November 25, 2024♥ 18 · 💬 2

Dear #retailers

Report excerpt saying a long-feared cyclical slowdown has arrived in the fashion industry, with price-sensitive consumers.

Excerpt noting the Silver Generation of over-50 customers is a growing share of population and fashion spending.

Excerpt saying about 70 percent of retail sales are digitally influenced and 54 percent of apparel shoppers prefer stores.

Excerpt saying brands plan localised pricing, fulfilment and assortment to reach growth markets such as India.

Key insights slide: generative AI for product discovery, shoppers wanting AI research help, GPT-4o accuracy gains.

The State of Fashion 2025 by The Business of Fashion and McKinsey & Company is here.

Here are some of the key points I recorded.

Hard days but there are ways to keep growing if you buckle up and can differentiate.

All the best!

Retail Business & Marketing AI #retailers

Read the original on LinkedIn ↗