APPAREL | Fashion Updates

Leading themes influencing fashion retail in 2023

Published: April 24, 2023
Author: Fashion Value Chain

-By Mansi Suryawanshi

New trends are being driven by consumer desire for digital, sustainability, and engaging experiences, which is opening up new growth prospects for the fashion Industries.

  • Executives in the fashion sector are preparing for a challenging year as the global economic recession threatens to undo the industry’s quick post-pandemic recovery. In 2023, 84% of industry leaders anticipates that market circumstances will either become worse or stay the same, according to McKinsey’s “The State of Fashion” a report. 
  • It can be difficult for enterprise brands, which serve customers at a scale across various channels, to react to market shifts on time. However, as the turmoil of recent years has demonstrated, even in the most trying of circumstances, individuals who seize the proper opportunities and anticipate and plan ahead for future fashion trends may succeed. 

According to McKinsey, the largest prospects for fashion in 2023 are sustainability (16%), agility (13%) and brand differentiation (12%), which mirror the preferences and values of these young consumers.

Fashion has long placed a high priority on sustainability and adaptability. Customers, however, don’t merely want firms to wait and observe what fashion trends are before acting. Brand differentiation is a reflection of businesses’ rising ambition to go above and beyond what is generally expected of them and come up with innovative, creative, and—more and more—digital ways to stand out in the cutthroat fashion industry.

Future fashion trends:-

Fit technology:- 

Mobile body scanning technology is transforming industries and organizations of all sizes. Made-to-measure companies are expanding their reach and offering secure, and comfortable in-store measuring process thanks to innovations like Mobile Tailor, which enables businesses to acquire body measurements contactlessly and remotely using just two photographs of the consumer.

Likewise, programs like Your Fit are bringing the fitting room to the internet by offering personalized size suggestions together with photorealistic try-on experience that is supported by a highly precise body measuring technology. 

SUPPLY CHAIN INNOVATION:- 

While companies see agility as one of the largest customer-drawing prospects in 2023, supply chain disruptions like postal strikes and shortages of raw materials are a challenge.

The manufacturing industries are looking into new, digitally enabled supply chain models to give the agility enterprise fashion retail organizations and their customers want. Near shoring is the practice of manufacturing moving operations to locations closer to the brands and companies they serve in order to cut down on logistical costs, delays, and waits, according to McKinsey. Similarly, 61% are looking into the prospect of establishing strategic alliances with suppliers.

Adopting digital transformation in fashion retail is key to the future of fashion being sustainable, inclusive, and personalised:- 

The future of fashion retail will be shaped by these trends, so why not start making changes now to make it more sustainable, individualized, and inclusive?

Take on fashion’s inefficiencies and do your part to build a better future – Speak with a 3DLOOK specialist to develop a solution that supports the aims and objectives of your business.

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