With the emergence of fast fashion and the entry of more and more local as well as international fashion brands into the market, competition is becoming increasingly fierce.
Preferences
Consumer preferences are changing rapidly, driven by fast fashion and social media. Fashion brands are thus forced to constantly adapt to new trends and styles.
Online & Offline
With the growth of e-commerce, fashion brands need to find the right balance between online and offline presence to reach consumers where they shop. And that has massive implications for their business models and supply chains.
Supply Chain
Most fashion brands rely on complex and global supply chains that can lead to issues such as long lead times, production delays, and ethical concerns. Concerns that have also resonated with consumers.
Sustainability
More than a generational thing, consumers are becoming more environmentally and socially conscious. Pressure is being put on fashion brands by consumers and policymakers to adopt sustainable practices.
Innovation
Fashion brands need to keep up with digital technologies and digital innovations, such as AI and VR, to improve their customer experience and remain competitive.
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