McKinsey’s State of Fashion Technology Report 2022

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Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   AN ARTICLE A DAY, PICKED BY OUR EDITORS Fashion’s been heeding the call of technology for years—and the industry’s future is looking even more digital, with fashion companies expecting to double tech investments by 2030 to stay competitive. There are many ways they can apply innovative digital resources to better serve customers and increase business efficiency. Where are executives leaning in, and what are opportunities for creatively using robotics, AI, and other technologies to their advantage? McKinsey’s State of Fashion Technology Report 2022 dives deeper on the dynamics and highlights five key technology themes with potential. Be sure to check it out. —Babi Oloko, digital editor, New York State of Fashion Technology Report 2022 As technological innovation accelerates, fashion companies have an opportunity to serve customers better while also creating a more efficient, responsive, and responsible business. Keep up Quote of the Day “One factor that helps breed confidence around taking risks is having a deeply personal mission. Climate technology companies tend to take on bold objectives and—because it’s personally meaningful to them—ensure they get done end to end.” —Explore the three-step approach for incumbents seeking to build green businesses in "Building a green business: Lessons from sustainability start-ups" Chart of the Day See today's chart   Also New The business value of innovation in the cloud In this interview, TrueBlue’s chief technology and information officer explains why migrating to the cloud was always about far more than just technology. Follow the cloud journey   Skinny design: Smaller is better Designing packaging and products with supply chain and in-stock issues in mind can increase revenues and profits, all while meaningfully improving sustainability. Three steps can point the way. Implement new strategies   Author Talks: “If you don’t understand … how are you going to help?” List-based marketing can go in one ear and out the other for consumers, which is why one Fortune 500 adviser says the best branding combines empathy, connectedness, and good storytelling. Take a new approach   Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007