As the weather gets warmer and shoppers spend more time outdoors, consumer spending tends to shift towards new experiences and the services that go with them, but for e-commerce brands, the summer slump might be a thing of the past. 

While overall retail spending tends to cool in the warmer months, e-commerce seems resilient to retail’s seasonal slumps as online sales are expected to hit $6.3 trillion worldwide in 2024. And with consumer optimism the highest it’s been in two years, early reports predict a summer 2024 spending boom. Fashion is leading the charge: 78% of consumers say clothing is their top choice for summer spend.

Recent headlines suggest that fashion’s direct-to-consumer craze is slowly waning. Iconic brands like Nike are touting their re-entry and investment into wholesale. Major retailers, such as Target, are looking to wholesale their private labels beyond their stores. Meanwhile, DTC darlings — from Allbirds to Warby Parker — have seen their valuations slashed, sometimes upwards of 90%.

As the growth of DTC becomes unclear, brands are reprioritizing a broader distribution strategy. According to NuORDER’s 2024 State of B2B Commerce Report, which surveyed over 250 fashion industry professionals, confidence in wholesale is trending upward — and it’s already eclipsed every other channel in revenue and strategic impact. 

Many fashion brands and retailers will reach a time when they need to start thinking beyond the borders of their home market and consider how they might break into new geographies.

The fashion industry today is arguably more complex than ever, so understanding the landscape in your target market – including macro and micro trends – and translating that research into actionable insight is critical for short and long-term success.

Fashion and apparel brands face escalating acquisition costs and changing consumer spending habits. These shifts underscore the need for brands to attract new high-value shoppers and continue building long-term relationships with existing customers.

Instead of employing a broad, one-size-fits-all approach, leading fashion brands strategically invest in promotions that tie back to profitability — without compromising the brand’s image.

It’s a safe bet that when you switch from texting someone to checking your email, you don’t become an entirely different person. Nor does your personality change radically when you switch from email to Instagram. Yes, you may have specific marketing preferences distinct to each channel. But it’s the same you using each of them.

Despite this obvious fact, the channel-centric marketing model has long been dominant. 

In this eBook, we analyse over 150,000 real-world customer reviews from Zara, New Look, H&M, Next, and ASOS to uncover what the current state of play is in the fashion industry. Here’s what you’ll learn:

What’s The State of Play is in the Fashion Retail Industry Today

Learn who’s succeeding, what turns customers away, and more importantly, what drives customers to recommend brands to their friends and family.

The fashion industry has navigated some turbulent times in recent years. So, what can we expect in 2024? McKinsey & Company’s eighth annual State of Fashion report combines analytical perspectives from leading McKinsey experts with insights from fashion industry executives across multiple markets. Covering consumer attitudes, fashion trends, the global economy and supply chain dynamics, State of Fashion provides a detailed overview of what’s next. In this blog, we bring you the key takeaways from this insider’s guide.

See how fashion retailers can incentivize the customer journey - from conversion to retention - by implementing granular promotions, smart pricing strategies, and personalized rewards. The Fashion Promotions report covers:

• 30 actionable campaign ideas to run targeted promotions

• The key data blocks to power promotions + how to use them

• Successful promotion campaigns from leading fashion brands