Published March 2024
Going beyond transactions, SOURCING at MAGIC’s perceptive sessions offered valuable market data
SOURCING at MAGIC not only provides access to a qualified, proven group of manufacturing resources, but also offers unique insight into the sourcing process at all levels through our robust, on-site education programming. On-site sessions are offered throughout the day to support and inform visitors at all levels. Here are some highlights from just three of our timely and engaging presentations.
Consumer Intelligence: "Behind the Buy: 2024 Consumer Insights Report"
SOURCING at MAGIC’s parent brand, MMGNET Group, is launching the 2024 US Fashion Consumer Outlook Report, which projects purchasing habits for 2024. Teodora Nicolae, MMGNET Vice President of Marketing, and Courtney Hazirjian, MMGNET Director of Content, took the stage to dive into some of the learnings and sneak peeks from the report. Access the report here.
Nicolae and Hazirjian began the session by comparing the growth of various sectors within the fashion industry, including women’s apparel, menswear, footwear, accessories, and beauty, with increases happening across the board. They went on to show that 76% of consumers surveyed said they planned to spend as much or more on fashion this year as compared to 2023. Beyond fashion, or perhaps in tandem with it, consumers also plan to spend money on dining out, travel, and health and fitness. Electronics are also a critical spending category.
Nicolae pointed out that retailers are adding travel and wellness-related products to their merchandise mix, while brands are capitalizing on these trends by creating cross-industry collaborations.
Behind The Buy Session with Teodora Nicolae, MMGNET Vice President of Marketing and Courtney Hazirjian, MMGNET Director of Content
Drilling down, the report further highlights sportswear as the most significant and fastest-growing category within apparel, emphasizing performance, outdoor, and sports-related apparel underscoring to the importance of health and wellness. Additionally, this opens opportunities for textile mills to emphasize innovations such as moisture-wicking, temperature control, etc.
The report goes on to discuss consumers’ renewed focus on fit, quality construction, and personalization, which also affects more significant industry concerns such as transport costs, returns, and, ultimately, sustainability.
The 2024 US Fashion Consumer Outlook report contains much more and is just one example of MMGNET GROUP’s renewed focus.
Spring Forward: Intro to the SS 25 Season: Culture, Materials, Color
FS (Fashion Snoops) Materials Director Nia Silva presented a priceless Spring/Summer 2025 trend report during the Las Vegas event. No peering into crystal balls here: FS analyzes the cultural signals that influence trends to predict what we can expect to sell next year in terms of materials, construction, finishes, detailing, and, of course, color. The four overarching design aesthetics the consumer insights and trend forecasting agency has identified for the coming year are Honest, Convergence, Devotion, and Movement.
Honest is rooted in the idea that modern consumers want to feel certain in their choices. It’s also related to reconnecting with the natural world.
Intro to the SS 25 Season Session with Nia Silva, Fashion Snoops (FS) Materials Director
Convergence reflects our concerns about protecting the natural world, the rise of AI, social media functioning as a democratized form of expression, and a drive to explore nature.
Devotion is about consumers becoming more value-conscious while connecting with their belief systems, examining religious and spiritual systems, and connecting to the earth and nature.
Movement involves shedding the stagnancy caused by lockdowns and seeking the well-being that feeds body, mind, and spirit. It’s about adaptive mobility and giving in to the sensual.
If you missed the onsite session, you can watch the full pre-event session on demand HERE.
Opportunities in Africa: Why Source in Africa, Why Now?
SOURCING at MAGIC always showcases an international array of manufacturing opportunities, but African nations offer particularly hopeful promise. SOURCING at MAGIC Vice President Andreu David hosted a valuable session at this season’s event that featured William Fanjoy, Senior Trade Advisor for USAID Africa Trade and Investment and Prosper Africa, Dr. Golden Mahove, Senior Technical Director for USAID Africa Trade and Investment, and Gregory Poole, Special Advisor for USAID Africa Trade and the Investment and former Chief Supply Chain Officer, and Chief Sourcing Officer at The Children’s Place. The talk offered practical insight for any brand looking to find new resources.
Fanjoy pointed out that Prosper Africa is based on two-way trade and investment. The initiative connects with 17 U.S. Government agencies to help streamline development, trade, and investment. “Over the last five years, we have concluded just under 2,000 transactions at just under $100 billion,” said Fanjoy. “That's a big number considering overall trade to and from Africa is about $86 billion annually.”
Dr. Mahove said that Africa offers unique opportunities for suppliers seeking to diversify their supply chains because there are many countries to source from. “We are talking about North Africa, West Africa, East Africa, and Southern Africa, where at least 35 countries have good capabilities to supply into the US market.”
Why Source in Africa Session with Andreu David, SOURCING at MAGIC Vice President; William Fanjoy, Senior Trade Advisor for USAID Africa Trade and Investment and Prosper Africa; Dr. Golden Magove, Senior Technical Director for USAID Africa Trade and Investment; and Gregory Poole; Special Advisor for USAID Africa Trade and Investment and former Chief Supply Chain Officer, and Chief Sourcing Officer at The Children's Place
“When I think about the work we've been doing in Africa,” adds Poole, “it's about developing and building a new sourcing market. That requires some effort, yet that effort has yielded some incredible results for our company.”
From meta issues like creating a sustainable supply chain to the very start and throughout the process, to discovering a whole new group of manufacturing possibilities, to the brass tacks of running a business, SOURCING at MAGIC offers something for every step of the sourcing journey. Access our newly launched Region guide, to learn more about the opportunities of sourcing in Africa.
Make plans now to attend:
SOURCING at MAGIC Las Vegas from August 19 to 21, 2024 (REGISTER NOW)
SOURCING at MAGIC returns to New York City this September 22 to 24, 2024 (Learn More about the NY Event)
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