| After a few turbulent years, the apparel industry is settling into a new normal that looks nothing like it did before. Rather than sporadic seismic events, disruption has become expected. A recession looms, the pandemic continues to upend everything from production to transportation, geopolitical unrest creates uncertainty and a tight labor market complicates finding and keeping talent. And to top it off, consumers are savvier and more demanding than ever—whether it comes to authenticity, ESG or delivery times—and brands must meet these expectations or risk losing their business.
The second annual Sourcing Journal + AlixPartners Fashion in Focus Survey Report: New Norms and Paradigm Shifts explores how equipped and prepared companies are to weather challenges and changes. Based on an in-depth survey of industry executives and interviews, this exclusive report focuses on four paradigm shifts: Digital First, Focused Product Assortment, Productivity Mindset and Sustainability and Social Stewardship/ESG, and serves as a progress report and guide for companies as they move forward. How digitally savvy are their operations? What is influencing and informing their planning? Have they developed deeper relationships with their suppliers? And what progress are they making toward their green goals?
In addition to insights from industry executives at Gildan, Gelmart, Dagne Dover, Under Armour and more, the report also features detailed success story case studies on Fabletics, American Eagle Outfitters, Pangaia, Selfridges and Shein. The report also includes prescriptive practice management checklists to check how your own company is performing.
This report shows that while there has been some headway, there is still room to grow in creating resilient businesses that are ready to face whatever comes in 2023 and beyond.
Read the report to discover: - What tactics and technologies brands are using to engage the digital generation
- Which digital initiatives are being prioritized—and which aren’t top action areas
- How retailers’ inventory levels and assortment mixes are evolving—and the forces behind these changes
- Just how many companies are still using Excel for planning
- Why sourcing relationships need to rethink value
- How much visibility the industry has into supplier metrics
- What percent of execs are worried about a recession, and what companies are doing to fortify against disruption
- How sustainability is factoring into assortment strategies, product development and more
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