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Comment

Couture, fashion and leather goods

Luxury, Gen AI and travel will lead uncertain fashion industry in 2024: report

November 29, 2023

Fashion industry executives are divided about what to expect next year, with 26 percent expecting conditions to improve, 37 percent saying things will remain the same and 38 percent predicting conditions will get worse. Image: The Business of Fashion, McKinsey & Company Fashion industry executives are divided about what to expect next year, with 26 percent expecting conditions to improve, 37 percent saying things will remain the same and 38 percent predicting conditions will get worse. Image: The Business of Fashion, McKinsey & Company

 

By Luxury Marketer Intelligence

A mix of geopolitical, economic and climate challenges mean the global economic outlook will remain unsettled in 2024, directly impacting consumer confidence and spending in major fashion markets.

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MOST READ
  1. Future of luxury goods is AI-powered transformation: report
  2. Future of refrigeration in the luxury home – and what consumers are telling brands
  3. Luxury fashion sector needs to reinvent amidst widespread global slowdown
  4. New episode of Luxury Stance Podcast: What the ultra-wealthy – 0.01 percent – want out of luxury hospitality
  5. Is luxury losing its luster as US affluent consumers’ priorities shift?
  6. 1 week left – Countdown begins for Luxury Outlook Summit New York
  7. Luxury Roundtable launches Luxury Marketer, a global intelligence, analysis and news source for luxury professionals across sectors 
  8. How will generative AI affect future jobs and workflows? McKinsey knows
  9. Webinar Oct. 9: Why AI is key to luxury's future
  10. Access no longer the new scarcity for global wealthy: report


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