Fashion Industry Future in 2022

Last two years were full of disruptions and the fashion industry registered a decline of – 20% in 2020 in comparison to 2019. Fashion market was so gloom and doom that about 7% of companies shut their shops and left the industry completely. Reasons can be many from financial distress to tough rivalry.

The year 2022 will surely be a critical year for the fashion industry and all the players and stakeholders.

Taking all of this into account, there are ten themes that The Business of Fashion thinks are critical in 2022 for the fashion business: Business of fashion is not only critical but also sensitive in many issues and we as a fashion agency always explore different aspects of the fashion industry including the future we are about to step in.

Few points that we should take care of and follow so that we can have a fair amount of idea how the year 2022 will behave- care and follow so that we can have a fair amount of idea how the year 2022 will behave-

1. Bumpy recovery: The issue of Covid is still persisting so there will be some roadblocks but ultimately it will recover.
2. Wardrobe revamping: Two years of stoppage is too long for the fashion world so there is a demand for a new set of dresses to revamp wardrobes.
3. Virtual Shopping. Growth of virtual shopping will remain high
4. Mind your Metaverse: Consumers will prefer to spend more time online and follow influencers to make up their minds before shopping.
5. Circular Economy in Fashion: Fashion industry and top fashion brands are focusing more on recycling clothes in their fashion collections.
6. Logistics Loggerheads: There will be no respite for the logistical segment of fashion due to various restrictions imposed by different countries.
7. Cyber Attacks: Fashion is getting digitized and this means it is now prone to cyber-attacks in different forms. A proper cyber defense mechanism is important.
8. Shortage of Talents: Economic slump and volatile market
9. Sustainability: Consumers are increasingly becoming conscious about Mother Nature and this has been pushing the brands to adopt eco-friendly practices

The Fashion industry is still hostile but there are ways to cope with it despite fresh threats from Omicron variant. We know how we can help you to grow your business in this tough time so that you enjoy a wonderful business year in 2022.

If you want to know more email us at info@fabusse.com