TABLE OFCONTENTS
Introduction:ScenarioPlanning
BrandOverview
ExecutiveSummary
Research&Analysis
FiveYears-2027
TenYears-2032
FifteenYears-2037
SCENARIOPLANNING
"The future? Oh, I never think about the future. It will be here soon enough."
Scenario planning is a management best practice that creates a narrative of the future by analyzing trends and facts to develop strategic initiatives that will direct the success of the company.
BRANDOVERVIEW
BRANDPURPOSE
MISSIONSTATEMENT
"At Good American, we’re always working to innovate, find solutions, and redefine fashion for the modern woman. It’s how we started, and we’re not stopping any time soon."
PURPOSESTATEMENT
Our purpose is the modern woman. We aim to find innovative solutions that empower every woman, and maintain responsible practices for the future of every woman.
BRANDATTRIBUTES
RATIONAL EMOTIONAL
Affordability
Luxury quality at an affordable price point.
Empowerment
Designs aimed to promote body confidence for women of every shape and size.
Comfort
Innovative designs focused on comfort and curves.
Inclusivity
Embraces diversity, models are diverse in size and race.
CSR
Reduced waste due to non-traditional sizing, low inventory, and production practices.
Anticipation
New weekly product launches, which is rare for fashion brands.
CHALLENGEQUESTION
Founded in 2016, Good American is still in its youth. How will the brand sustain weekly product launches long-term? Is there an alternative for maintaining consumer anticipation?
EXECUTIVESUMMARY
Good American is a young brand which has demonstrated qualities of planning for the future and embedded these qualities into the brand DNA. As a certified B-corporation, Good American was founded with the prioritization of corporate social responsibility at its core. Promoting body confidence, inclusivity, and sustainability the brand has been an innovator of what the triple bottom line looks like for women's fashion. Good American will need to maintain this innovative outlook and generate ideas that will give the brand a competitive advantage and grow its share of the market in the future. This means planning for scenarios seen and yet to be known as this analysis aims to do.
RESEARCH&ANALYSIS
F I V E Y E A R S
STEEP|SOCIAL
Omnichannel Experiences
Brands will need to create unique experiences to engage with consumers through multiple channels. Leveraging social med to meet consumers where they are at will remain important, wh also offering opportunities to experience the brand in person.
User-Generated Content
Another reason for omnichannel experiences is so consume have the opportunity to contribute to brand content. Us generated content is viewed as authentic by consumers a therefore builds trust in the brand.
Employee Engagement
Encouraging employees to represent the core values of the bra through contributions to the community with volunte opportunities. This not only demonstrates the brand values practice but also allows employees to contribute to the grea good.
STEEP|TECHNOLOGY
Metaverse
Virtual fashion is anticipated to gain popularity as more consumers engage in the Metaverse and other intangible forms of goods consumption.
Artificial Intelligence (AI)
Brands are using AI technology to test products among consumer groups to assist with more accurately predicting demand before producing new goods.
Non-Fungible Tokens (NFTs)
NFTs were formed on the basis of scarcity and collectibles much like the art and luxury fashion industries. The future of NFTs in fashion means exploring the use of digital, 3D clothing for consumers to share on social media.
STEEP|ECONOMIC
Buying Power
GenZ currently accounts for 40% of consumers in the US but this is expected to surpass Millennials, the largest consumer group, by 2026. Consumer spending will increase but these groups are more conscious so catering to their needs is essential.
Inflation
As the central bank aims to avoid a global recession, interest rates continue to rise and consumers worldwide continue to feel the financial impacts of inflation.
Supply Chain
Suppliers have not yet recovered from the pandemic which has disrupted the supply chain. It is expected that the recovery process will be slow and take several years.
STEEP|ENVIRONMENTAL
Resource Availability
Raw materials can be scarce at times which forces brands to become innovative in their sourcing and textile production. Many brands are seeking to create a sustainable alternative for certain materials, such as leather.
Circular Fashion
As consumers become more environmentally conscious, many are choosing recycled or second-hand goods to reduce their own impact on waste.
Social Norms
Diversity, inclusivity, and body acceptance have shifted the way society chooses a brand. These factors have become priority in the purchase decision process for consumers.
STEEP|POLITICAL
Presidential Election
The US will elect our next President in 2024. A change in President can shift policies surrounding tariffs, taxes, and international relations which can directly impact supply chain practices.
China
China is significant in the function of the global supply chain with many countries, and especially the fashion industry, outsourcing production of goods here. Rising tensions between China and other countries threatens the global supply chain.
Nuclear Tensions
North Korea and Russia are threatening use of nuclear weapons. This has created tensions and unease across the globe which could lead to further volatile action such as war. The impacts of these impending threats has potential to create supply chain and other economic disruptions that could upend the industry as countries aim to dissolve any use of nuclear weapons.
FORCESMATRIX
MORESIGNIFICANT
COLOR
CERTAIN UNCERTAIN
VISUALMATRIX
Creating omni-channel experiences is both time and resource intensive for brands. Resources are in place but consumers creating brand content can present challenges both ethically and managing the identity for the brand.
FALLINGACTION CAUSALITYPLOT
Brand establishes a strict set of principles for consumer-driven content creation across its omni-channel platforms allowing experiences that meet the consumer where they are at.
TURNING POINT
RISINGACTION
SET UP
Consumers are seeking brands that allow them to participate in variety of different ways and almost become their ambassadors.
Brand detractors can create content not consistent with brand values resulting in firmer content generation principles and improved cybersecurity to offset any malicious attacks.
RESOLUTION
Brand principles of participation drive only the interested to engage through positive communication. The user-generated content builds trust and authenticity with consumers and results in improved business and industry recognition.
CAUSALITYPLOT
Brand establishes a strict set of principles for consumer-driven content creation across its omni-channel platforms allowing experiences that meet the consumer where they are at.
TURNING POINT
Creating omni-channel experiences is both time and resource intensive for brands. Resources are in place but consumers creating brand content can present challenges both ethically and managing the identity for the brand.
RISINGACTION FALLINGACTION
Consumers prefer in-person experiences to social media content for brand interactions and building trust.
SET UP
Consumers are seeking brands that allow them to participate in variety of different ways and almost become their ambassadors.
RESOLUTION
Brands create pop-ups that highlight brand values and build trust with consumers and throughout the industry.
BLACK SWAN
SCENARIOPLOT
WHO RANG THAT BELL?
THEGOODWITCH
HORSEOFADIFFERENTCOLOR
FOLLOW THE YELLOW BRICK ROAD
HORSEOFADIFFERENTCOLOR
SCENARIO|GREAT&POWERFULOZ
O L L O W T H E Y E L L O W B R I C K R O A D
THE SETUP
Consumers crave brand engagement and social media platforms have proven to build strategic partnerships among consumers and brands. Social media influencers continue to drive product promotions but there are many hurdles to becoming a brand ambassador. Consumers who wish to earn this title with their favorite brands must have the audience to support the idea that it will benefit the brand. Some consumers still feel these kinds of brand engagements are are not as authentic since the ambassadors are paid for their promotion. There has to be a way for brands to engage authentically with consumers that feels mutually beneficial.
SCENARIO|GREAT&POWERFULOZ
T H E G O O D W I T C H
RISING ACTION
Good American has resources in place to create omni-channel experiences for its consumers, but these engagements are time consuming and expensive. Additionally, allowing consumers to create content for the brand poses challenges ethically and with managing brand identity as consumers often use social platforms to voice their displeasures.
Good American would benefit from creating omnichannel experiences that elevate the brand identity and highlight its core values as a certified Bcorporation.
SCENARIO|GREAT&POWERFULOZ
W H O R A N G T H A T B E L L ?
TURNING POINT
Good American develops a set of principles for consumer-driven content creation across omnichannel platforms that provides experiences that meet consumers where they are at while showcasing brand values in a more organic, authentic way. These principles are useful in establishing expectations for consumer ambassador groups that does not hinder transparency but makes clear the ethical power they are being given.
Consumers enjoy creating content for Good American and appreciate having a clear set of principles to follow.
SCENARIO|GREAT&POWERFULOZ
FALLING ACTION
As with any brand ambassador, there is risk involved. Good American considers the risk of these representatives detracting from the brand image with their personal actions, choices, or viewpoints or using access to brand content and experiences to tarnish the brand reputation.
Good American will need to create firmer content generation principles that also increases cybersecurity to prevent any malicious attacks. The brand will still allow authentic user-generated content creation but will establish a review system to ensure its ambassadors are representative of the brand core values.
SCENARIO|GREAT&POWERFULOZ
RESOLUTION
Good American sets a precedent within the fashion industry for how to create engaging omni-channel experiences that reflect brand principles and drive only the interested to engage through positive communication. Consumers begin to trust Good American as the user-generated content feel more authentic and transparent.
This makes Good American a powerful competitor within the industry as it receives positive recognition for its influence as a leader of authentic, omni-channel experiences.
SCENARIO|GREAT&POWERFULOZ
I ' M M E L T I N G
FALLING ACTION
Consumers feel that social media is becoming regulated, and no longer a place of free-spee They begin to crave in-person experiences w brands over social media content consumption build trust. This is quite a shift for Good Americ who will now need to dedicate resources to cre pop-up experiences that are easily accessible to widespread consumer-base. These experiences require more planning, but wh executed, provide an opportunity for consumers personally experience the brand and its val firsthand.
SCENARIO|GREAT&POWERFULOZ
N O P L A C E L I K E H O M E
RESOLUTION
Good American creates pop-up experiences t allow consumers to engage with the brands person. In some ways, this form of bra engagement is nostalgic and feels authentic consumers who have been wanting in-pers experiences.
Good American is able to elevate brand valu during these experiences and consumers be building trust with the brand.
IMPLICATIONS&RESPONSE
ARTIFICIALINTELLIGENCE
INCREASEDBUYINGPOWER
IN-PERSONEXPERIENCES
Increased use of artificial intelligence (AI) helps to develop omni-channel experiences and can assist with regulating principles of user-generated content.
Millennials and GenZ have increased buy power and brands will need to meet them where they are at with authentic experiences to build brand loyalty and earn their trust.
Millennial and GenZ cohorts shift from predicted trends and crave in-person experiences over social media interactions. Brands will need to create new experiences to engage with consumers.
RESEARCH&ANALYSIS
T E N Y E A R S 2 0 3 2
STEEP|SOCIAL
Social Retail
Social media commerce is growing in popularity and allows consumers to purchase directly from the brands they love through social platforms. Convenience will continue to take precedence.
Customer Service
Along the same line, the use of social media for customer service will increase among brands. As consumers continue to engage with brands on social platforms many will see this as a means to reach them for customer service needs.
Social Listening
As brands continue to prioritize corporate social responsibility, social listening can refine a brand's approach to its social strategies.
STEEP|TECHNOLOGY
Cybersecurity
Moving more into business digitalization, risk increases for cyberattacks and data handling. It will be imperative for brands to increase cybersecurity and create standards for data usage, handling, and privacy.
Blockchain
To provide consumers with product authenticity and supply chain transparency, brands are using a combination of radio frequency identifiers (RFID), QR codes. and near field communication (NFC) for establish a blockchain technologies.
Wearable Technology
Fashion brands are innovating clothing that provides consumers to wear technologies ranging from basic biometric data collection to augmentation of the human body.
STEEP|ECONOMIC
Rental Rise
Brands aim to keep up with circular fashion, and there is an increased trend in fashion rentals. Consumers can rent products from brands for a set period of time which keeps their wardrobe fresh and reduces waste.
Moral Capitalism
Companies have long been known to maximize shareholder profits but a rising trend in moral capitalism will force brands to consider other stakeholders such as local communities, employees, and the environmental as drivers of investment interest.
Global Recession
Following inflation it is not uncommon to experience recession. The Global Bank his increased interest rates in an attempt to stabilize the economy but a global recession looks likely for the next decade which means less spending, or more conscious spending.
STEEP|ENVIRONMENTAL
Green Energy
China and India who are primary sources of materials for the fashion industry are struggling to replace dirty fuels with greenenergy. The United States and European Union may have to partner to provide sources to help push these countries towards carbon-neutral production.
Closed-Loop Supply Chain
A closed-loop supply chain aims to identify solutions for unethical sourcing and material waste by substituting recycled materials and creating new products.
Slow Fashion
The opposite of fast fashion, slow fashion focuses on production volume and aims to reduce environmental impact by reducing inventory. This could even push the industry into a made-to-order production cycle.
STEEP|POLITICAL
Deglobalization
Political deglobalization could mean reshoring of some industries. One of th United States biggest trade partners, China, continues to move in a direction tha will impact the long-term growth of trade with the country.
Fashion Activism
As social reform continues to drive politics, fashion will continue to be used as form of activism. Designers will use their platform to convey message supporting these issues to appeal to consumers.
AI Supremacy
As AI technology becomes dominate, it will become the center of conflic between the United States and China. It is believed that AI will create economi and military supremacy, with military experts pointing out China's gain in A research and engineers as a threat.
CERTAIN
VISUALMATRIX
PIONEERING
Wonderwall-Oasis
GoodRiddance-GreenDay
CAUSALITYPLOT
This results in better clarity and transparency for those who adopt the system quickly but it also represents an awareness and accessibility challenge to some consumers. Brand owners have to maintain both systems whilst in transition impacting investments and resources.
TURNING POINT
Blockchain is necessary to allow consumers to easily access information regarding supply chain practices. Brand will need to build awareness and prioritize simplicity of use and access.
RISINGACTION
FALLINGACTION
SET UP
Customers expect higher degrees of transparency and authenticity going deeper and deeper into new categories. Many manufacturers are forced to think differently about their business models.
Word of mouth marketing and easy accessibility helps consumers stay engaged with the brand. The brand owners build improved accessibility that addresses different levels of capability and access with the consumer base.
This improves brand image and attracts more consumers to the franchise because the ease of accessibility and increased transparency. 2 0 3 2
RESOLUTION
CAUSALITYPLOT
This results in better clarity and transparency for those who adopt the system quickly but it also represents an awareness and accessibility challenge to some consumers. Brand owners have to maintain both systems whilst in transition impacting investments and resources.
TURNING POINT
Blockchain is necessary to allow consumers to easily access information regarding supply chain practices. Brand will need to build awareness and prioritize simplicity of use and access.
RISINGACTION
FALLINGACTION
SET UP
Customers expect higher degrees of transparency and authenticity going deeper and deeper into new categories. Many manufacturers are forced to think differently about their business models.
A new generation of consumers dismiss supply chain transparency and prefer upcycled products, creating a ripple effect among older cohorts.
The brand has to adapt by advertising recycling program and implementing this information into the blockchain. 2 0 3 2
RESOLUTION
SCENARIOPLOT
LATE FOR AN IMPORTANT DATE
HAVEWEGONEMAD? CHESHIRESMILE
THROUGH THE LOOKING GLASS OFF WITH THEIR HEADS
SCENARIO|LOOKINGGLASS
THE SETUP
Good American has to consider how to build transparency across different categories of its business model to meet consumer needs. The brand will need to analyze and establish a system that allows consumers this degree of access. This will require financing of R&D to determine best practices and become a fast follower of trends.
SCENARIO|LOOKINGGLASS
H A V E W E G O N E M A D ?
RISING ACTION
R&D identifies blockchain as a solution for providing consumers with access to information that creates transparency regarding supply chain practices and can be easily accessed. Good American aims to identify how to build awareness and simplify the ease of use and access for all consumers.
SCENARIO|LOOKINGGLASS
TURNING POINT
The key to implementing blockchain is to have a keen awareness on the trends and identify the most strategic time to enter the market. R&D funding has been spent so that Good American can move as a fast follower to remain within the curve of introduction.
Resources and investments are tied up during the transitionary period whilst Good American maintains both systems, but the benefit of providing accessibility and transparency is seen as a long-term investment.
SCENARIO|LOOKINGGLASS
C H E S H I R E S M I L E
FALLING ACTION
Good American uses word of mouth ma engage with consumers and highlight th accessibility to information regarding the supply chain. It continues to imp accessibility in order to address capa different levels throughout its consumer-b This has positioned the brand to app growing group of conscious consumers deeply about brand transparency and sust
SCENARIO|LOOKINGGLASS
O F F W I T H T H E I R H E A D S
RESOLUTION
Good American positions itself as a leader in the fashion industry. It has improved the brand image and grown its share of market by providing consumers with transparency. Consumers are also pleased with the ease of accessibility the brand has created. Good American was able to introduce blockchain in a way that demonstrates its cautious innovation within the industry.
SCENARIO|LOOKINGGLASS
C H E S H I R E S M I L E
FALLING ACTION
A new generation of consumers dismisses su chain transparency. This new consumer group g preference to upcycled products as their wa prioritizing sustainability. Other cohorts begi adopt this mindset as awareness grows in rega upcycled products.
Good American, still in transition tow blockchain and using resources for R&D, not this preferential shift as it is happening.
SCENARIO|LOOKINGGLASS
O F F W I T H T H E I R H E A D S
RESOLUTION
Good American realizes that blockchain is still necessary and beneficial to the new consumer group and older cohorts that have shifted their preferences. It is able to adapt to advertise its recycling program to appeal to the new consumers while also implementing this information into the blockchain.
This attracts the new generation of consumers because the brand advertises these practices and the information is easily accessible to all consumer groups.
IMPLICATIONS&RESPONSE
SOCIALLISTENING
NEWGENERATION
FASTFOLLOWER
Blockchain adds a level of consumer data collection which assists brands which enhances their ability to determine trends and drive social strategies.
Corporate social responsibility can become compartmentalized by a new generation of consumers within each category to shift demand within the fashion industry.
Brands must dedicate financing to R&D to analyze and understand innovative techniques and consumer demands in order to maintain a strategic advantage.
E N Y E A R S 2 0 3 2
RESEARCH&ANALYSIS
F I F T E E N Y E A R S 2 0 3 7
STEEP|SOCIAL
Conscious Consumers
Millennials and GenZ make purchase decisions based on what a brand represents, or stands for, over price and popularity.
Brand Engagement
Consumers use social media to discover and connect with brands. Brand engagement will continue to be of increasing importance by allowing consumers to feel connected with the brand.
Athleisure Era
It is predicted that athleisure wear will become an era associated with the pandemic as people continue increasingly return to social life. Brands will need to follow trends closely to respond quickly to this shift in style.
STEEP|TECHNOLOGY
Data Reliance
Brands will be fully reliant on data for targeting consumers and demand planning as personalization continues to be a necessity. Brands will use data to create personal experiences and personalized product advertising.
Virtual Telepathy
Brain-computer interfaces are fully developed at this point which allows brands to collect data and preferences from consumers faster and more frequently than ever before.
Autonomous Labor
Manufacturing jobs will largely disappear due to robots, automation, and 3D printing which will be perfected by this point ultimately replacing human capital in the workforce.
STEEP|ECONOMIC
Shift in Demographics
Millennials will become the dominant population. They are more liberal than Boomers and have a tendency to support higher social spenders.
National Debt
The rise in national debt reduces government flexibility to address issues concerning climate change and shifts in demographics.
Global Trade
Technology advances e-commerce which helps to sustain global trade of the future. Meanwhile other global trade shifts as policies become more diversified and fragmented.
2 0
3 7
STEEP|ENVIRONMENTAL
Product Recovery
Manufacturers must identify ways to increasingly reduce waste and recover materials at the end of the product life cycle. The burden of product recovery falls on the producers.
Object Loyalty
Brand loyalty could be replaced by object loyalty as consumers become more conscious and hold on to products for longer. This will force brands to innovate ways to extend product life cycles by replacing only certain components of products.
Water Scarcity
Water scarcity competes with the public's attention carbon emissions receives as it becomes more prevalent. Manufacturers have been working to reduce water waste, but will need to continue to evolve efforts.
STEEP|POLITICAL
New World Order
The competition for military, geopolitical, technological, and economic between the US and China continues. A war between these two powers ca ruled out which causes companies to move manufacturing to closer proximities for vertical integration and just-in-time solutions due to the ec uncertainty surrounding these tensions.
Wealth Redistribution
The United States is under pressure to tax the wealthy as civil unrest co surrounding the emphasis of the divide between the rich and the poor. Th significantly impact brands who appeal to a wealthier class of Americans.
Domestic Polarization
Distrust in the government rises as social media platforms aim to supp freedom of speech and the government wants to curb the spread of misinfor Technology firms pushback against government policies that counter their b models and polarization increases.
FORCESMATRIX
CERTAIN
VISUALMATRIX
Wasted-CarrieUnderwood
IMPROVING
I'mStillStanding-EltonJohn
RECESSION
Rehab-Rihanna
ECONOMIC
Livin'OnAPrayer-BonJovi
DETERIORATING
CAUSALITYPLOT
Commit funding to R&D to implement a fully autonomous labor force. Replacing human capital must be done strategically so this is not an immediate process.
TURNING POINT
R&D shows that autonomous labor has been perfected for use within the fashion manufacturing industry.
RISINGACTION FALLINGACTION
SET UP
Brands must become innovative in production methods to compete within the fashion industry.
Autonomous labor improves efficiencies and removes human error factors within manufacturing elevating waste reduction and recycling.
RESOLUTION
The brand publicizes new recycling and waste reduction targets and gets positive accolades from industry which in turn grows share of market with GenZ and other cohorts.
CAUSALITYPLOT
Commit funding to R&D to implement a fully autonomous labor force. Replacing human capital must be done strategically so this is not an immediate process.
TURNING POINT
R&D shows that autonomous labor has been perfected for use within the fashion manufacturing industry.
RISINGACTION FALLINGACTION
SET UP
Brands must become innovative in production methods to compete within the fashion industry.
Autonomous labor replaces a human capital workforce and brands receive backlash from consumers for eliminating jobs.
The brand highlights the environmental benefits of autonomous labor while also creating new opportunities for a human workforce within the supply chain and technical positions which pleases consumers and elevates the brand image.
BLACK SWAN
SCENARIOPLOT
L I G H T N I N G C R A S H E S
THUNDER CHASING THE WIND
LIGHTNING CRASHES
CONFUSIONSETSIN
COMINGBACKAGAIN
MOMENT WE'VE BEEN WAITING FOR
SCENARIO|LIGHTNINGCRASHES
THE SETUP
Good American is looking for ways to improve efficiencies and cut costs within its manufacturing. As new technology develops, autonomous labor is becoming more prominent in the fashion industry as brands continue to look for ways to be on the cutting-edge of innovation. However, Good American chooses to use its financial capacity towards R&D to make observations of successes and failures with autonomous labor within the industry.
SCENARIO|LIGHTNINGCRASHES
RISING ACTION
The rise of autonomous labor has proven beneficial to the industry for reducing human error, increasing profit margins, and eliminating waste. Good American's R&D shows autonomous labor has been perfected within the fashion industry. Still, the brand must be strategic about the implementation of autonomy within its supply chain as this will reduce its human capital.
SCENARIO|LIGHTNINGCRASHES
T H U N D E R C H A S I N G T H E W I N D
TURNING POINT
Good American begins the rollout of autonomous labor. Mistakes were already realized throughout the R&D process and Good American is positioned to prevent these mistakes made by others within the industry. The brand will slowly introduce autonomous labor into its production process as not to produce a high number of layoffs at once. To begin, it will not replace laborers who reach retirement age.
Good American will aim to improve overall efficiencies while also maintaining its brand identity and core values. It will begin replacing production with autonomous labor in the areas where waste is high or labor conditions could be improved.
SCENARIO|LIGHTNINGCRASHES
FALLING ACTION
Autonomous labor has been implemented into the production cycle for Good American. Waste has been eliminated and efficiencies improved due to the removal of the human error factor. Good American has elevated its position and focus on environmental impact.
Throughout the rollout process Good American was also able to identify human labor positions it could create or maintain through the reduction of expenses associated with waste and additional wages.
SCENARIO|LIGHTNINGCRASHES
RESOLUTION
Good American can advertise its new recycling and waste reduction targets to consumer groups. This leads to an increase interest in the brand among Millennials and GenZs. The brand's adoption process receives accolades within the industry.
Other brands begin to adopt autonomous labor in a strategic manner that preserves some human capital and eliminates bottlenecks within the supply chain.
SCENARIO|LIGHTNINGCRASHES
C O M I N G B A C K A G A I N
FALLING ACTION
Consumer groups are dissatisfied with bra use autonomous labor for production due amount of unemployment created. The begin wreaking havoc on production and c by hacking into the autonomous system negatively impacts the brand image an standing of the company.
Good American pivots quickly and is mobilize some of the displaced workforc local community to restore production a corrective action to regain its brand image.
SCENARIO|LIGHTNINGCRASHES
RESOLUTION
Good American serves a conscious group of consumers. It will need to highlight the environmental benefits of autonomous labor and how these benefits align with the brand image. Good American will utilize its manually skilled labor force to develop a secondhand clothes regeneration program. This generates revenue and increases cash flow while creating another stream of sustainable clothing for consumers.
Good American publicizes this solution which is well received among consumers who are also trying to balance environmental and social responsibility.
IMPLICATIONS&RESPONSE
OBJECTLOYALTY
HUMANCAPITAL
CLOTHINGREGENERATION
Consumers will become loyal to products over brands, holding on to products longer. Autonomous labor will allow brands to adjust production cycles quickly and easily to meet demands.
Brand may face backlash for replacing its human workforce and it is advised that it do so strategically while looking for other opportunities to mobilize laborers. It should aim to balance environmental and social responsibility.
Second-hand clothing regeneration will also decrease demand for new products. A manual skilled labor force can be utilized to support this extension of the brand while autonomous labor cuts waste and production costs.
WORKSCITED
10 Sustainable Business Trends Shaping the Next Decade | Economic Journal. 28 Jan. 2020, https://www.economicjournal.co.uk/2020/01/10-sustainablebusiness-trends-shaping-the-next-decade/.
“10 Trends That Will Shape the Global Economy Over the Next Decade.” Investopedia, https://www.investopedia.com/the-10-trends-that-will-shape-the-globaleconomy-over-the-next-decade-4777822. Accessed 18 Oct. 2022.
2040 Future Timeline | Timeline | Technology | Singularity | 2020 | 2050 | 2100 | 2150 | 2200 | 21st Century | 22nd Century | 23rd Century | Humanity | Predictions | Events. https://www.futuretimeline.net/21stcentury/2040.htm. Accessed 13 Oct. 2022.
Aus, Reet, et al. “Designing for Circular Fashion: Integrating Upcycling into Conventional Garment Manufacturing Processes.” Fashion and Textiles, vol. 8, no. 1, Nov. 2021, p. 34. BioMed Central, https://doi.org/10.1186/s40691-021-00262-9.
Berg, Achim. Fashion Industry Challenges and Global Disruptions | McKinsey. https://www.mckinsey.com/industries/retail/our-insights/how-current-globaltrends-are-disrupting-the-fashion-industry. Accessed 7 Oct. 2022.
“Businesses and Gen Z Consumers | NCR Primer.” NCR, https://www.ncr.com/blogs/generation-z-characteristics-what-businesses-should-know-about-the-nextwave-of-consumers. Accessed 11 Apr. 2022.
Consumer Insight: Generation Z - FONA International.” FONA International | Flavor First, 7 May 2021, https://www.fona.com/0521genz/.
“Deglobalization Is Political, Not Economic.” Schwab Brokerage, https://www.schwab.com/learn/story/deglobalization-is-political-not-economic. Accessed 18 Oct. 2022.“
WORKSCITED
Geyser, Werner. “17 Social Media Trends for 2022 and Beyond.” Influencer Marketing Hub, 4 Nov. 2019, https://influencermarketinghub.com/social-mediatrends/.
Glavas, Ante. “Corporate Social Responsibility and Employee Engagement: Enabling Employees to Employ More of Their Whole Selves at Work.” Frontiers in Psychology, vol. 7, 2016. Frontiers, https://www.frontiersin.org/articles/10.3389/fpsyg.2016.00796.
“Global Trends 2040: A More Contested World.” A Publication of the National Intelligence Council, p. 156.
Knox, Bruce. Top 10 Future Of Fashion Trends Reshaping The Industry (In 2022). 22 Nov. 2021, https://thevou.com/fashion/future-of-fashion/.
Messieh, Nancy. “Welcome to 2030: Three Visions of What the World Could Look like in Ten Years.” Atlantic Council, 21 Dec. 2021, https://www.atlanticcouncil.org/content-series/atlantic-council-strategy-paper-series/welcome-to-2030-three-visions-of-what-the-world-could-look-like-in-tenyears/.
Perkovic, Mirjana. “Council Post: How NFTs Are Changing The Fashion And Art Landscapes.” Forbes, https://www.forbes.com/sites/forbesbusinesscouncil/2021/06/24/how-nfts-are-changing-the-fashion-and-art-landscapes/. Accessed 7 Oct. 2022.
Reichart, Elizabeth, and Deborah Drew. By the Numbers: The Economic, Social and Environmental Impacts of “Fast Fashion.” Jan. 2019. www.wri.org, https://www.wri.org/insights/numbers-economic-social-and-environmental-impacts-fast-fashion.
"Risk of Global Recession in 2023 Rises Amid Simultaneous Rate Hikes, World Bank.” World Bank, https://www.worldbank.org/en/news/pressrelease/2022/09/15/risk-of-global-recession-in-2023-rises-amid-simultaneous-rate-hikes. Accessed 22 Sept. 2022.
WORKSCITED
Terol Bernal, Gema. “The State of Fashion 2022 Report: 10 Trends That Will Shape the Fashion Industry.” BCome, 15 Dec. 2021, https://bcome.biz/blog/thestate-of-fashion-2022-report-10-trends-that-will-shape-the-fashion-industry/.
“The Future of Fashion: Technology & the Industry.” CB Insights Research, 22 Mar. 2022, https://www.cbinsights.com/research/fashion-tech-future-trends/. “The Macroenvironmental Factors Affecting the Clothing Industry.” Small Business - Chron.Com, https://smallbusiness.chron.com/macroenvironmental-factorsaffecting-clothing-industry-37254.html. Accessed 22 Sept. 2022.
The Next Decade: Five Trends in Product Sustainability | GreenBlue. https://greenblue.org/the-next-decade-five-trends-in-product-sustainability/. Accessed 18 Oct. 2022.
Vilaça, Julia. “The Constant Intersection Between Fashion & Politics.” Fashinnovation, 12 May 2022, https://fashinnovation.nyc/fashion-and-politics/.
Wade, W. (2012). Scenario Planning: A Field Guide to the Future. John Wiley & Sons, Inc.