PROFIT
Profit refers to the profits obtained by an industry or company. The part of the total revenue minus costs is profit.Profit is a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
The United States and China: largest economies and the largest apparel retail markets in the world
The ten largest economies in the world as measured by nominal GDP are the United States , China, Japan, Germany, United Kingdom, India, France, Italy, Canada and South Korea. The US accounts for 24.67% of the total global economy, China has a share of 17.39%, Japan a share of 5.97%, Germany a share of 4.54% and the UK makes up 3.26%.( Investopedia article, based on The World Bank data GDP 2020.) The largest retail markets in the world are China, the US, the United Kingdom, Germany and Japan (more about that in the next paragraph ‘The Global Apparel Market).(In 2021. Source: Euromonitor International, a market research provider)
In 2023, consumers will become unpredictable and unpredictable. Brands need to carefully consider the factors that affect shopping behavior and make corresponding responses. Even if many customers reduce their expenses, brands still have the opportunity to attract customers through leasing channels and discount retailers. But these strategies need to be carefully executed to ensure that profits and brand reputation are protected. At the same time, brands need to update their marketing and design methods to reflect the changing concepts surrounding gender boundaries in fashion and dress codes. Daily office attire will become more casual, and special occasion attire will become bolder.Brands need to be more creative in marketing, attracting customers through bold and differentiated content, in order to break through the crowded digital environment where data positioning is no longer effective. In order to implement these changes and better respond to the upcoming sustainable marketing regulations, the fashion industry should rethink how to allocate talent, promote, and establish executive roles and teams to reflect the main challenges facing the industry in the coming years.(Imran Amed)
How to bridge the gap between creativity and business? When I try to provide my own answer to this question, I will examine my work as an editorial designer. I am the kind of person who tries to break through boundaries and try to make things as close to art as possible in a business environment. When it comes to promoting my concept and convincing others that people will ‘understand’, the business aspect dominates. This is something that many people do not understand about design. For the most successful designers, this not only requires technical skills (knowing how to use programs and understanding design and color theory), but also has huge sales potential. If no one buys it, no matter how successful your work is in art, it is meaningless. You must persuade people to stand on your side and effectively make them stand up and sell for you.(Tearra Marie ( @AhorashiiKagome ) Art and business are inseparable, and both should operate simultaneously in the entire fashion market. This includes imagination and innovation, as well as customer loyalty to the brand. Brands need to constantly explore new things, such as the design backgrounds of different seasons, which will be vivid and interesting in order to attract customers.
Bibliography：
Hethorn, J., & Ulasewicz, C. (Eds.). (2015). https://uncannycreativity.com/how-do-you-bridge-the-gap-between-creativity-and-business/ https://fashinnovation.nyc/fashion-industry-statistics/