A recent conference series staged by WGSN, and supported by Ragtrader, gathered senior executives to discuss the domestic fashion market. Here are four insights which echo predictions in the sector.
Online retail is set to escalate
Prior to taking on a senior position with Target Australia, Gillian-Ridley Whittle was an executive at Marks & Spencer for ten years. Whittle sees many similarities between the domestic and UK market, in particular the brewing e-commerce storm. "The three years prior to the time I left, online shopping grew from around 3% of the mix to about 15% of the mix. I think that rapid change is coming here. I think the online channel will be worth 15% here in two or three years. It's a massive shift."
Australian designers are in demand
Marcs creative director Nadia Jones, a recent newcomer from UK giant Oasis, has joined a chorus of industry influencers who believe this year will see a major push for homegrown designers. "I've only been here for seven months and the thing that really excites me about Australia is the world has become very global. Most brands are international and the spotlight really is on Australia now. When I talk to my friend who works at Lane Crawford, Ellery is one of the best performing brands."
Domestic retailers are investing in design
Guy Russo has transformed embattled discount department store Kmart Australia into a retail powerhouse during his tenure. For Kmart design manager Sally Forrest, one of the key hallmarks is an emphasis on building its own handwriting. "I've been at Kmart for nine years and I suppose, the borderless trend came along five years ago and strategically, I had to fill a bigger team. We were nine and now there's 45. It's become a big thing. We need to do that because we have to be unique and have a point of difference in the market."
The Australian dollar will continue to hurt
Iconic Australian underwear brand Bonds continues to grow from strength to strength. However, parent company Pacific Brands is not immune from currency challenges. Pacific Brands Underwear Group creative director Jane Newman speaks for most of the sector: "In terms of challenges, I'm sure one that we're all in at the moment is the Australian dollar. Our weak dollar is in everybody's line as we're creating product and we're building strategies, particularly against offshore competitors to ensure we are as competitive as we have always been. That is a challenge now and the next couple of years."
