The global luxury market is walking a tightrope between tradition and transformation as it approaches 2030.
The global luxury fashion industry, once buoyed by relentless post-pandemic demand, now faces a prolonged slowdown with growth projected at just 1–3% annually through 2027, according to McKinsey & Company’s State of Luxury 2025 report.
Over the past two years, the luxury industry’s customer base has contracted by approximately 50 million consumers, shrinking from 400 million to around 350 million by the end of 2024.
A recent Statista report published yesterday reveals significant disparities in enthusiasm for the metaverse across global markets, with emerging economies showing substantially higher interest than developed nations.
The luxury goods titan LVMH, founded in 1987 through the merger of Louis Vuitton with Moët Hennessy and now home to 75 iconic luxury brands, continues to dominate the global luxury market.
Gucci has reclaimed its position as the most successful luxury brand on Douyin, China’s popular short video app, surpassing Ralph Lauren.
A recent report from Statista provides a detailed breakdown of the market share of women’s luxury apparel sales in Canada for 2019.
The fast-fashion sector is poised for significant expansion as the fashion industry continues to evolve, driven by technological advancements and shifting consumer preferences.
Nordstrom reported fourth-quarter earnings Monday, highlighting resilience in its core luxury business and growth in its off-price Nordstrom Rack division.
The e-commerce landscape is bracing for seismic shifts as new tariffs, regulatory changes, and supply chain complexities threaten to disrupt operations.
The 2025 merger of International Paper and DS Smith has created a global packaging leader uniquely positioned to address evolving consumer demands.
The retail industry is constantly evolving, and hiring can feel like a never-ending challenge. Finding the right talent at the right time while keeping up with operational demands?
The Duchess of Sussex’s latest business venture, As Ever, ignited a legal firestorm after a New York City clothing label accused Meghan Markle of trademark infringement.
The viral success of Ontario Premier Doug Ford’s “Canada Is Not For Sale” hat has sparked an unexpected legal battle between the Ottawa-based company behind the merchandise and a British Columbia retailer.
In a transformative leap for the retail industry, augmented reality (AR) and virtual reality (VR) technologies are becoming indispensable.
The virtual fitting room market is rising, driven by the rapid growth of e-commerce and the increasing demand for personalized, convenient shopping experiences.
In an exciting reveal, LTK, the pioneer in creator commerce, announced its sixth annual Most Loved Awards, highlighting the top trending products at the end of 2024.
The Jungle Scout Consumer Pulse Report 2024 sheds light on key retail shopping trends and consumer behaviors.
The retail landscape has experienced remarkable shifts, both in terms of technological advancements and consumer preferences.
The fashion industry is undergoing a seismic shift as technology reshapes how we design, produce, and consume clothing.