Sustainable Fashion. Quiet Luxury. Barbie Wear. Mermaid Core. Neon Colours. 2023 was a year filled with distinctive fashion statements and iconic pieces. However, as we step into the second half of 2024, some trends have faded away, while some are still here to stay.
The fashion market has become increasingly diverse and inclusive in recent years, with a growing emphasis on sustainability, personalisation and technology integration. According to HKTDC Research and McKinsey’s State of Fashion report, the fashion industry is headed for an optimistic outlook and steady growth this year despite economic uncertainty. Reaching a whopping US$770.9 billion with a projected CAGR of 8.94% from 2024-2029, a focus on emerging markets and digital channels is expected.
Social Media Shaping the Fashion Industry
Despite incredible growth rates, one of the biggest challenges within the industry is the market shift towards the impact of the younger generations. Strongly influenced by social media and technology, fashion trends amongst young consumers change quickly based on viral content posted on platforms such as Instagram, TikTok and YouTube. To attract young shoppers, fashion brands have had to catch up on trending topics and adopt AI and VR technology in their business models to keep themselves relevant.
Learn More:
The State of Fashion 2024-25: Embracing Sustainability, Diversity, and Global Opportunities
Find out trending fashion industry developments in this article!
1. Fashion Embracing White Noise
Unlike the hot pink craze following the Barbie movie, 2024 started with a quiet and mellow ‘White Noise’ trend. Drawing inspiration from the soft and unobtrusive sound, this trend is about clean lines and tranquility. From Valentino to Prada and Dior, many designer brands have made a clear shift away from bright colours and opted for elegant white for the remainder of the year.
White Noise fashion uses a neutral colour palette – from shades of white, cream, beige and soft greys to create a sense of serenity and cohesiveness. Pieces for the trend are clean and minimalistic, and excessive accessories are avoided, not to disturb its overall aesthetic.
2. Corporate Core - The Next Office Fashion
Who said that office wear is only for work? From suits to button-up shirts, formal business attire is back in style. According to The Weekly’s Style Director, corporate core brings a cool, tailored look that showcases powerful yet practical looks. The Pinterest Summer Trend Report shows the same observation: there has been a 950% increase in phrases such as ‘Corporate Chic’ with this fashion style representing a balanced commitment to work and chic modernity.
To pull off the corporate style, Glamour suggests a monochrome wardrobe – investing in vintage blazers fitted with a cinched waist, glasses instead of contacts, and tailored trousers. Women can go for a sleek bun to complete the look.
3. Bringing Fashion Back to The 90s
The fashion industry is turning time and bringing nostalgia back for the 90s babies, as most millennials have reached or are approaching their 30s. With reports showing that searches for makeup in the 90s and 2000s have skyrocketed in the past months, the 90s trend is here to stay.
Marie Claire says ‘90s fashion is about bringing back those flannels, overalls, windbreakers, jellies and baseball caps’. For the coming months, we expect to see an influx of crop tops, street-style fashion, high-waisted jeans and tiny sunglasses on the streets and in fast-fashion stores.
4. Genderless Fashion
With Gen Zs redefining the concept of gender fluidity, the line between men’s and women’s fashion has also become increasingly fluid to suit individual tastes and preferences. Genderless or Gender-neutral fashion departs from ‘traditional’ fashion norms and stereotypes, emphasizing inclusivity and diversity.
According to Apparel Resources, the global unisex category has grown by 46% last year and is projected to experience a CAGR of 6.5% up to 2030. As content creators and social media influencers have continued to promote inclusivity and advocate for genderless fashion, we expect this trend to continue for years.
Staying On the CentreStage
Want to be in the top spot? Being one of the fastest-changing industries in the world, staying on top of fashion trends is crucial for businesses to stay afloat. Coming back in high fashion, HKTDC’s CENTRESTAGE will take place from 4 – 7 September 2024 and showcase the hottest fashion trends.
Being Asia’s fashion spotlight, the fair will feature mesmerising creations, runway shows, designer insights, and lots of exciting talks and style showcases from emerging fashion designers and established designer labels worldwide.
Prepare to be amazed at this year’s CENTRESTAGE:
Looking for the latest fashion items today? Visit our e-Marketplace:
- https://www.statista.com/outlook/emo/fashion/worldwide
- https://www.iiad.edu.in/the-circle/how-does-social-media-impact-our-fashion-choices/
- https://www.vogue.co.uk/article/spring-summer-2024-fashion-trends
- https://time.com/6275663/generation-z-gender-identity/
- https://www.independent.co.uk/life-style/fashion/2024-fashion-trends-stylists-b2469289.html
