Boston Consulting Group news and archive

Report: Retail innovation for a competitive advantage

Today, consumers are used to making online purchases with a single click, whether it be via a social media channel, an app, or a store platform. They expect to receive online deliveries in 30 minutes or less and shop in virtual stores in the metaverse. Rather than physically trying on clothes, they use augmented reality smart mirrors from the...

BusinessFeatured

Agile supply chains: Shein, BCG and GoodOps discuss challenges and opportunities

As the fashion industry continues to grapple with the far-reaching impacts of the pandemic and new global challenges, it has become clear that the ability to swiftly respond to changes in the supply chain is a defining factor for companies to achieve success. Industry stakeholders from ultra-fast fashion player Shein, sustainability strategy and...

BusinessFeatured

Retailers not on track to meet sustainability targets

A new report states that the retail industry must “work harder and faster” to make a meaningful impact to deliver on climate change commitments. Research from Boston Consulting Group (BCG) in partnership with the World Retail Congress, found that less than 20 percent of major retailers are on track to hit the Paris Agreement climate targets. The...

Retail

Sustainably-minded shoppers driving resale market growth

As consumers increasingly seek sustainable products, new research reveals that 69 percent of shoppers are now willing to purchase more secondhand pieces in the future and that consumers’ wardrobes will increasingly comprise secondhand clothing, from 21 percent in 2020 to 27 percent in 2023. That’s according to Vestiaire Collective and the Boston...

Fashion Featured

Sustainability progress “has slowed” reveals new data

According to new data from the Global Fashion Agenda (GFA), Boston Consulting Group (BCG) and Sustainable Apparel Coalition (SAC), the pace of sustainability progress in the fashion industry has “slowed” by a third in the past year and is not moving “fast enough to counterbalance the harmful impact of the fashion industry's rapid growth”. The...

RetailFeatured

Fashion brands must improve digital marketing as online shopping grows

Consumers are growing more and more accustomed to buying clothes online, so much so that the share of e-commerce sales is set to grow from 20 percent today to 25 percent by 2020, according to a joint study by international marketplace Zalando and consultancy firm Boston Consulting Group (BCG). In this scenario, it is crucial for fashion brands...

RetailFeatured

Half of global luxury shoppers buy at discount

Half of global luxury shoppers are partial to a bargain. According to the YouGov Affluent Perspective’s Global Luxury Retail Report 2018, half of all global luxury shoppers state they “only buy luxury when it is discounted.” The report, which focuses on the 56 percent of global affluents shoppers who purchase luxury products and services across...

Business|STUDY Featured

Luxury brands must become digital or risk ‘dying out’

London - Luxury brands which fail to evolve their digital front risk getting left behind as digital is the "inevitable, inescapable business shift of the future." Although some companies, such as LVMH, are beginning to invest in the digital domain, being digital means so much more than just ecommerce, and luxury labels who refuse to do so will...