BoF Insights

Differentiating the in-store experience is key to reigniting demand for in-person shopping, according to the BoF-McKinsey State of Fashion 2025. Brands can achieve that by empowering their store associates to reach their full potential.

Macroeconomic headwinds, shifting customer preferences and a deteriorating value proposition continue to weigh on the global luxury sector in 2025. Companies need to review their strategic priorities — investing in talent development, product excellence and finding new ways to engage with clients. Download the special Luxury edition of The State of Fashion report by BoF Insights and McKinsey & Company to understand the strategic imperatives for luxury executives in the years ahead.

Macroeconomic pressures and rising prices have driven fashion shoppers to adopt cost-conscious behaviours. To capture customers’ share of wallet, brands will need to prove their value, finds the BoF-McKinsey State of Fashion 2025.

To combat the high costs of overstock and stock-outs, winning brands are improving their end-to-end planning with tech tools and operating models that allow for greater supply-chain agility, according to the BoF-McKinsey State of Fashion 2025.