People Integrated archives:

Fashion

This series of People Integrated archives consists of reading material about Fashion. The articles take on different perspectives on the marked, trends and the future of fashion, i.e. sustainability and luxury. This is a dynamic page that will be updated regularly. 

Enjoy! 


Luxury fashion

Middle-market consumers are trading up to higher levels of quality and taste. This has especially facilitated three major types of new-luxury goods: Accessible Superpremium, Old-luxury Brand Extensions and Masstige. 

https://hbr.org/2003/04/luxury-for-the-masses  

The luxury customer is present and increasingly active, dramatically rewriting the rule book of the industry, which results in a need for change. 

https://www.bain.com/insights/eight-themes-that-are-rewriting-the-future-of-luxury-goods/  

In an age of fast changing trends, luxury companies havestarted to keep an eye on a new consumer class that is rising nowadays and is going to become increasingly relevant in thefuture: the HENRYs (High-Earners-Not–Rich-Yet).

https://www2.deloitte.com/content/dam/Deloitte/ar/Documents/Consumer_and_Industrial_Products/Global-Powers-of-Luxury-Goods-abril-2019.pdf  


Fashion and digitalisation

Some apparel, fashion and luxury companies won’t survive the current crisis - others will emerge better positioned for the future, depending on their actions and digital performance. McKinsey’s consumer-sentiment surveys show that some percentage of offline sales could permanently migrate to e-commerce, but digital is not only an increasingly important sales channel - it can also help companies make each step of the value chain better, faster, and cheaper.

https://www.mckinsey.com/industries/retail/our-insights/fashions-digital-transformation-now-or-never

The “right” digital strategy differs for every luxury brand, but the essential elements are the same: a strong mobile presence, a selective approach to social media, and a tight focus on carefully chosen metrics.

https://www.mckinsey.com/industries/retail/our-insights/luxury-shopping-in-the-digital-age

From fashion shows without audiences to global travellers becoming local shoppers, this year has changed the luxury-goods industry and consumers. Digitalisation should be at the center of your operating model, as e-commerce is a crucial channel for keeping sales up, communicating and forging a sense of community with a brand. Luxury consumers are accustomed to a high standard of service in stores: is it possible to reinvent yourself to create a personalised digital experience of the same quality?

https://www.mckinsey.com/industries/retail/our-insights/a-perspective-for-the-luxury-goods-industry-during-and-after-coronavirus

 


Fashion and sustainability

A Fashion Week will never be more sustainable than the participating brands. Copenhagen Fashion Week has made it part of their 2023-strategy to define a series of minimum requirements the participating brands must meet. The brand must answer an online survey consisting of more than 80 questions concerning different parts of the brand and strategy - for example, it is not enough to have a sustainable show if your production or production environment is not.

https://fashionforum.dk/2020/11/18/saadan-opfylder-du-copenhagen-fashion-weeks-baeredygtighedskrav-i-2023/


Fashion and strategy

Big cities have long been the world’s economic dynamos, but the speed and scale of their expansion are unprecedented. For the first time in history, more than half of the world’s population is now living in towns and cities. One way to strategically use this information is to implement a cluster strategy, which is what the Danish lifestyle brand, Rains, has done. We set out to learn more about their reflections and strategy in a dialogue with Jan Stig Andersen, CEO of Rains since 2017. 

https://people-integrated.com/big-city-retail-trends-people-integrated-x-rains/