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Tagged by: Tech

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McKinsey Predicts Challenging Road Ahead for Small and Mid-sized Fashion Players as Digitization and Sustainability Top the List of Challenges for 2020

The State of Fashion 2020 report published this week by McKinsey & Co in partnership with Business of Fashion, predicts fashion industry growth of just 3-4% in 2020 amid slowing global economic growth and continued uncertainty.

In light of this rather gloomy outlook, the report suggests that “successful companies will be the ones that ….. work out how to improve productivity while ensuring operational and financial flexibility”.

Its survey of 290 global fashion executives highlighted sustainability and digitization as key challenges that also represent sizeable opportunities.  So where does this leave small and mid-sized companies for whom investment in comprehensive digital solutions and larger-scale R&D activities is not an option?


There's a New Four-Letter Word to Describe the Apparel Industry Middleman of the Future: Tech

According to an article published by the Sourcing Journal last month, “For a while, as companies looked to skip the middleman in favor of greater speed to market and closer access to the consumer, “agent” became a four-letter word.”

In this hyperconnected, always-on world, customers want more: more flexibility, more choice, more speed, more insights, more service, more visibility and more control. They also want less: less hassle, less waste, less commitment and, of course, less cost.

What customers really want is more FOR less.

Enter TECH.....