The fashion apparel industry has significantly evolved, particularly over the last 20 years. The changing dynamics of the fashion industry have forced retailers to desire low cost and flexibility in design, quality, and speed to market, key strategies to maintain a profitable position in an increasingly demanding market. The health crisis caused by Covid 19 has intensified the shift of luxury consumption more swiftly.
Facing the challenging expectations of today’s consumers and the challenge to stand out from the rest. According to Forbes, the future of fashion is happening online, based on forecasting data, following another rhythm with growing potential for sustainable brands. Ultimately, in today’s digital era, almost all brands benefit from a strong digital presence. Retailers are an important part of solving fashion’s sustainability challenge. Millennials and Gen Z are not only the most affluent luxury brand consumers and are now defining the global trends and the sales growth. What does this mean for brands and retailers?