he fashion industry is guided, nowadays, by an openness to new markets and segments and, most of all, by the existence of ecosystems that spawn new ways to manage, to create value and to dialogue.

Globally we are witnessing a growingly competitive universe, with new players surfacing every day and where power is given to a ‘new consumer’ with very particular traits, different from the previous generations. The big game-changer of the times we live in is, perhaps, the notion that this consumer is, above all, an entity that generates value for the companies it interacts with.

The big drivers of this change are based upon three key factors: behavioural changes, growing technological innovation and social changes. These changes gave way to disruptive business models, and “future proof” most of all – ready for new contexts and realities.

In regard to the behavioural changes, we can highlight growing expectations as well as a deepening interaction in the various processes, from conception to brand advertisement and preferred products.

We live a culture of immediacy, where the consumer is more impatient, which implies that brands work with shorter timings (be it design, production or distribution). If, in 1995, the average consumer considered waiting roughly nine days for the delivery of an Amazon product, in 2018 that time has been brought down to a measly 24 hours. These soaring expectations of quality and service speed are transmitted down to every sector and segment of business.

This impatience is also manifested in the novelty and anticipation culture, rooted in new ways of distributing and communicating – case of the “drop” culture, ranging from street wear to luxury brands.

The growing rate of technological innovations and the adoption of disruptive tools have been changing the fashion industry dynamics. It’s necessary to understand the changes that these technologies bring forth, and what they enable us to achieve. Technology opens countless possibilities to customize the shopping experience and accelerates the ability to provide a more personalized service and communication.

Within social changes, we can include aspects related to environmental concerns, such as social responsibility and sustainability, the increasingly unstable political situation worldwide, and also issues connected with human resources and new ways of working.

However, the most prominent factors are, undoubtedly, ethical concerns and sustainability.

The growing transparency is a decisive factor in this change. In an industry that always insisted on being secretive, it is refreshing to see brands advertising the margins reflected in the final price, as well as publishing information about its suppliers.

Ethics and sustainability are an essential part of the new consumer mindset, where the respect for the people and the planet is as important as the brand’s aesthetics.

We need innovative and groundbreaking solutions, business models that focus not only on financial sustainability, but also the search for relevance, for a social purpose.

The brands that carry the most potential for success are the ones that aren’t afraid to innovate, to become disruptive, to question. That is, those who adopt new skills and knowledge that allows them to be ready for a new era of consumption where transparency is king.