![]() Consumers are aware that sustainability does not stand or fall with the material of the product, but also includes fair wages, decent working conditions and climate change. This principle still applies to the majority of customers and concerns both the price of the clothing and the transactional costs associated with the purchase, for example postage for returns. The targeted use of customer data is of strategic importance and can favourably influence marketing activities, purchasing, pricing strategy and many other areas.įrom a consumer perspective, price beats sustainability. This not only directly benefits the company in question, but also helps to counteract the loss of footfall and the desolation of city centres. Companies should create and maintain a clever link between online channels, digital assistants and bricks-and-mortar business with personalised service. No digital toolbox can replace interpersonal interaction and personal advice in the shop. However, this poses major challenges for retailers in terms of corporate culture and structure, internal processes, staff deployment, data analysis and costs. Omnichannel concepts pay off in convenience, time savings and accessibility – service elements which go beyond price. Female and young consumers in particular demand such options, which are definitely part of their lifestyle. The aim is to offer them a unique customer experience.Ĭustomers increasingly expect omnichannel offerings. The customer is now the central focus of retailer's activities. Fashion consumables will be a thing of the past. We shall also have a largely functioning circular economy that shifts the majority of raw material procurement to the sales markets. The report predicts the fashion market will be substantially more regulated than it is today by 2030. The options are numerous: circular economy and supply chain law, re-commerce, all-dominating online platforms? Or co-operative behavioural patterns between consumers, manufacturers and retailers, flourishing and transformed city centres that thanks to new concepts provide a space for social gathering and well being for consumers? This is an endeavour in which we deliberately push aside the overly dominant present and venture a glimpse of what the fashion market will look like in 2030. In the midst of the coronavirus-stricken winter of 2020/2021, we ask ourselves what developments there will be in the fashion market over the next ten years. It requires keen observation of the market, an idea of what is coming, and the courage to put things into effect.Ī lot has happened in the industry since we last took an in-depth look at the fashion market, half a decade ago, and the upheaval continues. Transforming overarching trends into competitive business models and service offerings is no small task. ![]()
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