Can Fashion Brands Survive the Uncharted Terrains of 2020?

The State of Fashion 2020: Navigating Uncertainty produced by Mckinsey & Company in partnership with Business of Fashion reports that fashion companies may face dire and difficult situations in a precarious market.

 The report urges fashion brands to plan for resilience to survive slow economic growth and outlast the competition. 

One of the key 2020 trends the report urges fashion brands to embrace is innovation and digitization, specifically digital recalibration and re-thinking traditional engagement models on prevalent social media platforms. The report states, “It is getting harder to stand out in established social media. Fashion players need to understand how to gain traction on newer platforms.” Not only must brands venture into the uncharted terrains of new social media platforms, but they also must develop vast volumes of high-quality content tailored to particular channels. 

The report highlights, “Attention-grabbing content will be key, deployed on the right platform for each market.” Deploying the right creative content to the correct channel calls for an intuitive creative workflow platform. A workflow platform, such as globaledit, utilizes robust metadata and AI to quickly locate the right visual assets created for specific social media channels. Learn more about how globaledit can help you prepare for navigating the uncertainties in 2020.