The state of fashion | McKinsey & Company

After a tough 2016, growth in the $2.4 trillion industry may accelerate next year, according to the first joint report from McKinsey and the Business of Fashion.Fashion is one of the past decade’s rare economic success stories. Over that period, the industry has grown at 5.5 percent annually, according to the McKinsey Global Fashion Index, to now be worth an estimated $2.4 trillion. In fact, not only does it touch everyone, but it would be the world’s seventh-largest economy if ranked alongside individual countries’ GDP.Yet 2016 was one of the industry’s toughest years. Terrorist attacks in France, the Brexit vote in the United Kingdom, and the volatility of the Chinese stock market have created shocks to the global economy. At the same time, consumers have become more demanding, more discerning, and less predictable in their purchasing behavior, which is being radically reshaped by new technologies. It’s against this backdrop that McKinsey has teamed with the Business of Fashion to shine a light on the fragmented, complex ecosystem that underpins this giant global industry.2016: A year to forget

Source: The state of fashion | McKinsey & Company

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DMN: The Evolution of CRM

The importance of solid Customer Relationship Management software continues to grow year after year, and the market is expected to incur even more major changes over the next few years. As the industry evolves, the demand for CRM solutions has increased, forcing many companies to innovate at a rapid pace.In 2015, sales of CRM software totaled $26.3 billion, up 12.3 percent from $23.4 billion in 2014, according to Gartner.

Source: The Evolution of CRM – DMN