Years of research on transformations has shown that the success rate for these efforts is consistently low: less than 30 percent succeed. Video . In other words, the fashion industry will become a net-positive contributor to the environment and play a crucial role in the transformation of our society into a circular way of living. Ari Libarikian: In this era, customers are expecting more and more technologically enabled services. A digital and analytics transformation is typically an 18- to 24-month journey, requiring an ambitious aspiration, a clear plan, and concrete milestones. It is time for retailers to advance by using new digital tools and analytics software or … Most transformations fail. Laut McKinsey Studie „State of Fashion 2019“ ist nun Zeit für Aufbruch. In Deutschland wird der Rückgang der Arbeitszeit, die auf den Einsatz händi­scher Fähig­keiten entfällt, mit minus 22% bis 2030 noch deutlicher sein als in anderen Ländern. Die Unternehmenskultur spielt die größte Rolle bei der digitalen Transformation. May 22, 2020With their customers increasingly online, fashion companies need to engage them with authentic messages over email, social media, and other digital channels—even while most people aren’t currently spending. H &M Group, the world’s second-largest clothing retailer, is betting that people will choose and buy clothes differently from the way they have in the past—and it sees itself as a potential catalyst for that change. For example, the fashion industry could champion regenerative farming and spearhead systemic changes within farming as a whole. Unsere weltweit etablierte Präsenz sowie unser umfassendes globales und lokales Netzwerk aus Branchenexperten sind dabei einzigartig. Subscribed to {PRACTICE_NAME} email alerts. Vanessa Rothschild: Within H&M Group’s Global Sustainability Department, we’ve been working a lot on integrating sustainability into the business. One more question: What are your boldest predictions about the next decade in sustainable fashion? H&M Group, and the fashion industry as a whole, has for many years excelled at making fashion desirable and attractive. Use minimal essential We use cookies essential for this site to function well. Please use UP and DOWN arrow keys to review autocomplete results. What does it mean? Flip the odds. Our flagship business publication has been defining and informing the senior-management agenda since 1964. To read the article, see “Fashion’s digital transformation: Now or never,” May 6, 2020. Das McKinsey Digital Lab in Berlin sowie acht weitere Digital Labs weltweit sind spezialisierte Kompetenzzentren, die Strategieberatung mit Design-, Agile- und Technologieexpertise vereinen. Part of our role is to find the convergence between the digital shift and the circular shift—to make them come together so that it becomes very, very easy for the customer to adopt new ways of behaving and of using fashion. Please email us at: McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android device. This interview was conducted by Karl-Hendrik Magnus, a senior partner in McKinsey’s Frankfurt office, and Monica Toriello, an executive editor in the New York office. Consumer demand for comfort, in every sense of the word, is growing: both comfort in terms of styles and fashion trends, but also comfort and convenience in customer interactions. James recently discussed the ingredients of a successful digital transformation with McKinsey’s Barr Seitz. Das McKinsey 3 Horizon Modell. McKinsey: To that end, what are some of the most innovative or highest-impact circular initiatives at H&M right now? We strive to provide individuals with disabilities equal access to our website. Second, it will be a much more cocreated market. How are you? Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. We as consumers would own a very small percentage of our wardrobe; the majority of our clothing will be shared. Eine Zeit, in der sich Mode-Unternehmen nicht nur mit den Herausforderungen befassen, sondern sich auch mit … What are your primary responsibilities? According to a study, digital transformation deals have jumped 30%, cloud expenditure has gone up 80%, while customer experience has improved 15% since the Covid-19 outbreak. Hey, Ari. Anyone interested in the subject would be wise to listen to their advice. The “development” part means that my team works on raising awareness of circular business models and setting up the ambition so that we can drive those business models into the core of H&M Group’s business in a strategic and truly integrated way. Today, just 26 percent of respondents […] If you would like information about this content we will be happy to work with you. Never miss an insight. In surveys, about 80 percent of consumers tell us that they are shifting toward more casual wear, street wear, and loungewear; office wear is declining. McKinsey is a thought leader when it comes to digital transformation. Mehr als 1.000 Digitalisierungsexperten arbeiten Digital Labs und unterstützen unsere Klienten in der digitalen Transformation der Grundlagen, des Kerngeschäftes und auch beim Aufbau neuer Geschäfte. Reinvent your business. Achim Berg ist Leiter der globalen Apparel, Fashion and Luxury Practice von McKinsey. McKinsey weist erneut darauf hin, dass nur ein kleiner Teil der Transformationsprojekte, im McKinsey Sinn die etwas weiter gefaßt die Änderung von Geschäftsprozessen aller Art, von Erfolg gekrönt sind. One concrete example is the Looop, our garment-to-garment recycling machine, which is now in one of our Stockholm stores. Vanessa Rothschild: I see three main parts making up a circular ecosystem within the fashion industry: circular supply chains, circular products, and circular customer journeys. McKinsey: What does that look like a decade from now? We'll email you when new articles are published on this topic. Digital transformation as a Trojan horse. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. Never miss an insight. How do you see the fashion retail landscape evolving between now and 2030, and what role will sustainability play in that landscape? Today, as H&M Group’s global sustainability steering and development manager, Rothschild and her colleagues work to define and achieve the company’s sustainability goals, which include using only sustainable materials by 2030 and having a “climate positive” value chain—one that reduces more greenhouse gases than it emits—by 2040. tab. McKinsey’s Apparel, Fashion & Luxury Group in Europe conducted a virtual roundtable discussion with European-based executives at leading digital fashion-related companies about their experience managing operations under lockdown. Learn about For example, the fashion industry could champion regenerative farming and spearhead systemic changes within farming as a whole. My definition of circular fashion is an industry in which resources and products stay in use for as long as possible before being recycled or regenerated into new products, again and again. McKinsey investiert ständig in den weiteren Aufbau von Wissen in den Themen, die für die Branche von entscheidender Bedeutung sind. The following are edited excerpts of the conversation. Digital enablers will make it much simpler for garments to flow through circular business models such as resale, rental, and repair. Over a three-month period, US e-retail grew as much as it had in the past decade. So says Vanessa Rothschild, who has helped lead the company’s sustainability efforts for more than four years. We have had the power to create desire; I think we also have the power to create meaning and well-being. People create and sustain change. hereLearn more about cookies, Opens in new Product ID is an important enabling technology that will take us very, very far, both in terms of consumer behavior—because it will make it simple for consumers to swap, share, and show garments—and in terms of impact follow-up. Foto: McKinsey. Damit eignet es sich hervorragend, um die digitale Transformation deines Unternehmens zu planen. The panelists included Maximilian Bittner, chief executive officer of Vestiaire Collective; Stefan Edl, head of Trans/formational Retail & Fashion DACH at Facebook; Boris Ewenstein, … Companies in the industry will need to support one another. McKinsey: Has the COVID-19 pandemic changed the way H&M thinks about those initiatives? Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more, Learn what it means for you, and meet the people who create it, Inspire, empower, and sustain action that leads to the economic development of Black communities across the globe. The casual workweek is here to stay. In our 2016 survey, the rate of success was 20 percent; in 2014, 26 percent; a… Most of the changes we’re seeing right now are major transformations; they are new lifestyle behaviors rather than just short-term trends in the market. Our flagship business publication has been defining and informing the senior-management agenda since 1964. cookies. Please try again later. tab, Engineering, Construction & Building Materials, Travel, Logistics & Transport Infrastructure, McKinsey Institute for Black Economic Mobility. Wie die Antworten der gut 2.100 befragten Entscheider zeigen, spielen technische und finanzielle Faktoren eine geringere Rolle. Another bold prediction: through increased focus on environmental issues beyond climate change—biodiversity, for one—the fashion industry will become a force for change in other industries. Third, partnerships will be even more important in 2030 than they are today. There are exciting innovations within each of those parts. People create and sustain change. The sharing and resale market will become an even bigger business than the retail market. hereLearn more about cookies, Opens in new Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. — A central team to monitor value capture. Doing business in this way, coming up with all of those innovations, requires diversity of thought. tab, Engineering, Construction & Building Materials, Travel, Logistics & Transport Infrastructure, McKinsey Institute for Black Economic Mobility. our use of cookies, and tab. Michael Krigsman: What's the next step beyond digital transformation? Overcoming pandemic fatigue: How to reenergize organizations for the long run, What’s next for remote work: An analysis of 2,000 tasks, 800 jobs, and nine countries, The future of fashion: Sustainable brands and ‘circular’ business models. The industry is moving to digitally transform along with the rest of the world. Another example of material innovation and recycling technology is Renewcell, which is a company that H&M Group has invested in. Vanessa Rothschild: By 2030, it might be possible to make new products out of postconsumer waste—and maybe even out of carbon emissions! Subscribed to {PRACTICE_NAME} email alerts. The present working paper summarizes selected findings of the macro-economic simulations conducted as part of the study "Shaping the digital transformation in Europe", which assess the potential impact of disruptive digital technologies on the economy and society in the EU and its member states. There have certainly been shifts in consumer behavior over the past several months: people doing much more of their shopping online, buying more loungewear and less office wear, and so on. Learn more about cookies, Opens in new We'll email you when new articles are published on this topic. Rothschild spoke with McKinsey’s Karl-Hendrik Magnus and Monica Toriello about the future of sustainable fashion. In fact, not only does it touch everyone, but it would be the world’s seventh-largest economy if ranked alongside individual countries’ GDP. For example, algorithmic commerce, or using AI to understand consumer needs in order to produce only the right products in the right amounts and allocate them to the right place, will take us far. Die Studie “State of Fashion 2019” von The Business of Fashion und McKinsey & Company: 20 börsennotierte Modeunternehmen dominieren mit der größten Wertschöpfung die Branche – 10 Trends – von grundlegenden Veränderungen im Verbraucherverhalten bis hin zu einer fundamentalen Transformation des Fashion-Systems – werden die Mode-Branche im Jahr 2019 prägen – China … Please click "Accept" to help us improve its usefulness with additional cookies. McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android device. Michael Krigsman: I'm excellent. It might be possible to make new products without using any new natural resources at all. But the really exciting part is when we start to scale these business models, and when we decouple business growth from resource use. Die techno­lo­gi­schen Fähig­keiten der Arbeiter in Deutschland sind im inter­na­tio­nalen Vergleich schon heute vergleichs­weise hoch: Deutschland liegt gegen­wärtig mit einem Anteil von 14% der Arbeits… Digital communication with customers is key to fashion companies’ survival COVID-19 Digital Retail May 22, 2020 With their customers increasingly online, fashion companies need to engage them with authentic messages over email, social media, and other digital channels—even while most people aren’t currently spending. Vier von fünf Verbrauchern (80%) in Deutschland, Spanien, Frankreich und UK glauben, dass ihre finanzielle Situation für mehr als zwei Monate beeinträchtigt wird, 38% von ihnen planen ihre Haushaltsausgaben zu kürzen. By. McKinsey: Your job title is quite long. Vanessa Rothschild is the global sustainability steering and development manager at H&M Group. Please try again later. “Investment is likely to result in lower profits for a while,” the authors added, “but without it there is a serious risk to profits in the longer term. Press enter to select and open the results on a new page. Global Digital Transformation in Fashion Market Research Report 2020 carries in-depth case studies on the various countries which are involved in the Digital Transformation in Fashion market. The… Vanessa Rothschild: I think we can play a central role in both of those. Grund dafür ist, dass Stellen im verar­bei­tenden Gewerbe immer weniger physische Kraft und händi­sches Steuern von Maschinen erfordern. our use of cookies, and Learn more about cookies, Opens in new collaboration with select social media and trusted analytics partners The European fashion industry registered the equivalent of six years’ growth in online shopping penetration from January 2020 to August 2020. Here is a summary of some of their most important advice around this topic: Digital transformation is a Trojan horse. Das sind Erkenntnisse aus dem Coronavirus-Update zum „State of Fashion 2020“-Report. In other words, the fashion industry will become a net-positive contributor to the environment and play a crucial role in the transformation of our society into a circular way of living. Bereits im April dieses Jahres erschienen, aber eben erst in der Leseliste aufgetaucht: der McKinsey Report zum Thema Digital Transformation. In addition, consumers are making more conscious choices about what they wear, and that’s where we see them starting to embrace circular business models. Digital upends old models. One example McKinsey pointed to as proof of this is European insurer Axa, which invested €950 million in digital transformation over just two years. McKinsey: Thanks for speaking with us today, Vanessa. Select topics and stay current with our latest insights, For H&M, the future of fashion is both ‘circular’ and digital. Digital upends old models. Consumers are also expecting comfortable, friction-free shopping. collaboration with select social media and trusted analytics partners cookies, Back to Charting the path to the next normal, McKinsey_Website_Accessibility@mckinsey.com, Fashion’s digital transformation: Now or never. Reinvent your business. McKinsey Global Institute. Press enter to select and open the results on a new page. We use cookies essential for this site to function well. Imagine if we could then take those innovations and circular business models to scale. Our flagship business publication has been defining and informing the senior-management agenda since 1964. At H&M Group, we’re testing circular models through a variety of initiatives such as COS Resell, a digital space for buying and selling preowned items. Fashion is one of the past decade’s rare economic success stories. Unleash their potential. By 2030, these initiatives won’t just be scattered, sporadic initiatives. Sie müssen sich auf neue Fashion-Trends, Kunden-Erwartungen und digitale Veränderungen in der Mode-Branche einstellen. We're speaking with Ari Libarikian who is a senior partner with McKinsey& Company. Mode-Unternehmen müssen sich 2019 in einem schwierigen wirtschaftlichen Umfeld bewähren. Vanessa Rothschild: I believe the pandemic will have a transformative impact on society; the economic, social, and psychological effects will be felt for generations. Das sind Ergebnisse der Studie „Fashion’s new must-have: sustainable sourcing at scale“, für die McKinsey 64 Chief Purchasing Officers (CPO) befragt hat, die insgesamt mehr als 100 Milliarden US-Dollar Beschaffungswert verantworten. Today, we have the same kind of responsibility, and also the opportunity, to make “circular fashion” just as attractive or even more attractive. The growth in online shopping, as you said, has sped up. Digital Transformation: McKinsey’s Take. Vanessa Rothschild: First and foremost, fashion retail will be a very scrutinized market: consumers, stakeholders, and companies themselves will have much higher demands for transparency. Artificial intelligence (AI) and 3-D technologies are helping us take huge leaps in that area. In diesem Beitrag stelle ich das McKinsey 3 Horizon Framework vor und zeige Dir, wie Du die drei Horizonte für deine Digitalstrategie und dein Innovationsmanagement einsetzt. Fashion’s digital transformation: Now or never 7 —A focus on getting to a minimum viable product (MVP) within two to three months— a rapid timeline that allows the company to iterate while generating value, avoiding large up-front investments. Das Framework wurde 1999 in “The Alchemy of Growth” vorgestellt. Learn about Digital refashioned: Why post Covid-19 digital transformation will be a gift to fashion brands and their customers. For many large organizations, it's building a new business within the established company. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. The report is segmented according to usage wherever applicable and the report offers all this information for all major countries and associations. McKinsey Quarterly. Customers will work together with companies to create both supply and demand, and there will be bigger multibrand platforms interacting with one another. Consumers can see an old garment turned into a new one right before their eyes. Something went wrong. Ari Libarikian: I'm good, Michael. The “steering” part of my job means my team works on steering mechanisms that help make sustainability a natural part of our everyday decisions: what we are being measured on, our KPIs, and so on. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. What will it take to shift consumer perception? Jessica Murphy-22nd May 2020 . 22. And how do you see those initiatives evolving over the next ten years? Something went wrong. And, more important, what will it take to shift consumer behavior? In den letzten 15 Jahren hat er zahlreiche führende Marken, Produzenten, Einzel- und Großhändler weltweit zu unterschiedlichsten Themen beraten: So führte er u.a. Please click "Accept" to help us improve its usefulness with additional cookies. One way H&M Group is already doing that today is through Treadler, a B2B service that allows other companies to benefit from the knowledge, experience, local presence, and sustainability expertise of H&M Group’s supply chain. We define a successful transformation as one that, according to respondents, was very or completely successful at both improving performance and equipping the organization to sustain improvements over time. But we’re now at a point where we are at least past the shock phase and can start planning for the future. Use minimal essential Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more, Learn what it means for you, and meet the people who create it, Inspire, empower, and sustain action that leads to the economic development of Black communities across the globe. In our experience, successful digital and analytics transformations have the following elements in common: Strong support (or even direct sponsorship) from the CEO during the entire journey. Most transformations fail. McKinsey: That sounds like a difficult job—particularly because, in many parts of the world, H&M is still associated with fast fashion rather than sustainable fashion. Unleash their potential. McKinsey’s report for fashion retailers is a strong reminder to the retail industry that the challenges which they were confronted with during the peak of the Covid-19 pandemic were not a result of the pandemic, and as such, are not going away. Renewcell is developing a new material called Circulose, made by gently recovering cotton from worn-out clothes. As retail reopens, it is pretty clear that brands will have to manage new types of customer behaviours. 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. For circular supply chains, at the most basic level we need to produce only what we can sell; we need to adjust supply and demand. How are you? Flip the odds. Future winners will be companies that can problem-solve for customers and create long-term relationships with customers—companies that provide solutions and services, not just products. A concept that I believe has amazing potential is embedding technology into the products themselves: How can we use on-product technology to enable a digital wardrobe? We're talking about digital business. How do you foresee consumer apparel-shopping preferences changing postpandemic and over the longer term, and what will that mean for circular business models? Fashion’s next normal will be “ownershift” rather than “ownership.”. Select topics and stay current with our latest insights. Please use UP and DOWN arrow keys to review autocomplete results. The company, which operates some 5,000 stores in 70-plus countries, believes it has both the responsibility and a tremendous opportunity to change consumer behavior. Seine ganze Leidenschaft gilt der Fashion- und Luxusgüterbranche und in beiden Bereichen bringt er umfassende Expertise mit. When it comes to circular products, there are a lot of super interesting things happening in material innovation. I think the big winners in the future will be those fashion players that can embrace circularity and digitization at the same time. They’ll become interconnected initiatives that form the core of our business. So inclusion and diversity are crucial preconditions for all of this to happen. What is a digital business? Just 26 percent of respondents [ … ] die Unternehmenskultur spielt die größte Rolle bei digitalen... 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