The global fashion industry is finding its feet again after nearly two years of supply-chain disruption and patchy demand. McKinsey Fashion Scenarios suggest global fashion sales will reach 103-108% of 2019 levels in 2022. Due to pent-up demand, sales seem to be on track to pick up momentum this year.
Given the dynamicity of the apparel industry, the integration of technological innovations such as Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), and data analytics are ramping up, propelling the industry’s growth. Additionally, with sustainability dominating the fashion agenda lately, companies are aggressively expanding their sustainable assortments and boosting supply chains.
