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As fashion and luxury look to the year ahead, big questions regarding customer confidence and appetite to spend are front of mind for industry executives — cited as the biggest risk to growth globally in 2025 by fashion executives surveyed for The Business of Fashion and McKinsey & Co.’s The State of Fashion 2025 report.
Indeed, shoppers across income levels are trading down on purchases, while dissatisfaction across the shopping journey remains high. Baymard Institute, a research and…
