It’s no surprise to hear that the world of fashion is ever-changing and evolving. Every season brings with it new fashion trends. All while designers are constantly creating to stay one step ahead of the demand.
The world, even beyond fashion, has changed so much in the past year. Covid-19 brought with it change on a global scale, and every industry has been forced to adapt. That includes fashion. How will the fashion industry adapt in the coming year?
In an article titled ‘The State of Fashion,’ the McKinsey Company theorized that there would be ten dominant trends or themes spotted in 2021. Many of these themes will directly address the challenges the fashion industry will face.
Naturally, the themes include apparent elements such as living with the virus, travel interrupted, diminished demand, and less is more. Additionally, some themes show a deeper understanding of the change the industry will face, such as digital sprint, seeking justice, opportunistic investment, deeper partnerships, retail ROI, and work revolution. It’s worth noting that many of these key terms are popping up all over the fashion industry as companies brace for inevitable change.
The world has gone through so much in the past year. It is on the cusp of yet another change as well. Global warming is more openly discussed and believed. Thus, public demand dictates that companies must do their part to help in the battle.
Sustainability is going to play a vital role in 2021. The fashion industry has always indulged in excess – inventory, travel, design, everything. That is going to have to change. Many product lines are slimming down, as part of the ‘less is more’ initiative mentioned above. They have learned that more extensive lines do not automatically equal sales, and people prefer to support less wasteful companies.
Much like the call for sustainability, the demand for increasing diversity has been heard around the globe. Countless studies have proven that people want to see more diversity in marketing and naturally in the fashion industry.
Ultimately, this drive for diversity has caused companies to look internally, both at their practices and culture. Companies have issued new brand missions and marketing strategies in an attempt to be more inclusive.
There are a lot of lessons to be learned from 2020. One such lesson is virtual branding and marketing. In the fashion industry and many other industries, the companies that had a significant online presence overall did better than those that did not.
As such, it is safe to assume that more companies will be focusing on online marketing for the foreseeable future. In turn, this will push the digital front even further, as 3D rendering and prototypes become more popular.