HOMI Fashion&Jewels Exhibition reaffirms its role as a reference point for the fashion system, in an economic context with lower growth rates compared to the previous year due to hyperinflation, increases in raw materials and energy.
According to data provided by Export Planning, Italy's domestic demand for products of the Fashion&Jewels chain, measured in terms of apparent consumption, shows an increase of 18 percentage points over 2021 and about 34 percentage points above 2019 levels. Although at a slower growth rate due to increases in raw materials and energy, the sector is still growing.
In particular, the turnover of the textile-fashion-accessories (TMA) sector for 2022 is +16% compared to 2021 (National Chamber of Fashion via Sole24Ore), the highest level in the last 20 years.
The importance of sustainability
As industry continues to grapple with its damaging environmental and social impact, consumers will be increasingly attentive to how brands communicate their sustainability credentials. To avoid greenwashing, companies will have to increasingly demonstrate that they are making significant and credible changes while complying with emerging regulatory requirements. In other words, consumers expect companies to do good in the world, despite the cost-of-living crisis.
Fashion and technology
Fashion, beauty and retail will be increasingly technology-driven. 2022 was the year of the metaverse and brands are rushing to get into the game: "Companies will need to embrace creative campaigns and new channels, such as retail media networks and the metaverse, to achieve a higher ROI on marketing spend and gather valuable data that can be harnessed to deepen client relationships" (The State of Fashion 2023, Mckinsey report on fashion: predictions 2023).
Homi Fashion&Jewels Exhibition, the event dedicated to fashion accessories, apparel and jewellery from 17 to 20 February 2023 at fieramilano (Rho)