The Ten Subjects That Will Shape Fashion in the Upcoming Year

The State of Fashion 2024, an official yearly study from The Business of Fashion and McKinsey & Company, has 10 themes that illustrate how leaders may spot possibilities for growth even in the face of unpredictability and volatility.Executives in the fashion sector are anxious as they look beyond 2024.

The BoF-McKinsey State of Fashion 2024 Executive Survey indicates that "uncertainty" is the most common sentiment among fashion leaders. Geopolitical developments, faltering economies, and the lingering effects of high interest rates are all reasons for anxiety. Executives, however, also perceive some cause for optimism in particular markets and market niches. In terms of 2024, the survey conducted in early September revealed that 26% of participants expected the situation to improve year over year, 37% expected it to stay the same, and 38% expected it to worsen. This represents the widest gap in executives' expectations for the upcoming year since the BoF-McKinsey survey was first conducted in 2017.