Connecting pop culture, runway and lifestyle trends with data from Edited’s retail intelligence platform, three pivotal themes shaping retail’s future emerge. Here are insights into how brands can react to better serve consumers going forward. 1. Keeping up with micro trends Last year witnessed the clash of fashion narratives, with contradictory trends. The rise of ‘stealth wealth’ and ‘quiet luxury’ reflected the prevailing ‘buy less, buy better’ ethos amid economic uncertainty.
ainty. Simultaneously, Barbiemania kept maximalism and branding relevant in retail. This year, ‘quiet’ and ‘loud luxury’ will shape aesthetics, while trends will further fragment at a micro level, driven by TikTok.
The earliest batch of algorithm-generated trends in 2024 are unapologetically loud. The mob wife aesthetic, inspired by the femme fatales of The Sopranos, Casino, and Scarface, has amassed over 150 million TikTok views. Supporting this narrative, Edited saw arrivals of faux fur coats in FW23 increase by five percent, year over year. A return to animal print is imminent, with new styles selling out five days faster than they did last year. Similarly, the emergence of the eclectic grandpa style suggests consumers’longing to keep a personal style in a time of archetypal dressing and micro trends, while still participating in viral aesthetics.
Despite this shift in consumer tastes, demand for timeless, classic pieces, which have proved lucrative with consumers’ tightened disposable income, will remain steadfast. Edited observed a six percent increase from 2022 to last year in wool coats and premium knitwear styles selling out online across theUS and UK. Sales of silk blouses jumped four percent, while mass market retailers favored premium leathers, with faux leather styles having dropped 25 percent.
Recommendations for retailers
As fresh micro-aesthetics continue to emerge at hyper-speed, most retailers don’t have the infrastructure to deliver new products before the consumer has moved on to the next viral sensation. For brands to be reactive, they must be creative and flexible in repositioning existing styles within marketing and social media campaigns.
This approach increases the exposure of older products, lengthening their selling period before transitioning into new season assortments. For instance, mentions of ‘fur’ in US retailers’ email communications typically trail off in January as spring collections are promoted. However, in 2024, January mentions increased by 11 percent, year on year, as brands continued to push outerwear alongside FW23 hits like red and leather to create product edits that fit the mob wife narrative.
The runway still plays a pivotal role in informing a trend’s status in future collections. Minimalism willpersist with soft tailoring, overcoats, and layered knitted textures built on neutral and grey palettes, as presented in Fall 2024 collections. In contrast, leopard print was featured prominently at Ganni, Blumarine and Ermanno Scervino, and, coupled with the previously mentioned rising consumerdemand, it stands out as a low-risk buy into upcoming assortments. While TikTok may retire ‘mob wife’ and ‘quiet luxury’ labels when FW24 collections land, brands monitoring the app remain better positioned to understand the lexicon to market these products.
This return to maximalism is not exclusive to fashion. Homeware retailers can also play into the hype.Thick candy stripes represent 10 percent of soft furnishings online in the US, as noted at Marks & Spencer and Bed Bath & Beyond. At the same time, cult brands stocked at Glassette have favored brightly painted checkerboards across glass and dinnerware, indicating retailers in this market are well-positioned to promote an antithesis to minimalism through these items.
Quiet Luxury has transcended wardrobes as high-quality, high-cost products, such as Le Creuset cookware and NuFace skincare have been crowned the new status symbols on TikTok. Third-party retailers can increase their investment and exposure of these brands to cater to consumer demand, as seen with sales of Augustinus Bader skincare rising by 32 percent at Bergdorf Goodman, 20 percent at Sephora and 17 percent at Bloomingdales.
2. Sports and consumer goods intersect
From athletes sitting front row at runway shows to the growing popularity of the British soccer-inspired Blokecore trend, sportswear’s place in high fashion has been solidified. This year, this relationship will intensify, particularly with the Summer Olympic Games spotlighting luxury labels affiliated with main sponsor LVMH.
Adding momentum to the impact of sports on consumer goods, retailers have capitalized on the rising sartorial influence of Kansas City Chiefs football player Travis Kelce. Edited data shows online sellouts of the athlete’s merchandise spiked 138 percent in September 2023 versus the previous month, after news spread of Kelce’s relationship with Taylor Swift. Since the reveal, retailers have flooded the market with number 87 jerseys to appeal to a powerful and profitable new demographic – Swifties. The number of new Kelce products online grew 169 percent in Q4 from Q3 2023, while there were more items stocked this January, compared with the previous six months – figures that only ballooned as the KansasCity Chiefs took the field in this year’s Super Bowl with Swift in attendance.
Recommendations for retailers
The Taylor Swift economy has created opportunities to sell NFL merchandise outside the football season. As Eras continues globally, retailers can harness the power of ‘tourdrobe’ dressing, positioning red jerseys alongside Western trends and sequins for concert-goers.
As all eyes turn to Paris for the Olympics, the city’s Fashion Weeks in February and March are expected to be an optimal time for marketing and brand activations of sportswear-adjacent products to target premium shoppers. Retailers should collaborate with active brands or athletes, such as Nike x Martine Rose and Lionel Messi x Adidas. Such partnerships allow retailers across all categories to tap into the lucrative sports market and expand their audience reach.
Market research firm Aytm reports that 39 percent of Gen Z believe highlighting the athletesand their stories is a key factor in making Olympic advertisements stand out, which retailers shouldconsider when marketing to this cohort. LVMH has taken this approach, introducing professionalwheelchair tennis player Pauline Déroulède as an ambassador for Dior and Enzo Lefort for Louis Vuitton.
Sporting influences will be a core trend for future product assortments, even outside dedicated activewear brands. Across the men’s FW23 runway circuit, football jerseys, rugby shirts, tracksuits and branding were spearheaded by Louis Vuitton, Botter, and KidSuper Studios, confirming their status for mass-market retailers looking to invest in upcoming ranges.
The sportswear takeover has been emphasized further by fitness brands expanding their offerings to tap into the $450 billion US wellness market. Active retailers should take cues from Alo Yoga,which provides access to self-care videos within its membership. Brands looking to enter the beautyand wellness space through fitness should explore products containing Vitamin C and magnesium, found in Sporty & Rich’s beauty range, which offer protection against sun damage and ease muscle tension after workouts.
3. Future-proofing supply chains and assortments
Just when supply chains had regained some sense of normalcy after pandemic-related bottlenecks, the attacks on cargo ships in the Red Sea raised fears of disruption to global trade. Retailers have scrambled for air or rail alternatives to transport spring collections ahead of Lunar New Year factory closures. The Red Sea represents the main shipping passage from Asia to Europe and an important one for US East Coast deliveries.
Re-routing around southern Africa adds one million in fuel costs and about 10 days to the journey.January deliveries in the US seemed unaffected, with Edited finding online arrivals relatively on par with last year’s, dropping only by six percent. However, product arrivals and pricing fluctuations are expected later in the quarter, highlighting the need for nearshoring. The ongoing climate crisis has also exposed the vulnerabilities of supply chains as global warming ramped up extreme weather events last year, including historic droughts in the Panama Canal, wildfires in Canada, and storm Ciarán flooding Italy, raising alarm bells for luxury fashion, which relies on the region for raw materials and manufacturing.
Recommendations for retailers
To mitigate weather-related risks on supply chains, retailers should explore risk-management tools with AI capabilities to scan news sources 24/7 for climate events. This would allow them to respond to threats in real-time, find alternative means of transportation, delay marketing campaigns, reposition older stock, or add temporary buffers to inventory ahead of extreme weather conditions.
Hotter temperatures and heightened pollution have increased demand for protective apparel and beauty, highlighting an untapped market for retailers to explore. In the next seven years, the global market for skincare with anti-pollution properties is expected to reach $1.4 billion and the US Ultraviolet Protection Factor (UPF) sun-protective clothing market will reach $1.27 billion. Mass market UPF clothing is primarily limited to activewear and swimwear – the latter accounts for 44 percent and 78 percent of adults’ and children’s assortments, respectively.
Retailers may need to rethink their seasonal phasing because delivering summer or winter products amid inappropriate weather conditions could harm profit margins. Edited’s data supports retailers’ strategies, helping them understand the phasing of arrivals, discounts and sellouts across competitors and the broader market of seasonal categories (such as outerwear and swimwear). Forinstance, puffer jacket arrivals peaked in week 46 of November 2022, two weeks before Black Friday. Retailers could land stock earlier in October to maximize full-price sales and capitalize on potential cold snaps in December to target festive shoppers.
This story first appeared in the March 2024 issue of Inside Retail US magazine.