In a survey of executives at fashion companies ran during the second half of 2022, half of respondents said that their company was investing in digital capabilities and tools to try and fortify against increased disruption and shifts in consumer spending. This was closely followed by the share of respondents who were differentiating their product compared to their competition.
What apparel, footwear, and accessories executives are doing to fortify against disruption and shifts in consumer spending in 2022
21 percent C-suite, 30 percent management, 32 percent top management.
12 percent wholesalers, 16 percent brands, 17 percent factories/manufacturers, 17 percent retailers (of which 34 percent were specialty stores, 27 percent department stores, 22 percent DTC or pure-play retailers.)
22 percent had apparel as their company’s primary product category, 20 percent footwear, 18 percent accessories, with the balance in fabrics, trims and fibers.
61 percent had gross sales or revenue of less than 500 million U.S. dollars, 22 percent 500 million to two billion dollars and nine percent two billion dollars or more.
The source does not provide a geographical breakdown of respondents.
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Sourcing Journal. (October 18, 2022). What apparel, footwear, and accessories executives are doing to fortify against disruption and shifts in consumer spending in 2022 [Graph]. In Statista. Retrieved December 30, 2024, from https://www.statista.com/statistics/1360041/clothing-companies-protections-from-spending-disruption/
Sourcing Journal. "What apparel, footwear, and accessories executives are doing to fortify against disruption and shifts in consumer spending in 2022." Chart. October 18, 2022. Statista. Accessed December 30, 2024. https://www.statista.com/statistics/1360041/clothing-companies-protections-from-spending-disruption/
Sourcing Journal. (2022). What apparel, footwear, and accessories executives are doing to fortify against disruption and shifts in consumer spending in 2022. Statista. Statista Inc.. Accessed: December 30, 2024. https://www.statista.com/statistics/1360041/clothing-companies-protections-from-spending-disruption/
Sourcing Journal. "What Apparel, Footwear, and Accessories Executives Are Doing to Fortify against Disruption and Shifts in Consumer Spending in 2022." Statista, Statista Inc., 18 Oct 2022, https://www.statista.com/statistics/1360041/clothing-companies-protections-from-spending-disruption/
Sourcing Journal, What apparel, footwear, and accessories executives are doing to fortify against disruption and shifts in consumer spending in 2022 Statista, https://www.statista.com/statistics/1360041/clothing-companies-protections-from-spending-disruption/ (last visited December 30, 2024)
What apparel, footwear, and accessories executives are doing to fortify against disruption and shifts in consumer spending in 2022 [Graph], Sourcing Journal, October 18, 2022. [Online]. Available: https://www.statista.com/statistics/1360041/clothing-companies-protections-from-spending-disruption/
