FEB 2023
The State of the APPAREL & FASHION INDUSTRY 2023
Managing Editor: John Mathews
Senior Writer: Stephanie Kreml
Writers: Mary Alison, Allison Gillchrist,
Kim Langdon Cull, Connie Yerbic, Elena Borrelli
Magazine Designer : Michelle Wong
Digital Publishing Director: John Louis
Advertising: David Miller
For Reprints & Advertising Contact
FIRST FACTOR, Inc
347 5th Avenue #1402-287
New York City, New York 10016
Tel: (347) 970-8855
Copyright © 2023
All rights reserved. No part of this publication may be reproduced in any form or by any means, electronic, photocopying or otherwise, without prior permission of the publisher and copyright owner. While every effort has been made to ensure the accuracy of this publication, the publisher accepts no responsibility for errors or omissions. The products and services advertised are those of individual authors and are not necessarily endorsed by or connected with the publisher. The opinions expressed in the articles within this publication are those of individual authors and not necessarily those of the publisher.
Amid rising inflation, economic headwinds and supply chain pressures, leaders in the apparel and fashion industry are bracing for a tough 2023. Concerns are heightened about lower apparel spend this year resulting in stockpiling in warehouses. Apparel and fashion brands are rethinking their operations, tweaking organizational structures, sharpening their supply chain strategies, reevaluating their order strategies with suppliers, managing inventory efficiently, reasessing distribution channels, exploring nearshore sourcing and innovating their marketing strategies to better respond to fast-shifting consumer demand.
To achieve this, companies across the board are leaning heavily on data analytics and new technology developments. Leaders understand that taking realistic, bold steps now will not only bode well to effectively navigate industry challenges in 2023 but certainly prepare them for 2024. Players who lay a strong foundation now, will be better positioned to seize the opportunities that will unfold at the end of the year or early next year.
In this edition of State of the Apparel & Fashion Industry 2023, experts throw light on how artificial intelligence, web3, metaverse, 3D technology and solutions like virtual try-on, size and fit recommendation apps will shape fashion in the year ahead. Learn about the rise of eco-conscious consumers and how sustainability continues to be a key theme. Gain insights into how leading brands are leveraging new channels to engage with customers.
Happy reading!
John Mathews
Preparing for a Promising 2024