{"id":448,"date":"2023-09-02T05:26:34","date_gmt":"2023-09-02T05:26:34","guid":{"rendered":"https:\/\/savemycent.com\/?p=448"},"modified":"2024-02-16T14:13:52","modified_gmt":"2024-02-16T14:13:52","slug":"fashion-industry-statistics","status":"publish","type":"post","link":"https:\/\/savemycent.com\/fashion-industry-statistics\/","title":{"rendered":"39 Thought-Provoking Fashion Industry Statistics [The 2024 Outlook]"},"content":{"rendered":"\n
The global apparel market is expected to recover and grow from $1.55 trillion in 2021 to $1.7 trillion in 2022, the latest fashion industry statistics tell us. At the same time, both consumers and brands are becoming increasingly aware of the importance of sustainable fashion.<\/p>\n\n\n\n
The thing is:<\/p>\n\n\n\n
While the size of the fast fashion market keeps growing, more and more consumers and fashion companies are looking at the environmental and ethical dimensions of sustainability. Inclusion, diversity, vegan alternatives, and sustainable procurement are influencing industry decision-makers.<\/p>\n\n\n\n
Check out all the global fashion industry statistics below.<\/p>\n\n\n\n
(McKinsey)<\/p>\n\n\n\n
The combination of staying at home and worrying about finances led the majority of consumers to reprioritize. As the situation continues further into 2021, Mckinsey predicts that the industry won\u2019t be returning to pre-pandemic sites before at least late 2023.<\/p>\n\n\n\n
(McKinsey)<\/p>\n\n\n\n
The pandemic came at the right moment to accelerate the necessary changes in the fashion industry. Although many retailers focus on saving themselves while laying off workers at the start of the supply chain, the general consumer sentiment might be their biggest challenge. Different reports show that in 2020, many consumers reconsidered their approach to shopping.<\/p>\n\n\n\n
(McKinsey)<\/p>\n\n\n\n