E-concessions and consignments galore the marketplace model has emerged as a new industry favorite. In 2022, 47% of purchases were via online marketplaces.
Several apparel brands have incorporated data-driven technology into their websites to analyse the fit and size of their clothing ranges. This is to boost consumer satisfaction and reduce return rates, according to Global Data’s Online Apparel Market & Forecasts to 2025 report.
COP26 served as a reminder of the uphill battle to meet the world’s decarbonization commitments by 2050. A sustainable climate solution requires the participation of every industry, which means every industry must mobilize. Despite its late arrival, the retail sector is on its way to catching up. There were only a few major retailers with science-based carbon reduction targets in 2016. Within five years, more than 65 global retailers set such targets, and the number is growing steadily.