Boston Consulting Group news and archive

Agile supply chains: Shein, BCG and GoodOps discuss challenges and opportunities

As the fashion industry continues to grapple with the far-reaching impacts of the pandemic and new global challenges, it has become clear that the ability to swiftly respond to changes in the supply chain is a defining factor for companies to achieve success. Industry stakeholders from ultra-fast fashion player Shein, sustainability strategy and...

BusinessFeatured

Retailers not on track to meet sustainability targets

A new report states that the retail industry must “work harder and faster” to make a meaningful impact to deliver on climate change commitments. Research from Boston Consulting Group (BCG) in partnership with the World Retail Congress, found that less than 20 percent of major retailers are on track to hit the Paris Agreement climate targets. The...

Retail

Sustainably-minded shoppers driving resale market growth

As consumers increasingly seek sustainable products, new research reveals that 69 percent of shoppers are now willing to purchase more secondhand pieces in the future and that consumers’ wardrobes will increasingly comprise secondhand clothing, from 21 percent in 2020 to 27 percent in 2023. That’s according to Vestiaire Collective and the Boston...

Fashion Featured

Sustainability progress “has slowed” reveals new data

According to new data from the Global Fashion Agenda (GFA), Boston Consulting Group (BCG) and Sustainable Apparel Coalition (SAC), the pace of sustainability progress in the fashion industry has “slowed” by a third in the past year and is not moving “fast enough to counterbalance the harmful impact of the fashion industry's rapid growth”. The...

RetailFeatured

Fashion brands must improve digital marketing as online shopping grows

Consumers are growing more and more accustomed to buying clothes online, so much so that the share of e-commerce sales is set to grow from 20 percent today to 25 percent by 2020, according to a joint study by international marketplace Zalando and consultancy firm Boston Consulting Group (BCG). In this scenario, it is crucial for fashion brands...

RetailFeatured

Half of global luxury shoppers buy at discount

Half of global luxury shoppers are partial to a bargain. According to the YouGov Affluent Perspective’s Global Luxury Retail Report 2018, half of all global luxury shoppers state they “only buy luxury when it is discounted.” The report, which focuses on the 56 percent of global affluents shoppers who purchase luxury products and services across...

Retail

Online impulse buys and high rates of offline shopping

The Boston Consulting Group has revealed in a new study that almost half of India’s urban population are now shopping online, making India’s e-commerce CAGR the highest in Asia. The five year compound annual growth rate (CAGR) for the Indian e-commerce market predicted for 2016 to 2021 is far higher than other Asian countries, as predicted by...

Business|STUDY Featured

Luxury brands must become digital or risk ‘dying out’

London - Luxury brands which fail to evolve their digital front risk getting left behind as digital is the "inevitable, inescapable business shift of the future." Although some companies, such as LVMH, are beginning to invest in the digital domain, being digital means so much more than just ecommerce, and luxury labels who refuse to do so will...

BusinessFeatured

Despite challenges, India’s organised retail on growth path

Organised retail segment in India has been gradually growing with most statistics indicating robust growth ahead. As per estimates, the retail sector accounts for 22 percent of the GDP and contributes 8 percent of the total employment. Total retail sales in India is anticipated to grow from 411 billion dollars (over Rs 25, 58,000 crores) in 2011...

Business

‘India’s retail market to double by 2020’ – BCG report

A new report by the Boston Consulting Group and Retailers Association of India titled ‘Retail 202: Retrospect, Reinvent, Rewrite’ suggests India’s retail market will to double one trillion dollars (over Rs 62 lakh crores) by 2020 from 600 billion dollars (over Rs 37,00,000 crores) in 2015. This will be driven by income growth, urbanization and...

Fashion

Retail sales continue to remain flat this year, says BCG study

Retailers expect flat sales this year on the back of low consumer sentiment and a tight credit market, says Boston Consulting Group (BCG) in a report titled ‘Winning with Uncertainty’. To win in the face of these challenges, retailers need to build agility into their business model, the report says. Low consumer sentiment Abheek Singhi, Partner...

Apparel

PE firms bank on rising purchasing power of women

According to a recent industry study, even during the slowdown men and women responded differently to the price increase in apparel. Surprisingly, while men were quick to postpone shopping for clothes, resulting in a steep decline in volume sales, women shoppers showed resilience. The apparel prices for both men and women witnessed a...