Around the world, the fashion industry — at all levels and for all segments — is a key driver of the global economy. It generates trillions (that’s trillions 🙂 ) of dollars of revenue and employs millions of workers.
Recently, McKinsey & Company released a detailed report on the global fashion industry. Here are some of its findings:
“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.”
“So what will change in 2017? No one would put money on volatility and uncertainty lessening. Nonetheless, our report finds that fashion companies are hopeful they can improve their performance through a combination of organic growth and leveraging new technologies. Successful companies will invest more to nurture local clientele: 2017 will be the year of organic growth by deepening relationships with existing clients, rather than through geographic, channel, and store-network expansion. And digital innovation will go behind the scenes: digitization will be the key to supply-chain efficiency, lowering procurement costs, and the enhancement of sourcing opportunities.”
To access the full report, click on the image below.
Yes, we at Evans on Marketing have made a number of posts about about online security, privacy, identity theft, and related issues. We’re not really trying to scare you, but we are trying to get you to be more alert and to protect yourself better online. That’s why we we’ve posted several tips, such as: 1, 2, 3 (a short video quiz), and 4 (video tips).
So, here’s another alert for YOU!! 🙂
Recently, AV-Test, a nonprofit organization that monitors online security, published its latest report. To grasp the highlights of this report more easily, TechRepublic has summarized what it considers to the top four points made by AV-Test:
- “Android is becoming more vulnerable to cybersecurity threats — While the majority of malware deployed in 2015 and 2016 targeted Windows, the most widely-used operating system in the world, Android is increasingly under fire as well. Malware attacks on Android platforms jumped from about 3% in 2015 to nearly 7.5% in 2016. Though it seems like a fairly small percentage jump, it represents an increase of millions of attacks, and marks ‘a significant trend away from Windows and towards Android,’ the report stated.”
- “Mac’s security fortress is just an illusion — Many Apple Mac users believe that the devices cannot be infected with a virus—even those using Macs in the enterprise, the report stated. And compared to Windows, the number of malware programs attacking Apple’s Mac platform is tiny: Just 819 malware threats targeted Macs in 2015. [Due to the small percentage of Macs in the marketplace — which remain at a 7.5 percent market share as of the date of this post.] However, that does not mean that these attacks were not serious. Plus, attackers would not need to program a large number of malware applications to obtain data from Mac users, as they rarely have antivirus solutions installed, the report said.” [Is this YOU?]
- “The rise of potentially unwanted applications (PUA) — A new cyber risk comes in the form of potentially unwanted applications (PUA), which are deployed by the advertising industry to track personal information on user and movement patterns, and to then display personalized advertising without the consent of the user. PUA represented nearly one-third of the online risks in 2015, the report stated, and are steadily increasing.”
- “The top 10 Windows malware of Q1/Q2 2016 — More than 85% of malware attacks occurred on Windows machines in 2015, with that number dropping to 67% in 2016. Some 12 million new Windows malware programs enter the market each month, the report found. Here are the top 10 malware for Windows to keep an eye out for.”
Click here to access the full AV-Test report. Click here to access the TechRepublic synopsis.
Yesterday, we posted about the most popular gifts this year. Today’s post focuses on gift cards. These cards are easy to purchase and enable the recipients to buy what what most interests them — while also being somewhat impersonal.
Based on the recent survey by the National Retail Federation and Prosper Insights & Analytics, these gift card findings are clear:
“Holiday shoppers are planning to purchase an average of three gift cards with an approximate value of $46 per card, the second most-popular gift after clothing. Spending on gift cards is expected to reach $27.5 billion, up from last year’s planned $26 billion. The most popular types of gift cards include those from restaurants (35 percent of buyers), department stores (33 percent), Visa/MasterCard/American Express (22 percent), coffee shops (21 percent) and entertainment (17 percent).”
Uber has grown rapidly as an alternative to the taxi. Nonetheless, Uber wants to be more than just a passenger app. And one of its more recent pursuits is Uber Eats, a restaurant food delivery service that already operates in 53 cities: “By tapping into the Uber network, you can get anything from our roster of local restaurants, fast. The average order takes 35 minutes from start to finish. When you’re ready to place your order, you’ll see a total that includes the food and delivery price. There’s no need to tip. Pay with your Uber account and track your order on the site as it comes to you.”
There are questions about whether Uber Eats will generate long-term success. There is substantial competition from services such as GrubHub and Seamless. Many local restaurants will deliver in their immediate area. Perhaps most importantly, other services are often free, while Uber Eats charges a delivery fee in some instances.
Take a look at this video clip by industry expert Phil Lempert regarding the prospects for Uber Eats. What do YOU think?