The world is changing. Can fashion keep up?
6/11/202625 min
Affordable luxury: It may sound like an oxymoron, but in an uncertain economy, it’s striking a chord with cautious consumers looking for value—and expecting more from the brands they buy. “Brands are actively thinking about the fact that people are shifting their spending,” according to McKinsey Senior Partner Gemma D’Auria. “If they want to stay relevant, they need to meet their customers where they are.” In this episode of The McKinsey Podcast, D’Auria and McKinsey Senior Partner Holger Harreis speak with Global Editorial Director Lucia Rahilly about , including what consumers want, where they’re finding it, and how fashion executives can use AI to enhance creativity, competitiveness, and the customer experience overall.
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First 90 secondsGemma D'Auría· Guest0:00
[upbeat music] For me, there is a real question around how are you going to capitalize on AI and how it is changing your customer journey and when? Because what we see, sadly, in the industry is a lot of pilots and a lot of nice experiments. We do not see a lot of true rewiring of the organization, particularly in domains that I think are extremely strategic, like clienteling or supply chain.
Lucia Rahilly· Host0:25
That's McKinsey senior partner, Gemma D'Auría. This June, runways in the fashion capitals like Milan and Paris are teeming with upcoming trends, and according to our latest research, a lot of folks are actually using AI now to shop. So what can brands do to make the most of this growing AI adoption? Gemma joins me and McKinsey senior partner Holger Harris to share what matters most to fashion consumers and how they're using AI to get it. [upbeat music] This is "The McKinsey Podcast," where we help you make sense out of the world's toughest business challenges. I'm your host for today, Lucia Rahilly. Gemma, welcome back. Great to have you.
Gemma D'Auría· Guest1:15
Thank you. Nice to see you, Lucia. How are you?
Lucia Rahilly· Host1:18
I'm very well. You, Gemma, are based in Milan, which is arguably the world's fashion capital.
Gemma D'Auría· Guest1:25
Yes, it is.
Lucia Rahilly· Host1:26
[chuckles] Paris and New York might beg to differ, but- But they're not