State of the fashion industry

The state of the fashion industry is always in constant flux, but especially so now. With supply chain issues, entire market segments in stagnation (when was the last time you wore a ball gown?) and fast-changing sales channels, it’s especially important to be aware of current issues and challenges. These three reports deep dive into the current state of the fashion industry and examine challenges and opportunities.

The Australian Fashion Council commissioned Ernst and Young’s landmark report into the state of the Australian fashion industry. The report finds Australia’s fashion and textile industry contributes more than $27.2 billion to the economy and employs more than 489,000 people, 77% of whom are women. Insights from key Australian fashion executives are useful for all Australian fashion businesses.

This McKinsey report focuses on the global fashion industry. It’s a long report at 144 pages, but worth making the time to scan the whole thing if you’re after a holistic analysis into where the industry is headed and the pain points – and solutions – that you might want to consider. There are relevant insights for small and large fashion brands.

Supply-chain disruptions have made fast, flexible sourcing a top priority for fashion companies. McKinsey’s survey of global sourcing executives reveals ambitious targets with much work still to do.