Euromonitor news and archive

From creative to strategic: The impact of AI on the fashion industry according to Euromonitor

Generative AI (Gen AI) has evolved from an emerging innovation to an indispensable strategic component for the fashion industry. According to the latest report from Euromonitor International, this technology is redefining creative processes and customer interaction, marking a turning point in how fashion businesses operate. Summary • Generative...

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Business

Gen AI: Game changer for sustainable fashion?

As COP28 recently concluded in Dubai, with promising commitments from fashion players, it is undeniable that there has been an acceleration in the pace towards positive change across the industry since the pandemic, with a growing number of market players improving their efforts in terms of diversity and inclusion, while taking measures to...

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Euromonitor: 6 Consumer trends for 2024

As high streets slowly become Christmas-proof through ornate illuminations and festive store windows, it is clear the end of 2023 is approaching and another new year is upon us. Time to look ahead, then. These are the biggest consumer trends in 2024, according to market research firm Euromonitor International. AI-enabled chatbots and digital...

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Business

Fashion and luxury supply chain rejig: Latest innovations and trends

As the pandemic and the war in Ukraine have placed intense stress on global supply chains, purely efficiency-based models have shown their limits in the fashion industry. Since then, luxury and fashion players have pivoted their business models from using AI to investing in bioengineered fibres or nearshoring some of their operations to build...

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Fashion

New environmental regulation and a greenwashing crackdown: So what does that mean for fashion?

The EU’s Corporate Sustainability Reporting Directive (CSRD) was just passed in January 2023. Encompassed in the EU Strategy for Sustainable Textiles which itself is anchored among other wider schemes such as the Circular Economy Action Plan (CEAP) and The European Green Deal, the new CSRD will require nearly 50,000 qualifying large...

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Retail

Could pop-up stores rescue brands with excess inventory this winter?

The main concern for high-street fashion brands in late 2021 and the first half of 2022 was to find enough clothes to sell, as demand was heating up in Europe, while key manufacturing hubs in Asia were under strict restrictions to curb their Covid-19 waves. However, the situation is drastically different today, with many of the key fashion...

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Fashion

Inside the new plant-based craze in fashion

Following the pandemic, and the subsequent revision and evolution of many societal values, consumers increasingly expect fashion companies to be purpose-driven, support social initiatives, and reduce their environmental footprint, as the climate change emergency makes headlines. Diversity, inclusivity and equality are at the top of the agenda....

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Hallyu 2.0 and the Korean Influence on Western European Luxury

Hallyu is a Chinese term that translates to the ‘Korean Wave’ and it refers the transcendence and increasing popularity of South Korean cultural exports such as South Korean TV dramas and pop music. The movement started in Asian countries such as China and Japan from the mid-1990s to the mid-2000s, and now the second wave - or ‘Hallyu 2.0’ - is...

Podcast

Podcast: Korean Influence on Western European Luxury

This month’s Fashion Friday podcast by Euromonitor International discusses ‘Hallyu 2.0’ – the growing influence of Korean culture on luxury. Image: Pexels

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Top trends shaping the Apparel industry in South Africa

This month’s Fashion Friday podcast episode by Euromonitor International analyses top trends shaping the apparel industry in South Africa in the medium term. The region experienced recessionary economic conditions in the past year due to the COVID-19 pandemic. In the Middle East & Africa, the value of the industry declined by 15 percent due to...

Podcast

Fashion Friday: Top Trends Shaping the Apparel Industry in South Africa

There has been a rise in digitalisation in South Africa. All major apparel retailers, both local and international, now have an online presence and have been investing heavily in their e-commerce platform to improve user experience. Pure online retailers such as Superbalist and Zando, who already had a competitive edge on apparel specialists...

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Business

Sustainability and circularity within the luxury sector: the case of Valuence Holdings

The global luxury goods market, which was massively impacted by the COVID-19 pandemic, is expected to recover to the pre-pandemic level in 2022, reaching USD 1,096 billion at constant 2020 prices. Sustainability is an increased focus area particularly for luxury players to engage with consumers moving forward. The expansion of the circular...