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Agenda-setting intelligence, analysis and advice for the global fashion community.

The Year Ahead: How Income Inequality Is Changing Fashion

Consumers will be unevenly impacted by economic turbulence in the year ahead. Depending on disposable income levels, some will postpone or curtail discretionary purchases, while others will seek out bargains, creating opportunities for off-price, resale and rental channels.
Shopping behaviour will diverge across income groups in 2023.
Shopping behaviour will diverge across income groups in 2023. (Getty Images)

Brands and retailers that weathered 2008′s global financial crisis can be forgiven for feeling a sense of

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Further Reading

The State of Fashion 2023: Resilience in the Face of Uncertainty

The seventh annual State of Fashion report by The Business of Fashion and McKinsey & Company reveals the industry is heading for a global slowdown in 2023 as macroeconomic tensions and slumping consumer confidence chip away at 2022′s gains. Download the full report to understand the 10 themes that will define the industry and the opportunities for growth in the year ahead.

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