond green. As the fashion industry continues to talk about sustainability, consumers are interested in purchasing sustainable products, and with 67% of fashion and jewelry buyers saying they would rather pay more for an eco-friendly product, their reasons to purchase vary from a wide range of eco-friendly conscious choices.
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Source: Fashion E-commerce Global Market Report 2022, Research and Markets, May 2022. Statista estimates that the online clothing and apparel industry will reach a value of 1.2 trillion U.S. dollars by 2025, Research and Markets expects the e-commerce fashion industry will grow to $1.1 trillion dollars in 2026.
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BoF: The Opportunity in Digital Fashion and Avatars, a BoF Insights report, charted the surge in popularity of non-fungible tokens (NFTs) in 2021. Indeed, sales reached approximately $10.7 billion in Q3 2021, more than eight times the volume of the previous quarter. While the token standard for NFTs emerged in 2018, they only gained speed.
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In 2020, the U.S. slipper market grew by approximately 50%, revealing that consumers are continuing to prioritize comfort over fashion (NPD). The global footwear market size reached $365.5 billion in 2020 and is projected to grow to $530.3 billion by 2027 with a 2020-2027 CAGR of 5.5 percent (Allied Market Research).
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For example, as the gorpcore trend cools in 2024, brands like Salomon and Arc'teryx may shift their outwear offerings from flashy jackets to more minimalist, "quiet outdoor" styles, according to BoF and McKinsey's State of Fashion report. Still, expect to see some pushback in 2024: "loud luxury," best characterised by more opulent.
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Fast fashion market value forecast worldwide from 2021 to 2027 (in billion U.S. dollars) Premium Statistic Value of the secondhand apparel market worldwide from 2021 to 2027
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According to McKinsey's analysis of fashion forecasts, the global industry will post top-line growth of 2 to 4 percent in 2024 (exhibit), with regional and country-level variations. Once again, the luxury segment is expected to generate the biggest share of economic profit. However, even there, companies will be challenged by the tough.
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Fashion industry challenges and global disruptions | McKinsey. Article (8 pages) In this episode of The McKinsey Podcast, McKinsey senior partner Achim Berg talks with executive editor Roberta Fusaro about findings from McKinsey's The State of Fashion 2022 report. They cover the concurrent effects of the many challenges facing both suppliers.
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Published by Concordia University, Nebraska 2 years ago on Tue, Jun 29, 2021 11:28 AM. Fashion marketing is a branch of marketing that deals with the advertising of clothing and accessories to a specific target market. This type of marketing includes ads in newspapers, magazines and social media platforms, along with commercials on television.
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A bourse is simply a stock exchange or a marketplace. It facilitates the buying and selling of securities. These securities include things like stocks, bonds, commodities, currencies, and options.
