The future of the fashion industry is predicted by the analysts at Business of Fashion and McKinsey & Company every year using their magic crystal ball. The State of Fashion has always been a trustworthy source of information regarding changes in consumer preferences and game-changing technological advancements, but the 2019 edition in particular forecasts significant changes that might rock the fashion industry to its very foundation.

A hard chore may be reading the entire document, especially if you have other creative responsibilities to complete. That’s why I made the decision to compile the 21 most important quotes from the State of Fashion 2019 and to consult leading authorities in the field of fashion for their opinions. Additionally, it’s simple to post these quotations on social media.

Growing Interest in the Eastern Market

The coming year will be remembered in history. Greater China will surpass the US as the largest fashion market in the world for the first time in centuries. Twitter this

China is no longer just the world’s factory. With more than 18% of all final items consumed, it is the consumer market with the fastest growth in the entire world. Twitter this
Due to its fast expanding middle class and burgeoning manufacturing sector, India is becoming more and more of a focus for the fashion industry. These, along with the country’s sound economic foundation and rising technological sophistication, make it impossible for foreign companies to ignore India. Twitter this

Changes in the Fashion Industry’s Regulatory Environment

A new generation of “challenger” businesses that upend an industry or category where established competitors have sat on their laurels is being made possible by technology and social media. Twitter this
More and more customers are drawn to niche brands with interesting and genuine storytelling. Larger firms must learn how to think small in order to keep up. Twitter this
The [technology-focused e-commerce businesses] that broaden their ecosystem, whether through acquisitions, investments, or internal R&D, will increase their advantage over the remaining pure players who rely primarily on retail margins and current offers. Twitter this
A seismic shift is beginning in the fashion industry, where products are “pulled” into the market based on actual demand as opposed to “pushed” into the market based on predictions and best-guesses.

The Retailing Tiebreaker: Omnichannel

Omnichannel and e-commerce, increasing CRM capabilities, enhancing in-store experiences, and brand building were selected as this year’s top expenditures in sales growth. Twitter this

The continued drop in foot traffic in physical spaces is forcing brands and retailers to strengthen their omnichannel strategy. Twitter this
A store must be more than just a place to make purchases. It must be a gathering place, and if you don’t include entertainment, education, and experience, you won’t fare as well. Twitter this

Acknowledging Digital Innovation

A business does not need to create the integrated solution from beginning because the technical building blocks [for improving the customer experience] already exist. Using SaaS capabilities, these current skills can be quickly combined. Twitter this
Customers who continue to demand improved experiences complain about the delay between discovery and purchase. In order to facilitate a quick and seamless transition from inspiration to purchase, businesses are placing more and more emphasis on removing this source of friction and introducing new technology. Twitter this

The Next Step to Success Is Finding a Solution
The State of Fashion is a terrific resource that exposes current trends and problems, but in order to advance your company, you’ll also need the proper solution. You may download the complete report from this page if you want to learn more about the context of these quotes and what else the Business of Fashion and McKinsey & Company have to say about these issues.