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Founded in 1913 as a leather goods shop in Milan, the company specializes in the making of leather handbags, travel accessories, shoes, ready-to-wear collections as well as other fashion items. One of the most valuable luxury brands in the world, Prada is an Italian luxury fashion house with annual net sales that fared around three billion euros up until 2019. With the pandemic, the annual revenue of the luxury house took a major hit in 2020 before going back to its pre-pandemic levels in 2021. In 2022, the sales revenue reached 3.7 billion euros.

Company figures

As of 2022, the company operated a combined total of 638 owned and franchised stores worldwide and had a global total of 13,186 employees. The Asia-Pacific and Europe regions account for most of Prada's net sales, followed by Europe. Prada's business ventures include runway shows, manufacturing watches and perfumes, and designing flagship boutiques. However, Prada's largest source of revenue comes from the sale of leather goods such as purses and belts.

Prada in the luxury sphere

Prada is one of the leading brands in the luxury market with a powerful impact that goes beyond the fashion industry. In a ranking that measured the value of luxury brands based on their media impact, Prada came in eight place, with a Media Impact Value (MIV) of over 50 million U.S. dollars. This metric measured a brand's impact across online media, such as content performance on blogs and social media platforms. In Europe, the Prada brand had a similar effect. In both regions, Chanel, Dior and Louis Vuitton were some of the luxury brands with the highest media impact value.

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Company figures

As of 2022, the company operated a combined total of 638 owned and franchised stores worldwide and had a global total of 13,186 employees. The Asia-Pacific and Europe regions account for most of Prada's net sales, followed by Europe. Prada's business ventures include runway shows, manufacturing watches and perfumes, and designing flagship boutiques. However, Prada's largest source of revenue comes from the sale of leather goods such as purses and belts.

Prada in the luxury sphere

Prada is one of the leading brands in the luxury market with a powerful impact that goes beyond the fashion industry. In a ranking that measured the value of luxury brands based on their media impact, Prada came in eight place, with a Media Impact Value (MIV) of over 50 million U.S. dollars. This metric measured a brand's impact across online media, such as content performance on blogs and social media platforms. In Europe, the Prada brand had a similar effect. In both regions, Chanel, Dior and Louis Vuitton were some of the luxury brands with the highest media impact value.

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Find the most up-to-date statistics and facts on Prada

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Revenue in the Luxury Fashion segment amounts to US$111.50bn in 2023. The market is expected to grow annually by 3.39% (CAGR 2023-2028).

In global comparison, most revenue is generated in the United States (US$27,150.00m in 2023).

In relation to total population figures, per person revenues of US$14.51 are generated in 2023.

The Luxury Fashion segment includes Luxury Apparel and Footwear. The overall definition of this segment follows the Consumer Market Outlook’s Apparel and Footwear markets, while here only sales of luxury brands are considered, and mass-market products are excluded.

Fashion constitutes the bulk of sales in the global personal luxury goods industry and has a healthy growth outlook over the next five years.

The shown market data are based on an analysis of more than 100 of the biggest luxury companies in the world. A complete list of all companies and brands covered can be found in the methodology description. Accordingly, fashion goods from smaller companies or artisanal production unaffiliated with the companies covered are not included. All data are shown at retail value, which includes markups for retail distribution and sales taxes.

The most notable companies are LVMH (with brands such as Louis Vuitton, Fendi or Loro Piana), Kering (Gucci, Balenciaga, Saint Laurent and other brands), Ralph Lauren and PVH (Calvin Klein, Tommy Hilfiger).

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Highlights

Revenue in the Luxury Fashion segment amounts to US$111.50bn in 2023. The market is expected to grow annually by 3.39% (CAGR 2023-2028).

In global comparison, most revenue is generated in the United States (US$27,150.00m in 2023).

In relation to total population figures, per person revenues of US$14.51 are generated in 2023.

Key regions: United States, Japan, China, South Korea, France

Market definition

The Luxury Fashion segment includes Luxury Apparel and Footwear. The overall definition of this segment follows the Consumer Market Outlook's Apparel and Footwear markets, while here only sales of luxury brands are considered, and mass-market products are excluded.

Fashion constitutes the bulk of sales in the global personal luxury goods industry and has a healthy growth outlook over the next five years.

The shown market data are based on an analysis of more than 100 of the biggest luxury companies in the world. A complete list of all companies and brands covered can be found in the methodology description. Accordingly, fashion goods from smaller companies or artisanal production unaffiliated with the companies covered are not included. All data are shown at retail value, which includes markups for retail distribution and sales taxes.

The most notable companies are LVMH (with brands such as Louis Vuitton, Fendi or Loro Piana), Kering (Gucci, Balenciaga, Saint Laurent and other brands), Ralph Lauren and PVH (Calvin Klein, Tommy Hilfiger).

in-scope / out-of-scope

in-scope

Apparel (Ready-to-Wear, Prêt-à-porter)

Footwear

Clothing accessories (gloves, neckwear, belts, hats and caps etc.)

Luxury segments and brands of the companies covered (see methodology for list)

out-of-scope

Leather goods (bags and luggage)

Artisanal and small-scale production unaffiliated with the covered companies (see methodology for list)

Market structure

Reports

Methodology

Overview

Revenue

Key Players

Sales Channels

Global Comparison

Methodology

Key Market Indicators

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Luxury Fashion - Worldwide | Statista Market Forecast

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The Luxury Fashion segment worldwide is projected to grow by 3.39% (2023-2028) resulting in a market volume of US$131.70bn in 2028.

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This chart shows the main incentives for the purchase of luxury goods worldwide in 2013. All in all, more than 80 percent of respondents bought luxury goods because they valued the quality of these products.

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This chart shows the main incentives for the purchase of luxury goods worldwide in 2013. All in all, more than 80 percent of respondents bought luxury goods because they valued the quality of these products.

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Luxury: purchase reasons worldwide 2013 | Statista

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This chart shows the main incentives for the purchase of luxury goods worldwide in 2013.

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Made up of luxury apparel, footwear, fragrance, jewelry and watches, the luxury personal goods market has conventionally depended on sales in physical stores as the luxury shopping experience is integral to luxury ownership. Today, the personal luxury goods market has a value of 217 billion euros worldwide. Triggered by the coronavirus (COVID-19) crisis and the further penetration of e-commerce into the luxury sector, however, luxury brands have been tapping into online retailing both via direct-to-consumer channels and e-commerce platforms, which have gotten quite popular with luxury shoppers. In 2020, about one quarter of the value of global personal luxury goods market was attributed to online channels.

E-commerce enters the luxury sector

According to estimates, younger generations are expected to be the main actors of the luxury goods market by 2025, with millennials accounting for half of the value of the luxury market. There is little doubt that with such big demographic shifts in the consumer base, the luxury shopping experience is bound to move towards a more digital future and cater to the needs and habits of the generations born into the digital world. For many brands that had to shut down their physical stores temporarily amidst the coronavirus (COVID-19) pandemic restrictions, e-commerce sales have already taken off. The Kering Group, which owns the brands Gucci, Saint Lauren, Balenciaga, and Bottega Veneta, doubled its e-commerce sales in 2020 compared to the pre-pandemic figures. Richemont Group, which operates the e-commerce platforms for luxury personal goods like Watchfinder and Yoox Net-a-Porter, reported sustained sales revenue for its online distributors segment in 2020 and 2021.

It is fair to say that online sales of luxury goods are greatly helped by e-commerce platforms and marketplaces where luxury shoppers are offered a coterie of luxury brands. Farfetch is among the popular online marketplaces for luxury goods with more than 10 million active customers in 2020. The UK-based luxury marketplace was among the industry's leading brands based on revenue, ranking side by side with luxury conglomerates like LVMH, Kering, and Richemont. Farfetch’s online popularity placed the platform among the fastest growing luxury retail websites in the United States in 2020.

China: key consumption hub for the global luxury industry

As it stands, North America is the leading market for luxury goods, but China is a dynamic and strong runner-up with a share of 20 percent of the global market and with revenues forecast to reach from around 39 billion U.S. dollars to just over 56 billion U.S. dollars by 2025. While a majority of luxury shopping still takes place in physical stores or store-based overseas locations, various e-commerce channels, such as brand websites and apps, and third-party luxury e-commerce platforms, like Tmall’s luxury pavillion, or miniprograms within WeChat, are relevant to luxury shopping as well. Tmall’s luxury pavillion is particularly popular with younger Chinese consumers. In 2020, an overwhelming majority of the platform’s gross merchandise value for luxury products was down to millennial consumers. Other surveys with affluent consumers also showed that in the Asian region including China, Hong Kong, Japan and Singapore, the use of online channels such as mobile devices were more widespread when purchasing luxury brands and services.

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E-commerce enters the luxury sector

According to estimates, younger generations are expected to be the main actors of the luxury goods market by 2025, with millennials accounting for half of the value of the luxury market. There is little doubt that with such big demographic shifts in the consumer base, the luxury shopping experience is bound to move towards a more digital future and cater to the needs and habits of the generations born into the digital world. For many brands that had to shut down their physical stores temporarily amidst the coronavirus (COVID-19) pandemic restrictions, e-commerce sales have already taken off. The Kering Group, which owns the brands Gucci, Saint Lauren, Balenciaga, and Bottega Veneta, doubled its e-commerce sales in 2020 compared to the pre-pandemic figures. Richemont Group, which operates the e-commerce platforms for luxury personal goods like Watchfinder and Yoox Net-a-Porter, reported sustained sales revenue for its online distributors segment in 2020 and 2021.

It is fair to say that online sales of luxury goods are greatly helped by e-commerce platforms and marketplaces where luxury shoppers are offered a coterie of luxury brands. Farfetch is among the popular online marketplaces for luxury goods with more than 10 million active customers in 2020. The UK-based luxury marketplace was among the industry's leading brands based on revenue, ranking side by side with luxury conglomerates like LVMH, Kering, and Richemont. Farfetch's online popularity placed the platform among the fastest growing luxury retail websites in the United States in 2020.

China: key consumption hub for the global luxury industry

As it stands, North America is the leading market for luxury goods, but China is a dynamic and strong runner-up with a share of 20 percent of the global market and with revenues forecast to reach from around 39 billion U.S. dollars to just over 56 billion U.S. dollars by 2025. While a majority of luxury shopping still takes place in physical stores or store-based overseas locations, various e-commerce channels, such as brand websites and apps, and third-party luxury e-commerce platforms, like Tmall's luxury pavillion, or miniprograms within WeChat, are relevant to luxury shopping as well. Tmall's luxury pavillion is particularly popular with younger Chinese consumers. In 2020, an overwhelming majority of the platform's gross merchandise value for luxury products was down to millennial consumers. Other surveys with affluent consumers also showed that in the Asian region including China, Hong Kong, Japan and Singapore, the use of online channels such as mobile devices were more widespread when purchasing luxury brands and services.

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Topic: Online personal luxury goods market

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Find the most up-to-date statistics and facts on online personal luxury goods market

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Winners take all in global apparel, fashion, and luxury

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Winners take all in global apparel, fashion, and luxury

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Winners take all in global apparel, fashion, and luxury | McKinsey

Before COVID-19, the value category was a highlight of the industry, with shareholder returns of 21.1 percent. This changed significantly during the pandemic as customers were forced to shop online; most of the major value brands lacked robust e-commerce platforms to cater to these changing demands.

Meanwhile, several forces have contributed to the luxury category’s extraordinary strength:

Pandemic-affected saving and spending habits. To start, COVID-19 lockdowns pushed more consumer dollars (particularly North American dollars) away from travel and experiences and toward savings and shopping for luxury goods.⁴ During the pandemic, consumers were saving at all-time high rates,⁵ and once restrictions lifted in 2021 and 2022, they actively engaged in “revenge spending” as consumers sought a reward for life on pause.

North American luxury dominance. After decades of dominance by Asian and European business, many luxury brands are seeing their share of market shift to the Americas. US consumers have historically been less interested in the luxury segment than their peers in Asia and Europe, but this seems to be changing. For example, the share of LVMH’s revenue that came from the Americas grew from 24 percent in 2019 to 26 percent in 2021, according to the company’s financial disclosures. Likewise, during the same period, Kering’s US share of revenue grew from 19 percent to 26 percent. This new wave is likely a result of both traditional market strength in the United States creating an increase in wealth and the limited international travel opportunities during COVID-19 that reduced cash-spending options.

More investable and sustainable shopping. Consumers are starting to view luxury goods through a new lens, in terms of both the goods’ attractiveness as long-term financial investments and the appeal of sustainable shopping through high-end resale. This period can rightfully be defined as a new era of luxury shopping, and the primary consumer is a departure from the traditional international shopper. A new profile of mindful luxury shoppers—those who prioritize sustainable shopping, products with long life cycles, and potential investment opportunities—seems to be shifting the landscape and driving increased momentum for the luxury category. (Consider that McKinsey predicts resale segments could grow at more than a 10 percent CAGR in the coming years.)

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Jumpstarting value creation with data and analytics in fashion and luxury

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Jumpstarting value creation with data and analytics in fashion and luxury

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Data will be the key to unlocking the insights needed to adapt to change and to reengage customers in the coming months and years. Yet the pandemic has exposed a major shortfall in data gathering and analysis across much of the industry. The gap between data leaders and laggards has widened: some data-savvy fashion and luxury companies have dramatically increased their market value, while others have lost ground to competitors. Indeed, the 25 top-performing retailers—most of which epitomize the powerful shift to digital, data, and analytics—represent more than 90 percent of the sector’s increase in global market capitalization during the pandemic.

Simply put, the sooner fashion and luxury companies learn to harness the power of data, the better.
Data-driven decisions around stock and store optimization have increased sales by 10 percent. And enhancing visibility throughout the supply chain has streamlined inventory management, improved returns forecasting, and optimized transport networks—reducing inventory costs by up to 15 percent. Most significantly, fashion companies that have harnessed the power of data to personalize customer e-commerce experiences have grown digital sales by between 30 and 50 percent

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The COVID-19 crisis is first and foremost a humanitarian crisis, but its economic impacts are far-reaching. Fashion is no exception: apparel companies lost 90 percent of their profits in 2020, according to the McKinsey Global Fashion Index. Consumer confidence plummeted during the pandemic, and it has yet to recover.

Data will be the key to unlocking the insights needed to adapt to change and to reengage customers in the coming months and years. Yet the pandemic has exposed a major shortfall in data gathering and analysis across much of the industry. The gap between data leaders and laggards has widened: some data-savvy fashion and luxury companies have dramatically increased their market value, while others have lost ground to competitors. Indeed, the 25 top-performing retailers-most of which epitomize the powerful shift to digital, data, and analytics-represent more than 90 percent of the sector's increase in global market capitalization during the pandemic.

Simply put, the sooner fashion and luxury companies learn to harness the power of data, the better.

Data gold mines in the value chain

Data are more abundant than ever-and the COVID-19 crisis has made the case for building data capability even more pressing. The fashion and luxury firms that are likely to come out of the crisis stronger than before are tapping into their data to stay a step ahead.

The use cases for data and analytics are varied, numerous, and fairly well known, but where to focus along the value chain isn't always intuitive. The challenge often lies in pinpointing where and how to integrate data into the business in a cross-functional way, and building the appropriate operating model to do so. Over the past 12 months, we've seen fashion companies navigate and extract value across the whole value chain.

Fashion companies that have harnessed the power of data to personalize customer e-commerce experiences have grown digital sales by between 30 and 50 percent.

In particular, fashion and luxury companies that have integrated data into their planning, merchandising, and supply-chain processes have seen tangible results. Data-driven decisions around stock and store optimization have increased sales by 10 percent. And enhancing visibility throughout the supply chain has streamlined inventory management, improved returns forecasting, and optimized transport networks-reducing inventory costs by up to 15 percent. Most significantly, fashion companies that have harnessed the power of data to personalize customer e-commerce experiences have grown digital sales by between 30 and 50 percent (Exhibit 1).

While it is evident that data and analytics can unlock significant value in e-commerce sales, the potential for improving physical sales should not be ignored. In an omnichannel world like the one we are heading toward in the aftermath of the COVID-19 crisis, businesses need the flexibility to respond and adjust to shifting customer preferences. As pandemic-related restrictions ease, physical sales may pick up again. Data capabilities are relevant for getting the omnichannel model right.

Four pillars for building data capabilities in fashion and luxury

Data are a precious resource. Leaving such information untapped leaves value on the table. Fashion and luxury companies can build four critical capabilities to unlock their data's value: strategy and use-case battlegrounds, data architecture and platforms, governance and operating model, and talent and culture.

Define the data strategy and prioritize the 'battlegrounds'

The data journey starts with setting a vision for how data will support business goals over the next two to four years. A shorter horizon may be too shortsighted and not ambitious enough for fashion and luxury businesses. Any longer, and time to impact makes the upfront investment untenable. This vision-setting process is best led by a chief data officer (CDO), someone senior in the organization who can champion the change through the many competing business priorities. The data journey is a collaborative process including most executives, since use cases hit so many parts of the value chain. The CDO translates that vision into a set of core priority business domains-the company's data and analytics "battlegrounds"-and defines specific use cases for each priority domain.

The following example brings this process to life: A leading digital-native fashion marketplace declared "size and fit" its top data and analytics battleground. The firm created a team of researchers, data scientists, and engineers embedded in the merchandising and product teams to solve the persistent returns-fit-optimization problem. The firm defined the initial size-curve buy as a single use case and set out to make it a much more data-driven and dynamic decision.

Customer personalization should be on every fashion player's data and analytics road map, as this is table stakes today. A leading sports-apparel retailer developed an ambitious data vision to power one-to-one relationships with consumers through data-driven personalized experiences. The firm collects huge volumes of data generated from customer-facing apps that enable it to offer more targeted and personalized experiences. The firm has also acquired predictive analytics platforms that forecast the behavior and lifetime value of customers, among other capabilities. Personalization as a battleground has enabled this retailer to develop a whole series of use cases to drive one-to-one engagement with customers.

Other fashion companies have personalized their customers' e-commerce journeys, and in doing so have been able to offer customers what they want when they want it and build brand loyalty. Data and analytics applications have helped these companies to optimize assortment, reduce returns, and launch new brands (see sidebar "The COVID-19 crisis has accelerated technology use along the value chain, significantly increasing the 'data footprint'"). Building a personalized interaction with customers across multiple channels has led to a 20 percent increase in revenue, and companies that have used data to optimize price have also been able to increase margins by up to 10 percent (Exhibit 2).

Invest in data architecture and platforms aligned with 'battlegrounds'

Modern fashion data architectures handle core retail day-to-day data sets that are large and unstructured, such as SKUs, sales, point-of-sale (POS) transactions, stock transactions, e-commerce touchpoints, customer 360 information, and radio-frequency identification (RFID). The truth is, most fashion and luxury companies have expensive legacy systems built on inflexible, nonscalable, and limited data warehouses that cannot integrate new data sources.

Most turn to data lakes as a solution, which serves as the organization's single source of truth and features several layers for data consumption. However, modern data architectures must evolve across all layers, drawing on new architectural paradigms including cloud-based data platforms, serverless and containerized data platforms and applications, no-SQL databases, flexible data schemas, and solutions that provide real-time data-processing capabilities.

To picture these innovations in practice, consider the following example: A leading fashion player built a new data architecture, and most of the company's databases and systems have been migrated in the past three to four years. This retailer made a significant investment to develop a massive multilayer data lake in the private cloud and consolidate hundreds of internal and external data repositories. In addition, the retailer set up a data-architecture lab and is continually experimenting with new data tools to support and improve performance. For instance, the firm recently deployed a real-time data-streaming platform to power a wide range of business use cases across its priority domains of digital personalization and real-time supply-chain management. Thanks to these efforts, it has achieved processing power of several petabytes of data per hour, enabling a rapid response to market changes while also acquiring the capacity to identify trending products and introduce them earlier than competitors.

However, many fashion and luxury companies fall into blind investment traps. Too often, the CDO will ask for the freedom to get the data fixed before committing to value creation through data use cases. It's a common fallacy. Successful fashion players scale data-platform investments alongside real value delivery. This phased approach allows firms to pace investment as the benefits materialize-saving on upfront investment. Firms that get this right typically invest in the resources they need to deliver the first set of use cases, and then build on this in an incremental way, ensuring development of road-tested assets (in particular, data protocols, ontologies, models, and data products) to ensure faster time to market with every new use case.

Define a high-performing data and analytics operating model

Data management is often the Achilles' heel of many fashion and luxury companies. The absence of high-quality data and clean taxonomies, and the general lack of common language and understanding around data across the organization, wreak havoc when starting on an analytics journey. This could not be more true for core data sets; data from POS transactions, for example, are a mix of structured and unstructured data and include sensitive personal information such as credit card numbers. And SKU-product data, which is key to managing integrated omnichannel stock, typically comes with unstandardized formats from suppliers, generating a need for tight master-data management and integration of several merchandising and vendor-management systems.

Fashion companies have tackled the problem by setting up a value-backed data-operating-model framework across 20 to 30 data domains-such as sales, stock, and store transactions, among others-that have a clear owner in each business unit. These owners are best placed to define what kind of information is needed from various business functions and understand what such data can measure. They can also work collaboratively to ensure that the organization has a uniform definition of data and put processes in place to monitor data quality. Ownership is important, as it builds the mindset that the process of getting data right is not just an IT issue, but it is critical for decision making across the organization.

A leading integrated omnichannel fast-fashion player followed this approach, with tangible results. The firm defined a data-governance framework-including roles, responsibilities, and processes-to improve data quality and build an understanding of key data sets necessary to provide insight and enhance decision making. The firm set up teams responsible for developing tools or sets of use cases for the business, and those same teams were also responsible for defining and integrating data governance. The firm saw a 50 percent improvement in data quality, measured as compliance with business-defined data-quality rules.

A more sophisticated solution is to use machine-learning algorithms to improve data quality in key data assets such as customer information. For instance, fashion retailers have used pattern-recognition algorithms to eliminate duplicates in customer databases. And other machine-learning techniques such as data imputation and natural language processing can improve demand forecasting (Exhibit 3).

Develop talent and build a data and analytics culture

Many fashion and luxury companies have taken the leap of upskilling their workforces and reinventing talent and culture practices. We see fashion companies grabbing talent from academia, digital natives, and start-ups; few build their bench purely in-house. However, talent is often hidden in plain sight. Some leading businesses have found success with data academies to train new data professionals-such as data architects, data scientists, and data stewards-and ensure that core decision makers, such as designers, merchandising teams, and e-commerce teams, can translate data and analytics to fit business needs. A data culture that not only accepts data-driven insights and modeling, but also is hungry for it, is critical to get value from the data investment. Too many fashion companies make the leap only to find the business is stuck in old ways of working, and these firms tend to view data and analytics with an unfair amount of skepticism.

How to get started and shape a winning data road map

Many fashion and luxury companies have harnessed the power of data to build stronger relationships with their customers and drive sales (see sidebar "How a North American fast-fashion firm turned to data in a crisis"). They have also achieved operational efficiencies that have increased margins. But building data capability is only half of the equation. A data-transformation strategy and road map can put it into practice and set companies on a path to unlocking value. Fashion and luxury companies seeking to extract value from data can implement a sustained campaign in four phases:

A North Star definition phase, headed up by the CDO, to define the vision, priority domains, and key battlegrounds across the value chain. During this phase, the company creates the data strategy, establishes the data team, selects data-architecture tools, and identifies pilot use cases for high-impact, quick-win opportunities in priority domains. This phase typically lasts six to ten weeks.

The value-creation phase, where the company starts generating value through two or three quick-win use cases. In this phase, the company also migrates data to the new architecture, sets up data governance, and launches training and change-management programs. This phase lasts four to six months.

Scale, where the transformation is scaled to tens of use cases in parallel, in three- to four-month development cycles, with many rounds of two-week sprints. In this phase, it is critical to tackle the topic of data culture, which is typically the most formidable barrier to scaling digital and analytics transformations. In fact, 33 percent of executives cited culture as the top challenge in meeting their digital and analytics priorities. This phase lasts six to nine months.

The final phase of data and analytics transformation, when data and analytics are fully embedded within the company value-creation machine. By now, the company will have data capabilities spread across the organization and will have hundreds of use cases in production that deliver value.

The initial leap into data should not be daunting for fashion and luxury companies; many have proven the investment worthwhile. What's more, investment in data and analytics could pay for itself-the upfront cash investment can be scaled as value is created. The sooner fashion and luxury companies leap in, the better. And help is at hand-a strategic approach can structure an effective data-transformation program, build momentum through realizing quick wins, and create long-term value.

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Jumpstarting value creation with data and analytics in fashion and luxury

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In a time of uncertainty, fashion and luxury companies are struggling to monetize their data. Leading firms are moving swiftly, gaining market share, and creating lasting value.

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Define a high-performing data and analytics operating model

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Define a high-performing data and analytics operating model

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Fashion companies have tackled the problem by setting up a value-backed data-operating-model framework across 20 to 30 data domains—such as sales, stock, and store transactions, among others—that have a clear owner in each business unit. These owners are best placed to define what kind of information is needed from various business functions and understand what such data can measure. They can also work collaboratively to ensure that the organization has a uniform definition of data and put processes in place to monitor data quality. Ownership is important, as it builds the mindset that the process of getting data right is not just an IT issue, but it is critical for decision making across the organization.

A leading integrated omnichannel fast-fashion player followed this approach, with tangible results. The firm defined a data-governance framework—including roles, responsibilities, and processes—to improve data quality and build an understanding of key data sets necessary to provide insight and enhance decision making. The firm set up teams responsible for developing tools or sets of use cases for the business, and those same teams were also responsible for defining and integrating data governance. The firm saw a 50 percent improvement in data quality, measured as compliance with business-defined data-quality rules.

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How to get started and shape a winning data road map

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How to get started and shape a winning data road map

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Fashion and luxury companies seeking to extract value from data can implement a sustained campaign in four phases:

A North Star definition phase, headed up by the CDO, to define the vision, priority domains, and key battlegrounds across the value chain. During this phase, the company creates the data strategy, establishes the data team, selects data-architecture tools, and identifies pilot use cases for high-impact, quick-win opportunities in priority domains. This phase typically lasts six to ten weeks.

The value-creation phase, where the company starts generating value through two or three quick-win use cases. In this phase, the company also migrates data to the new architecture, sets up data governance, and launches training and change-management programs. This phase lasts four to six months.

Scale, where the transformation is scaled to tens of use cases in parallel, in three- to four-month development cycles, with many rounds of two-week sprints. In this phase, it is critical to tackle the topic of data culture, which is typically the most formidable barrier to scaling digital and analytics transformations. In fact, 33 percent of executives cited culture as the top challenge in meeting their digital and analytics priorities. This phase lasts six to nine months.

The final phase of data and analytics transformation, when data and analytics are fully embedded within the company value-creation machine. By now, the company will have data capabilities spread across the organization and will have hundreds of use cases in production that deliver value.

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First party data – from your users

-        Surveys

-        A/B test – a way of testing a hypothesis by comparing users interactions with a changed version of your website or product

-        Paid or organic content – such as blog posts, offers, emails and social media

Second party data – another organisation’s users – to understand competitors

Third party data – rented or bought data – tracks everything

Two mistakes brands make –

01 – thinking every trend should be actionable – NFTs – every brand jumped on the trend, do not use data well and do not check their audience reaction

02 – using data to micromanage empower – brands and logo – originally had different fonts and were creative but now all look the same

How can they be better

Bridging data

-        Holistic view

-        When our data is isolated, we only get fragments of the story. We miss the interconnected narratives and the customer journey.

Identifying existing silos

-         audit and inventory – a complete audit of all data sources

-        Stakeholder interviews – to understand the nature of accessibility

-        Touchpoint analysis – identify customer interactions

-        Unified platforms – google data studio, tableau, or power BI

-        APIs and connectors – for ore customised solutions, to retrieve data from different platforms

-        Consistent checks – ensure data is from different sources and is consistent

-        Transformation – process the data to make it compatible and integrable

-        Visual representation – design a dashboard that represents this data

-        Real-time updates – ensure that the dashboard can pull in real-time data or be updated frequently to provide the most recent insights

-        Regular meetings

-        Training

Getting aligned can supercharge your business

-        Predictive analysis for future interactions

-        Better segmentation and targeting

-        Improved customer support services

-        Enhanced personalisation

-        Consistent customer experience

What can brands learn from this?

-        Evaluate historical sales data, search trends and broader fashion trends

-        Impact – seasonal trend predictions. Anticipate fashion trends for upcoming seasons, allowing for better stock planning and marketing strategies – key.wordio

-        Muscle food- personalised nutrition and meal plans

-        Demand forecasting for inventory and new product launches

-        Enhancing customer retention through predictive churn analysis

-        Customer lifecycle prediction

Measure the impact of crisis

H&M backlash

-        High DA links to product

-        25% decrease in brand impression

-        Customer engagement increased

-        Yougov brand index

The perfect situation – DA 90 and a link to the product page

-hierarchy of needs

- use their audiences data to dive engagement
- infleuncer marketing hub

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Lucy Thomas – Senior insight manager – Ralph Lauren

Jules Greenidge – Head of Insight analytics – End

Punam Osan – Retail Strategist – WGSN

Can you provide an example of how you have changed customer behaviour based on an understanding of what they have purchased in the past?

-        RFM segmentation – recency, frequency and monetary – contacted 90% for a personal shopper and held back 10% as a control group.

-        Category behaviours – what categories have been purchased and what others haven’t and look at the reasoning behind that. Why haven’t consumers purchased certain products and the reasoning behind it. ‘ Halo effect’ such as ralph lauren logo – makes a lot of revenue

How do brands use WGSN?

-        Performance – looking at increasing and declining products and how is that being measured against other product types

Do you have any concerns about the increased use of data and automation?

-        Keeping the qualitative and quantitative side balanced

Thoughts on ethics in regards to AI

-        Not being invasive or intrusive

What is the importance of location for fashion retailing?

-        Brand image – Selfridges vs TK Maxx

-        What you want your brand to be perceived as

-        Can have brands that only have an online presence and be as successful

How are data and analytics driving efficiencies in inventory and supply chain management?

-        Overconsumption – auto refilling which leads to a lack of creativity

How can a brand increase the amount of attention its product listing ads are getting?

-        Spend more money

-        Feeding the right data into google

-        Amount of data you can give into google

-        Make sure your brand and store are highly visible and making sure its all filled in and highly correct

-        Making sure there is an onward journey after they click it.

Abandoned baskets

-        Not considered as marketing but as part of the transaction

-        Send email and send push notifications

-        When you send this email – send it quickly – within hald an hour and was the optimum time – End – 3x as much

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Consumer behavior: Mobile vs desktop

Forward-looking brands must do more than look at the overall trends in online shopping. Understanding the differences in consumer behavior between mobile and desktop devices is crucial for eCommerce companies to tailor their strategies effectively. Let's explore some key aspects of this divide:

Device preference

The preference for mobile or desktop shopping varies widely among consumers, depending on the context. Research indicates that almost four-fifths (79%) of smartphone users have made an online purchase with their smartphone within the last six months. Interestingly, 71% of in-store shoppers who use their smartphones for online research feel that they have become even more essential to the value and seamlessness of their in-store experience.

Browsing vs. buying

Another fascinating point is to consider is the consumer's intent in using a mobile device vs. a desktop computer. It appears that mobile devices are often used for browsing and product discovery. On the other hand, customers favor desktops for the actual transaction. In fact, one study found that desktop users had a conversion rate of 4.14% in 2019. This is compared to a conversion rate of 3.36% for tablet users, and 1.53% for smartphone users.

Factors that affect online shopping habits

There could be several factors that explain this discrepancy between mobile and desktop shopping. For instance, the smaller screen size of mobile devices can make it less convenient for consumers to make purchases. Even just the task of filling out lengthy forms. (In fact, research from Dynamic Yield found that 67% of consumers cite the "pages and links being too small" as an impediment to mobile shopping.)

At other times, customers may feel more secure making large purchases on their desktop PC or laptop. Since these devices are often used at their personal residence. As opposed, smartphones are typically used in both public and private settings.

It seems that while the share of mobile eCommerce continues its steady climb, desktop still holds the edge in terms of conversion rate. Research seems to support this conclusion. As one study found that 85% of online purchases start on one device and are completed on another.

eCommerce companies want to shorten the gap between discovery on a mobile device. Moreover, the actual purchase is as much as possible. In many cases, mobile browsing that doesn't result in a purchase is a wasted opportunity. Therefore, many businesses have invested in frictionless payment options, shop-the-look features, and fast checkout practices to boost mobile conversion rates. These are crucial steps to take in an era where virtually everyone is browsing via their mobile devices.

Impulse buying

Another major factor to consider is the trend of impulse buying. Mobile devices, due to their constant accessibility, generally facilitate impulse buying. However, there are several subtleties in the specific type of impulse buying they promote.

For instance, one scientific study on impulse buying behavior online found that:

"The positive effects of website stimuli and marketing stimuli on consumers' internal reactions exhibit significant variations based on a situational stimulus (i.e., a non-holiday season versus a holiday season). Specifically, consumers react more sensitively to perceived website quality to form both hedonic and utilitarian values during the non-holiday season, while they focus more on prices to judge utilitarian value rather than hedonic value during the holiday season."

Based on this empirical data, it seems that online shoppers (including mobile users) tend to focus more on how a website looks when they're not under pressure to make a purchase. But when they are under pressure (such as during the holiday season), they make impulse purchases based more on price than any other consideration.

Whatever the season, it's apparent that with just a few taps on a smartphone, and within a few short seconds, consumers can and often do commit to a purchase. This "quick-trigger" behavior is further reinforced by the prevalence of social media platforms and targeted advertisements that can influence impulse buying decisions.

Contextual shopping

Context is also key when it comes to understanding what drives customer behavior in terms of mobile vs. desktop usage. Mobile devices and smartphones in particular offer the advantage of "location-agnostic" shopping. Here's why consumers can make purchases no matter where they are. For example, consumers can order groceries while commuting. Also, place a takeout order while waiting in line, or buy concert tickets while taking a break at work.

While desktop devices can't offer that level of convenience, they definitely make it easier on the average user to navigate to and browse websites. Thus, they tend to be the device of choice for consumers who plan to make bigger purchases. For instance, if someone decides to buy a car online, it is much more likely they'll do it from a desktop PC or laptop. This is more convenient than their smartphone.

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The advent of the Digital Age, with the Internet as its centerpiece, forever transformed the way consumers shop. Online shopping, with its convenience and global accessibility, quickly progressed from a novelty to a primary channel for commerce. With the proliferation of mobile devices like smartphones and tablets, the online shopping landscape has evolved even further. It gives rise to new consumer behavior patterns and digital adoption. Here's where omnichannel starts to come in.

As the digital marketplace evolves, it's vital that companies adapt along with it. Investing in one online channel is not enough to stay ahead of the curve. Rather, eCommerce businesses must offer flawless and engaging experiences on both mobile and desktop devices. Moreover, across multiple platforms and touchpoints. Lastly, in a way that provides a seamless experience for the end user.

Let's investigate the evolution of online shopping habits. Especially, in terms of mobile vs. desktop usage, and explore how eCommerce brands can leverage a holistic, omnichannel approach to achieve sustainable growth.

Omnichannel using mobile vs desktop: The evolution of online shopping

The concept of online shopping can be traced back to the 1990s, when the Internet first gained widespread popularity. Initially, online shopping was limited to desktop computers and required consumers to have a stable internet connection. (Anyone remember DSL?) As Internet penetration increased and technology advanced, online shopping platforms became more user-friendly and accessible. As a result, websites like Amazon and eBay also became much more popular.

Nowadays, online shopping has become an integral part of life for millions of consumers around the world. According to Forbes, the global online shopping market was expected to exceed $6.3 trillion by the end of 2023. This growth can be attributed to the changing preferences of consumers. This is for those who understandably value convenience, time-saving, and a wider range of choices. Of course, COVID-19 also changed consumer buying patterns. Over 80% of consumers in the United States admitted that the pandemic significantly impacted their shopping habits.

Granted, the average consumer tends to buy certain products online more readily than others. Some categories that top the list of popular online purchases include clothing, shoes, bags & accessories, books, movies, music, games, and electronics. Still, the general populace continues to lean into digital shopping experiences, either from choice or necessity. For instance, think of all the online orders for grocery store "curbside pickup" that were placed during the height of COVID-19.

The rise of mobile shopping

The introduction of the iPhone in 2007 quickly revolutionized the online shopping landscape. Mobile shopping on smartphones soon allowed consumers to make purchases on the go, anytime and anywhere. This trend has progressed to the point that now the majority of online purchases are. Moreover, many categories can be attributed to mobile shopping. In fact, one study found that mobile eCommerce sales accounted for 65.7% of total eCommerce sales worldwide in 2022.

The convenience of mobile shopping has become increasingly appealing to consumers. With features like mobile wallets, one-click purchases, and personalized recommendations, mobile devices have become indispensable tools for online shopping. The ubiquitousness of mobile apps dedicated to eCommerce has also enhanced the user experience. The changes made it even more seamless. Moreover, the simple fact is that people are using their mobile devices virtually all the time. In one report, it indicates that most American adults spend an average of 5.5 hours on their smartphone every day!

Consumer behavior: Mobile vs desktop

Forward-looking brands must do more than look at the overall trends in online shopping. Understanding the differences in consumer behavior between mobile and desktop devices is crucial for eCommerce companies to tailor their strategies effectively. Let's explore some key aspects of this divide:

Device preference

The preference for mobile or desktop shopping varies widely among consumers, depending on the context. Research indicates that almost four-fifths (79%) of smartphone users have made an online purchase with their smartphone within the last six months. Interestingly, 71% of in-store shoppers who use their smartphones for online research feel that they have become even more essential to the value and seamlessness of their in-store experience.

Browsing vs. buying

Another fascinating point is to consider is the consumer's intent in using a mobile device vs. a desktop computer. It appears that mobile devices are often used for browsing and product discovery. On the other hand, customers favor desktops for the actual transaction. In fact, one study found that desktop users had a conversion rate of 4.14% in 2019. This is compared to a conversion rate of 3.36% for tablet users, and 1.53% for smartphone users.

Factors that affect online shopping habits

There could be several factors that explain this discrepancy between mobile and desktop shopping. For instance, the smaller screen size of mobile devices can make it less convenient for consumers to make purchases. Even just the task of filling out lengthy forms. (In fact, research from Dynamic Yield found that 67% of consumers cite the "pages and links being too small" as an impediment to mobile shopping.)

At other times, customers may feel more secure making large purchases on their desktop PC or laptop. Since these devices are often used at their personal residence. As opposed, smartphones are typically used in both public and private settings.

It seems that while the share of mobile eCommerce continues its steady climb, desktop still holds the edge in terms of conversion rate. Research seems to support this conclusion. As one study found that 85% of online purchases start on one device and are completed on another.

eCommerce companies want to shorten the gap between discovery on a mobile device. Moreover, the actual purchase is as much as possible. In many cases, mobile browsing that doesn't result in a purchase is a wasted opportunity. Therefore, many businesses have invested in frictionless payment options, shop-the-look features, and fast checkout practices to boost mobile conversion rates. These are crucial steps to take in an era where virtually everyone is browsing via their mobile devices.

Impulse buying

Another major factor to consider is the trend of impulse buying. Mobile devices, due to their constant accessibility, generally facilitate impulse buying. However, there are several subtleties in the specific type of impulse buying they promote.

For instance, one scientific study on impulse buying behavior online found that:

"The positive effects of website stimuli and marketing stimuli on consumers' internal reactions exhibit significant variations based on a situational stimulus (i.e., a non-holiday season versus a holiday season). Specifically, consumers react more sensitively to perceived website quality to form both hedonic and utilitarian values during the non-holiday season, while they focus more on prices to judge utilitarian value rather than hedonic value during the holiday season."

Based on this empirical data, it seems that online shoppers (including mobile users) tend to focus more on how a website looks when they're not under pressure to make a purchase. But when they are under pressure (such as during the holiday season), they make impulse purchases based more on price than any other consideration.

Whatever the season, it's apparent that with just a few taps on a smartphone, and within a few short seconds, consumers can and often do commit to a purchase. This "quick-trigger" behavior is further reinforced by the prevalence of social media platforms and targeted advertisements that can influence impulse buying decisions.

Contextual shopping

Context is also key when it comes to understanding what drives customer behavior in terms of mobile vs. desktop usage. Mobile devices and smartphones in particular offer the advantage of "location-agnostic" shopping. Here's why consumers can make purchases no matter where they are. For example, consumers can order groceries while commuting. Also, place a takeout order while waiting in line, or buy concert tickets while taking a break at work.

While desktop devices can't offer that level of convenience, they definitely make it easier on the average user to navigate to and browse websites. Thus, they tend to be the device of choice for consumers who plan to make bigger purchases. For instance, if someone decides to buy a car online, it is much more likely they'll do it from a desktop PC or laptop. This is more convenient than their smartphone.

The importance of a seamless omnichannel experience

With the information discussed above in mind, it becomes more apparent than ever why it is essential for companies to provide seamless omnichannel experiences in today's digital market. Customers expect a consistent and personalized experience across various touchpoints. This includes mobile apps, desktop websites, emails, push notifications, and even physical stores. It's impossible to predict how many twists and turns a customer's journey may take; therefore, eCommerce brands must be ready to meet the individual's needs on any platform, at any time.

Here are some key factors that often contribute to a winning omnichannel experience:

1. A mobile-first approach

Considering the dominance of mobile in online shopping (at least in terms of sheer popularity), companies must adopt a mobile-first approach. This means designing mobile experiences that prioritize ease of use, quick load times, and mobile-specific features.

Businesses should also invest in inspiring or informational videos and "snackable" content. Those that will help customers in both the discovery and purchase phases. This kind of mobile-friendly content will contribute to greater confidence and peace of mind. Even when customers are making complex purchase decisions. Hence, they'll have enough information at their fingertips to make an informed choice.

In addition, optimizing mobile apps is advisable for different screen sizes. Also, in operating systems, it ensures a seamless experience for all users. Marketing initiatives should take the mobile format into account, and focus on ways to move customers through the sales funnel as they interact with the brand on their smartphone or tablet.

2. Omnichannel-friendly design

An average customer can interact with an eCommerce brand on several devices, at several times, and in several ways throughout the course of a single day. For that reason, companies should invest in responsive design, ensuring that their websites adapt to different devices, including desktops, laptops, tablets, and smartphones.

Just how important is responsive design in terms of attracting and retaining customers? According to one study, 73.1% of web designers believe that a non-responsive design is a top reason why visitors leave a website. On the other hand, a crisp, professional web layout that shines through on any device or platform can play a major role in growing a brand's presence and profitability.

Moreover, design should not only be responsive, but also consistent (to the extent possible) across all marketing channels - including social media accounts and apps. This omnichannel-friendly approach will help provide a consistent, flawless user experience no matter where or how they're interacting with a brand.

3. Personalization and targeted marketing

Utilizing data analytics and customer insights, companies can personalize their marketing efforts across multiple channels. Personalization is best through targeted advertisements, recommendations, and tailored email and push notification campaigns. For example, company apps can ask users for permission to save their preferences, and subsequently send product recommendations and other promotions based on that stored data.

By delivering relevant and personalized content, companies can enhance customer engagement and increase conversion rates. In fact, research indicates that consumers are 80% more likely to make a purchase from a brand that provides personalized experiences.

4. Seamless integration

To offer flawless omnichannel experiences, companies should ensure seamless integration across their various platforms. For example, a customer's shopping cart should be synchronized across mobile and desktop devices, enabling them to add items to their cart on one platform and complete the purchase on another without any disruption.

Granted, it may take some upfront investment in the technical aspects of a marketing infrastructure to achieve such seamless transitions. Nevertheless, remember that the typical buyer's journey is, in many cases, no longer a straight line from A to B. Rather, it is more like a hallway with many doors - and you want the customer to easily open any door that leads to a purchase from your brand.

Mobile vs desktop: The digital market will continue to evolve in the coming years

As discussed previously, online shopping has come a long way in its 30-some years of existence. It has experienced a metamorphosis, from a fringe novelty to an indispensable part of everyday living. Driven by changes in consumer behavior and digital adoption, online shopping has increasingly seen the dominance of mobile devices in the eCommerce landscape - without seeing desktop PCs and laptops become obsolete.

In the final analysis, it is crucial for companies to recognize that one channel is never enough. To succeed in today's marketing world, eCommerce companies must offer flawless and engaging experiences on both mobile and desktop devices, across various platforms and touchpoints. By prioritizing a mobile-first approach, adopting responsive design, implementing personalization strategies, and ensuring seamless integration, companies can meet customer expectations and achieve sustainable growth. They can survive, and even thrive, in the highly competitive online shopping industry.

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An Investigation Into Online Shopping Habits: Mobile vs. Desktop - Storyly

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Want to investigate how online shopping habits on mobile and desktop evolved? Explore how an omnichannel approach helps achieve sustainable growth.

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No other human contraption has taken a more commanding piece of human attention than the modern smartphone: in fact, people of all ages lose their minds if left without their smartphones for prolonged periods of time. They simply have to find and grab it for various reasons. As a communication tool and entertainment device, it could easily make people lose track of time as they exchange the latest gossips on social media, measure their skills against video game opponents close and afar, or watch endless videos on their streaming platform of choice. The amazing smartphone, then, deserves a closer look and examination.

We did just that and, in this article, we present the latest smartphone usage statistics in terms of consumer app spending, download preferences across major app categories, smartphone penetration rates, leading smartphone brands based on sales, and other metrics.

Key Smartphone Industry Statistics

The arrival of smartphones drastically changed the technology landscape worldwide. While the once-ubiquitous feature phones were supported by a small retinue of chipmakers and specialist app developers, smartphones created a whole new level of ecosystem about them worldwide. We look at the critical elements of this burgeoning ecosystem that's made up of hardware brands, software developers, and a whole mix of global users.

Top smartphone brands by the fourth quarter of 2020

By the fourth quarter of 2020, the top smartphone companies based on the market share of units sold are (IDC, 2021):

Smartphone penetration statistics

Active smartphone users globally

From Newzoo (2019) using 2019 figures, here is the distribution of the global active smartphone users by region:

North America - 9%

Latin America - 10%

Western Europe - 7%

Middle East & Africa - 13%

China - 27%

Japan - 2%

South Korea - 1%

India - 11%

Southeast Asia - 7%

Oceania - 1%

Rest of Asia - 3%

From Newzoo (2020), the 10 leading countries in terms of smartphone users are:

Monthly mobile data use per smartphone, by region
(Hootsuite & We Are Social, 2020)

Smartphone Public Consumer Usage Statistics

People's interaction with media devices is measured through screen time. In general, the global population has been spending more screen time on their media devices every year. Since the onset of COVID-19 and the lockdown regulations that were enforced, screen time has markedly increased.

COVID-19 confinement is notably increasing screen time

The large spike of screen time during the COVID-19 confinement is remarkable, as noted by Eyesafe (2021):

Increase in smartphone screen time across generations, based on Statista figures (2020):

Because of the prominent increase in screentime on smartphones and other devices, medical professionals (United Healthcare & Eyesafe, 2020) have noted an accompanying increase in the following symptoms:

Notable habits of smartphone users

Statistics on Consumption of Smartphone Applications

Global consumers are not just passive patrons of smartphone applications but they are also active players who vote with their downloads and money to determine who stays and wins in the business of developing these applications.

Top Reasons People Uninstall Apps

Consumers uninstall apps for a variety of reasons. In 2020, CleverTap (2020) tracked the leading reasons as the following:

The average number of hours spent on smartphone applications

As with many things, the global population's usage of smartphones varies according to age or generation. In terms of hours spent on mobile apps, the younger generations are expected to spend more time on them. Buildfire (2021) has the numbers based on average monthly hours spent per mobile app user by age:

Smartphone application categories distribution of preference

The global population can have a variety of devices with which to access the digital content that they like. Many of them, however, prefer to use smartphones to access the following application categories (Buildfire, 2021):

96% - instant messengers

96% - music

96% - maps

95% - photos

84% - weather

81% - games

79% - personals

70% - social networking

47% - retail

41% - news/information

34% - sports

19% - portals

5% - politics

Hours spent on smartphones and other mobile devices by category, worldwide

From App Annie (2020), the figure below indicates the share of time spent on smartphones and other mobile devices by category:

Share of total available smartphone/mobile applications worldwide, by store (Statista, 2021):

Growth of mobile application downloads by year

The full list showing the number of global mobile application downloads from 2016 to 2020 by TechCrunch (2021) is as follows:

Countries that lead in mobile applications download growth rate

In terms of download growth rate, which countries are leading the pack worldwide? Here, India and China lead according to Buildfire (2021):

App categories that global consumers downloaded most

Apple App Store

What are the top app categories that global consumers prefer to download? The following are the top Apple App Store categories that global consumers prefer to download as of March 2021, by share of available apps (Statista Research Department, 2021):

Google Play Store

In the case of the Google Play Store, here are the top Android app categories that global consumers prefer to download as of the 4th quarter of 2020, by share of available apps (Statista Research Department, 2021):

Smartphone apps that global consumers downloaded the most

What smartphone applications are most popular among consumers? In terms of the most downloaded apps in 2020, Apptopia (2021) lists the following:

While TikTok leads the individual global smartphone/mobile applications preferred by consumers to download, Facebook still dominated the total downloaded apps in 2020. The reason is that Facebook also owns WhatsApp, Instagram, and Facebook Messenger:

When those are added to the main Facebook application downloads, the total hits 2,047 million downloads, which easily dwarf the number generated by TikTok or other individual applications. (Forbes, 2021)

How much do consumers spend on smartphone/mobile applications? By the billions, it turns out. This is so even if most mobile applications are provided free:

Free and paid apps on Android and iOS, by distribution (BuildFire, 2021):
Android (Google Play Store) iOS (Apple App Store)
Consumer spending on smartphone apps is driving app developers' revenue

Mobile app developers make money from their offerings through a number of revenue models. Among these are in-app advertising, in-app purchases and freemium model, subscription (SaaS) model, sponsorship, crowdfunding, and affiliate links.

Top-grossing smartphone applications worldwide

Which particular smartphone apps earned the most money votes of consumers? Here's the list provided by Apptopia (2021):

Countries leading the number of downloads on Google Play Store and Apple App Store

Which countries lead in the consumption of smartphone applications? Using the data from Sensor Tower (2020) for the third quarter of 2020, we can see India and the US top the list for Android and iOS downloads, respectively:

Countries leading the downloads from Google Play Store:

Countries leading the downloads from Apple App Store:

Smartphone Usage in Social Media Statistics

The social media industry is a multibillion business serving more than half of the total population worldwide. Along with smartphone video gaming, engaging in social media with friends, family, and businesses is a defining characteristic of the age. Industry experts publish social media trends yearly in order to help them make the most of this huge revenue generator. In our case, we look at the relevant numbers from every key angle to get a grip on this industry and its global army of consumers.

Global mobile social network penetration rate, by region

For the global mobile social network penetration rate, Statista (2021) tracked the latest record available, January 2019. The distribution is as follows:

70% - Eastern Asia

61% - Northern America

61% - South America

59% - Northern Europe

59% - Central America

56% - Southeast Asia

51% - Oceania

50% - Southern Europe

46% - Western Asia

45% - Western Europe

44% - Caribbean

42% - Global average

40% - Eastern Europe

37% - Northern Africa

36% - Southern Africa

22% - Southern Asia

12% - Western Africa

8% - Central Asia

7% - Eastern Africa

6% - Middle Africa

How consumers, smartphones, and social media go together

As of October 2020, around 80% of Facebook users accessed the social network through their smartphones. (DataReportal, 2021)

When asked which smartphone/mobile apps they can't live without, Americans name the following apps (Statista Infographics, 2020):

17% - Facebook

13% - Instagram

9% - Gmail

8% - YouTube

7% - Twitter

6% - Chrome

6% - Google Maps

5% - WhatsApp

5% - Amazon

5% - Messenger

Social apps that global consumers are downloading the most

Which social apps are global consumers downloading the most? According to Business of Apps (2021), TikTok has been grabbing the headlines recently and there is no sign of the trend wavering soon. The full list:

Smartphone Usage in Video Games Statistics

The new generations are growing up on computers and smartphones. The ones before them are not too shabby, too, pioneering in the use of the new technologies and, most often, loving and immersing in them too.

Smartphone video game players play to connect with others

For many people and families, playing video games lets them connect with others. ESA (2021) noted that:

Top picks to play with

Of the 65% who regularly play with others, their top picks to play with are the following (ESA, 2021)

Age breakdown of smartphone video gamers

Unsurprisingly, most smartphone video gamers are young, from the 18-34 age group. The smartphone usage statistics by age among video gamers show the following (ESA, 2021):

Years playing distribution among smartphone video game players

Smartphone video game players do not have badges showing off how many years they have been playing video games. It is a useful metric, giving us a good overall picture of the typical smartphone video game player. On this topic, ESA (2021) shows the distribution of years spent playing video games among players in ascending order:

Favorite video game genres

Smartphone video gamers worldwide have the luxury of having a wealth of game genres to indulge in and whet their gaming appetites. Research by ESA (2021) returned with the most preferred game genres as:

Source: ESA, 2021

Designed by

This distribution can be further divided along the gender line. Here are the statistics (ESA, 2021) for the age group of players:

Men 18-34 years old

Women 18-34 years old

Men 35-54 years old

Women 35-54 years old

Men 55-64 years old

Women 55-64 years old

Men 65+ years old

Women 65+ years old

When do smartphone video game players find the time to play?

When do smartphone video gamers find the time to play? Our smartphone usage statistics 2021 show that at work, during appointments, and even during commute times, consumers find the time to grab their smartphones and play away. ESA's research tracked the distribution as follows:

Limiting access: distribution of content rating appropriate to ages by rating institutions

Long-running concerns about the appropriateness of video game content for young players have resulted in the establishment of various institutions publishing guidelines for the consumption of the public. In tandem with parental control apps, the rating bodies allow parents to protect their children from harmful online content. The list below, provided by 42matters (2021), indicates the rating distribution of content found in both Google Play Store and Apple App Store based on the issuing rating institution.

PEGI app content rating distribution for Google Play (n=2,592,784 apps)

USK app content rating distribution for Google Play (n=2,439,751)

ESRB app content rating distribution for Google Play (n=2571,808)

ACB app content rating distribution for Google Play (n=2,087,192)

ClassInd app content rating distribution for Google Play (n=2,493,165)

IARC app content rating distribution of Google Play (n=2,593,186)

GRAC app content rating distribution for Google Play (n=2,214,773)

Apple App Store content rating distribution

Unlike Google, Apple deploys its own content rating system. Developers cannot sell on the App Store until their apps have received the rating as determined by Apple. Here is the Apple Store content rating distribution using the apps sampled, n=1,203,686 (42matters, 2021):
Games Apps
Parental awareness of smartphone application rating systems

How are parents doing in monitoring the smartphone video games that their children play? Data from ESA (2021) reveals that:

How active are parents in overseeing or participating in their child's smartphone playing?

ESA's research (ESA, 2021) reveals that the majority of parents play an active role in the game activities of their children who are video game players:

Smartphone games that global players downloaded most

Moving on to the games that smartphone video game players pick to play, what are the top titles that gamers played on their smartphones in 2020? Apptopia (2021) lists the following most downloaded game titles in 2020, worldwide:

264 million - Among Us!

227 million - Subway Surfers

218 million - Garena Free Fire

175 million - PUBG

171 million - Gardenscape

158 million - Roblox

155 million - Hunter Assassin

151 million - Tiles Hop

149 million - Brain Test

Smartphone games that US players downloaded most

In the case of US consumers, the choice titles for smartphone gamers in 2020 are the following (Apptopia, 2021):

The story is somewhat different when we examine the amount that smartphone gamers spend on video game apps, both worldwide and in the United States. Globally, the video game titles that won the most money vote from smartphone gamers are the following (Apptopia, 2021):

The list looks somewhat different among US smartphone game spenders as Roblox moves ahead of the pack (Apptopia, 2021):

The positives of smartphone video gaming and other interesting statistics

Bill Gates famously fell for Melinda Gates over a game of Clue. While many might have raised eyebrows over the revelation, many gamers (and those into social media) very well know that such occurrence is widespread. The trouble was that there just were no numbers to back it up for the longest time. This changed with the new research by ESA (2021), which included this aspect of gaming in its study. We highlight this finding in this section of our smartphone usage statistics worldwide. Here are what it says about the intriguing topic:

30% of players have met a good friend, spouse, or significant other through video games

40% - have met, through video games, people who they would not have met otherwise

The other positives that smartphone video game players take from playing video games are the following (ESA, 2021):

Smartphone Usage in eCommerce Statistics

Improved security and increasing trust in smartphone online payment gateways have pushed mobile commerce to more widespread mainstream use.

Mobile commerce highlights

Worldwide, mobile commerce is projected to reach $3.56 trillion in sales in 2021 (Statista, 2018)

This figure is equivalent to a 72.9% share of total retail sales worldwide (Statista, 2018)

In the US, smartphone retail mobile commerce is forecast to reach $432.24 billion in 2022 (eMarketer, 2019)

79% of smartphone users have made a purchase online using their smartphones in the last six months (OuterBox, 2021)

71% of in-store shoppers who use their smartphones for online research say their smartphones have become more important to their in-store experience (Simicart Blog, 2021)

53% of those who shop online every day rely on their smartphones to do so (Episerver, 2020)

Nearly 48% of daily shoppers across generations have significantly increased their reliance on smartphones for shopping in the last year (Episerver, 2020)

48% of buyers use their smartphones to start searching about the product or service they are interested in. (SimiCart, 2021)

In 2019, more than half of US smartphone users made at least one online purchase from their smartphone. (eMarketer, 2019)

Over the same year, each individual smartphone shopper spent $1,763 on average (eMarketer, 2019)

25% of consumers use their smartphones to research a specific product or service multiple times per week (Episerver, 2020)

In 2020, 18% of consumers used their smartphones to complete a purchase multiple times per week, up from 16% in 2019 (Episerver, 2020)

Almost 40% of all ecommerce purchases during the 2018 holiday season were made on a smartphone (OuterBox, 2021)

As the figures below from Statista (2018) show, mobile commerce sales worldwide have been steadily increasing from 2016 to 2021:

As a share of total ecommerce sales worldwide, those figures translate to the following percentage share over the same period (Statista, 2018):

Meanwhile, consumers are increasingly relying on their smartphones to purchase from online retailers. Their aggregate spending has translated to the following yearly growth in smartphone retail commerce sales from 2018 to 2022 (eMarketer, 2019):

Share of smartphone-first shoppers by generation

People across generations indicate varying degrees of propensity to turn to their smartphones when buying online. The numbers, according to Episerver (2020) are:

Mobile payments adoption by country

Expectedly, the biggest economies lead the global adoption of mobile payments. Chinese consumers are especially eager to use the technology. In cities, notably, adoption rates hit the 90s (Business of Apps, 2021).

81.1% - China

37.6% - India

29.0% - United States

25.3% - Japan

21.1% - Italy

19.1% - United Kingdom

17.2% - Russia

15.6% - France

12.5% - Germany

Mobile commerce-related activities that US smartphone owners have done in the past month

Data from eMarketer (2019) lays the groundwork for the numbers below, categorized by gender and age.

Male

Female

18-34 years old

35-54 years old

55+ years old

Total

Mobile payments highlights

The surge in smartphone usage by consumers for mobile commerce is not lost to marketers. Nothing beats insight gained straight from your target audience, and the data on smartphone app usage by consumers serves just this purpose. Regarding this:

82% of US senior digital marketers considered their first-party mobile app analytics data to be "very important" to their marketing and advertising decisions (Advertiser Perceptions & MightyHive, 2019)

Shopping apps that smartphone users download the most

Smartphone shopping apps and mobile commerce go hand-in-hand. By January 2021, the following apps are what smartphone shoppers downloaded the most, according to Statista:

Google Play store (Statista Research Department, 2021)

Apple App Store (Statista Research Department, 2021)

Smartphone Usage in Banking and Finance Statistics

Mobile banking heralds the arrival of full digitalization in the banking and finance sector. Eschewing the daunting paperwork that traditional banking is known for-from registration, deposit or withdrawal transactions, money transfers, and payment of bills-it offers the ultimate in flexibility and convenience to consumers without having to leave their homes and fight the long lines awaiting them at the nearest branch of their bank.

Highlights

Finance app costs by platform, 2020 (Liftoff & App Annie, 2021)

In summary, the 2020 cost of install ($2.45) and registration ($7.96) rose a third from 2019. Meanwhile, activations ($9.78) dropped 5% from 2019. Android platforms cost considerably less than their iOS counterparts, from installation to activation. As a result, Android users are shown to be 2x more likely to convert than iOS users.

Android

iOs

Finance app conversion by platform, 2020 (Liftoff & App Annie, 2021)

Fintech app conversion rates (25%) increased a third from 2019. As more consumers see the benefits of fintech apps, more of them chose to activate the apps readily.

Android

33.4% - ITA registration

27.9% - ITA activation

iOS

21.9% - ITA registration

16.0% - ITA activation

Effects of the COVID-19 pandemic on mobile banking

Banking app revenue 2015-2020

Mobile banking provides the convenience of traditional banking sans the hassles of physical presence, travel, and cumbersome paperwork, and waiting lines. Their emergence around the mid-2010s was welcomed by people who were ready for their offerings (Business of Apps, 2021)

Leading neobank apps by revenue

More features and options in banking services have won over more customers. Millions are switching to the neobanks, with the following brands heading the list by revenue (Business of Apps, 2021)

While SoFi appears to have a substantial lead in revenue accounting, not many investors are thrilled to see student loans and repayments making up the bulk of its revenue portfolio. Using the more dependable average deposit vs revenue metric, the following banks come out on top (Business of Apps, 2021)

Leading neobank apps by revenue (billion) vs average customer deposit (monthly)

Leading neobank apps by valuation

By virtue of having the largest potential markets, Chime and NuBank take the lead in this list. Monzo and Nu26, however, are hot on their trails (Business of Apps, 2021)

Leading neobank apps by number of users

Operating in South America gives NuBank the advantage in this list. In a continent where traditional banks are feared for high interest rates and sneaky hidden fees on every transaction, NuBank is simply a breath of fresh air, if not a total savior. Revolut, meanwhile, is actively propping up investments and has recently added a cryptocurrency exchange module to the platform. attracting a new segment of clients to its app (Business of Apps, 2021).

Mobile money in 2020

The State of the Industry Report on Mobile Money 2021 by GSM provides a deep look into the state of the mobile money ecosystem worldwide. Here is a snapshot of the report (GSMA, 2020):

1.2 billion - registered mobile money accounts, up 13% from 2019

$2 billion - processed daily by the mobile money industry

300 million - monthly active accounts, up 17% from 2019

5.2 million - unique agent outlets globally

$1 billion - international remittances processed per month, up 65% from 2019

310 mobile money deployments live in 96 countries

$500 million - digitized per day by agents globally

41 billion - transaction volume, up 15% from 2019

$767 billion - transaction value, up 22% from 2019

9.1 million - registered agents, up 14% from 2019

4.8 million - active agents, up 18% from 2019

The world's biggest mobile payment platforms by number of active users

Vast population and the wide availability of technology propelled China to the top of the leaderboard in terms of the number of people using mobile platforms (Merchant Savvy, 2020)

Smartphone Usage in Photography Statistics

Nobody ever expected feature phones equipped with cameras to ever challenge dedicated cameras in image quality. The release of the first smartphones-first with the iPhone in 2007 and then the first Android phone, the T-Mobile G1, more popularly known as the HTC Dream, in September 2008-changed all that. As revolutionary sensors and image-enhancing algorithms keep improving regularly, smartphones have pushed traditional camera manufacturers to a corner. How bad is it? From Felix Richter of Statista and 3D Insider come the following numbers:

Worldwide camera shipments by camera powerhouse names like Nikon, Canon, and Olympus dropped by 87% between 2010 and 2019, wiping out 40 years of growth (Richter, F., 2020)Worldwide digital camera shipments by CIPA members from 2010 to 2019 are as follows:

121.5 million - 2010

115.5 million - 2011

98.1 million - 2012

62.8 million - 2013

43.4 million - 2014

35.4 million - 2015

24.2 million - 2016

25.0 million - 2017

19.4 million - 2018

15.2 million - 2019

From 2017 to 2018 alone, camera sales figures dropped by around 24% (3D Insider, 2020)

The sales of fixed-lens digital cameras have dropped by 22% from 2018 to 2019-indeed, the market for point-and-shoot fixed lens cameras has become virtually nonexistent because of consumer preference for smartphone photography (3D Insider, 2020)

The market value of mirrorless cameras has become the most valuable in the camera industry, surpassing that of DSLR cameras. More DSLR camera units are purchased, but mirrorless cameras cost almost twice: $980 vs. $532 on average (3D Insider, 2020)

Sales of digital cameras were estimated to drop by 23% from 2019 (3D Insider, 2020)

Sales of fixed lens digital cameras are expected to be worse, dropping by 29% (3D Insider, 2020)

In 2020, the market size of the US photography industry was worth an estimated $11.2 billion. This may seem much, but it does not reveal the fact that the industry has been growing at a paltry 1.1% since 2015-all due to smartphone sales eating away much of camera purchases (3D Insider, 2020)

On the other hand, the global value of the industry is estimated to have suffered a 2.1% decline, from $36.9 billion in 2019 to $36.1 billion in 2020. (3D Insider, 2020)

To stave off the plunging sales of dedicated cameras due to increasing consumer preference for smartphones, camera makers introduced the novel mirrorless cameras. The results, however, barely delivered the desired outcome:

Mirrorless cameras only spurred a 2% growth in the dedicated camera industry (3D Insider, 2020)

The rise of smartphone photography

Consider the following statistics as validating the emergence and rise of smartphones as a legitimate contender for photography:

1.2 trillion - the number of digital photos taken in 2017 (Moblivious, 2019)

85.0% taken using smartphones

10.3% used digital cameras

4.7% used tablets

86% of Americans consider the quality of the camera whenever they buy a new smartphone (3D Insider, 2020)

There is no shortage of smartphone brands with impressive, revolutionary camera technology-and they're constantly evolving and improving by leaps and bounds. As they apply bigger lenses or simply use another groundbreaking photo technology, they're also taking advantage of the relentless developments in AI and machine learning technologies to improve image output quality. Another development, mobile filmmaking, is taking shape.

Currently, there have been released 11 films that used smartphones to shoot them (Welk, 2019).

A report from Suite4Analytics sheds some light on why this has happened to the standalone, professional camera industry. Normally, we assume that professional photographers would grab their wide-lens cameras to shoot their photos. The survey of 881 professional photographers, however, says that this is not the case: many professionals now use smartphones instead, and increasingly for their professional photos. Digital Photography Review (2020) breaks it down thus:

The increasing use of smartphones in photography is more pronounced in taking non-professional photos. The same survey of 881 professional photographers reveal their preferred device in taking this type of photos:

29% - take 50% of their non-work photos with a smartphone

36% - take more than half of their personal pictures using their smartphones

In a revealing survey, still from Digital Photography Review (2020), professional photographers say that they use their smartphones in situations where their clients are not present.

Type of professional or business photography done with smartphone (n=317)

When it comes to their preferred device, the type of camera most often used (by a sample of 755 people) for taking non-professional photos are (Digital Photography Review, 2020):

Up next are the statistics on more general smartphone usage in photography statistics.

In the US, consumers buy smartphones based on the following priorities (Eksposure, 2020):

Eksposure (2020) also reveals the following least important features for American smartphone buyers:

Europeans and their love affair with smartphones

Projections for Smartphone Usage Statistics

The wider adoption of 5G, new smartphone hardware design, and increased penetration into underserved sectors will play a crucial part in determining the direction that smartphone usage will take shape among users worldwide. Streaming and gaming apps will take their fair share of a global audience still reeling from the effects of the COVID-19 pandemic.

What's next for smartphones?

Almost 15 years to the days of their releases, the iPhone and Android smartphone technologies have proven to be as disruptive, if not more, as they were envisioned to be. This collection of smartphone usage statistics certainly shows it. As the centerpiece of the modern lifestyle, they have forced entirely new industries to be built around them-from the smart chip industry, software industry, the music and entertainment industries, as well as news, games, and other media industries. The education industry, too, was not spared, as smartphones often assume the elearning tool of choice for global households that find it the only solution to remote learning situations enforced by governments under threat by the COVID-19 pandemic.

Entire businesses and marketing strategies are designed around how people use social media on their smartphones, with social media management platforms taking the lead. In turn, social marketers adept at their own trade are employing more powerful social media monitoring tools to help them generate more leads and paying customers. The list could go on, including the crucial role that social influencers are showcasing today.

The role of the gaming industry in shaping much of the consumer usage of their smartphones does not need an elaborate introduction. Along with the social media industry, the video game industry has won the hearts of smartphone owners, downloading them by the billions and spending on mobile games by the billions too.

Together, social media and video gaming have bewitched billions of people by their charm. At home, in their workplaces, school, during commute time, and every possible break at school, people turn to them any chance they get. Alarm bells, however, began ringing everywhere as some of the people spend overly extended time immersed in their games and social media contacts. As a result, various think tanks, institutions, and technology watchdogs have emerged, calling out governments and industry leaders about generations probably risking their lives over the looming threat of technology addiction.

To be clear, smartphones and related technologies are not the problems. Psychologists agree that there is an underlying set of factors triggering it, from genetics to environmental conditions, and mental health conditions.

Moving forward, technology will relentlessly march on, as usual. Smartphones are relatively young. Who knows another one beckons in the horizon to replace it? Anyone?
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700 Essential Smartphone Usage Statistics: 2023 Data Review & Analysis - Financesonline.com

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In this article, we present the latest smartphone usage statistics in terms of consumer app spending, download preferences across major app categories, smartphone penetration rates, leading smartphone brands based on sales, and other key metrics.

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In an era where runway shows, highly anticipated drops, and celebrity photo shoots are all but inescapable, fashion forecasting and trend tracking is an endurance game. Identifying recurring themes is akin to a multilayered research project. But maybe the true results can only be found by looking beyond the confines of our micro-trend-ridden feeds for cold, hard data. That’s why Madé Lapuerta, the creator behind Data But Make It Fashion, is applying formulas to fashion.

“Putting quantifiable meaning behind trends has made the world of fashion feel more approachable for me,” Lapuerta says. “I wanted to bring logic and reasoning into something that is inherently subjective.” Her endeavor to translate fashion content into clear, conclusive metrics began in 2019. After watching McQueen, the documentary based on the life and career of Alexander McQueen, the data scientist felt moved to combine her knowledge in computer science and her passion for clothing. Lapuerta began experimenting with image-recognition models to detect recurring silhouettes, colors, and patterns in runway photos and sharing what she found on social media. “At first, it took a lot of throwing stuff at the wall to find out what people are really drawn to,” she shares. “I wanted to see what new, interesting insights I could form on this industry, and I learned that, like me, people want to see a concrete depiction of trends.”

Today, the 25-year-old creator conducts and shares studies on buzzworthy topics such as Taylor Swift’s complete history of Grammy gowns, fashion trends as recession indicators, and even average site-loading times of large luxury brands (Chanel wins for fastest) with her combined 280,000 followers across Instagram and TikTok. She creates engaging memes, graphs, and videos that break down her takeaways clear as day, leaving no room for trend confusion. For example, a pensive photo of Cher Horowitz from Clueless is captioned, “When people r saying denim maxi skirts are in style but u know interest in them has decreased by 20 percent this past month.” In another post, a photo from the ’90s of Kate Moss and Naomi Campbell dancing is captioned, “When people say Chanel bags are a bad investment but u know prices have increased over 660 percent since 1990.”

Of course, a knack for creating shareable content is not Lapuerta’s only secret weapon. Her analysis method involves image recognition and manual tagging in code with the aid of AI recognition models she developed herself. This is what the data analyst uses to determine what’s inarguably in style. (Perhaps to no one’s surprise, Lapuerta graduated from Harvard’s school of engineering.)

The Olympics of Lapuerta’s metrics-driven deep dives is fashion month, and the gold medal is her highly engaged audience. So, what is it about fashion’s current landscape that leads us to crave evidence around what is or isn’t actually trending? According to social media’s most unbiased fashion forecaster, an influx of subjective opinions and hot takes has created a call for black-and-white information.

“There’s nothing wrong with this, but a lot of creators or fashion folks are sharing their opinions online. And when I was starting to become interested in fashion, as someone who feels very nerdy and into computer science, it was hard for me personally to know what is actually going on here,” Lapuerta shares. “One moment maxiskirts are cute, and the next they’re out. But when I turn to data, I can form my own opinion based on facts.”

There’s a limit to what data can tell one about their own taste—personal style can and should be nuanced — but at the very least, it’s a starting point for understanding what’s out there. Lapuerta herself doesn’t base her buying decisions around her findings, but she does incorporate the facts into her understanding of what’s happening in fashion. “It’s not the end-all be-all,” she says of her analysis. “Just because something is trending doesn’t mean everyone should like it or wear it. But it helps to know.”

Lapuerta has tapped into a rare, not yet oversaturated category of fashion content: the objective kind. “People are really interested in the way fashion and larger societal sentiment are intertwined,” the data analyst reports. “When I post about the hemline index, which states that hemlines get longer as the economy falls, people get really excited.” Earlier this year, Lapuerta posted a graph that illustrated the correlation between the S&P 500 and the percentage of miniskirts shown in spring runway collections, accompanied with a caption insinuating that shorter hemlines may be on the horizon. The caption read, “While the latest runway collections predicted a ~28 percent rise in mini skirts for spring 2023, could things be looking up??” Commenters responded, “*buys mini skirt*” and “This account is my bible.”

In addition to backing up fashion theories, @databutmakeitfashion is also in the business of debunking. “There are always hypotheses and guesses about what’s in, and that’s interesting, but it’s not always right,” she says. One of Lapuerta’s top-performing posts of 2023 has been a graph that showed how, according to Google search data, the term quiet luxury rose in popularity by 1,230% between March and April of 2023. However, after running an analysis on more than a thousand looks from 2023 runway collections to track trends pertaining to quiet luxury, Lapuerta was surprised to find that logos, the antithesis of quiet luxury, were trending. “We’ve seen a consistent increase in logos on runways over the past four years,” she reports. “In spring 2023 shows, there was a 7% increase in logos on the runways.”

Evidently runway looks and consumer demand don’t always correlate. By dissecting the data, Lapuerta makes it clear that, similar to how our online echo chambers don’t always reflect what’s trending at large, runway trends aren’t always an accurate representation of what we’re actually wearing. Plus there are levels to this game. A trending item, such as a Chopova Lowena skirt, might become relevant due to its runway presence or commercial demand. But often it’s not until a smaller demographic of aspirational dressers, such as editors or industry icons, adopts the trend that consumers really want to buy it. In other words, a garment may enter our zeitgeists by way of ubiquitousness, but when it comes to what we want to wear, there’s nothing as powerful as who we see wearing it. It’s the Alexa Chung, Regina George, and Olsen twin effect, to name a few original converter culprits.

Beyond the topic of what to wear, Lapuerta’s audience is also looking to her for the facts on fashion ethics. “For instance, brands have talked a lot about reducing leather and fur, and a lot of customers get excited about that,” she says. “But leather was still in an average of 16% of the looks of spring 2023 collections.” Another data point Lapuerta continues to watch is diversity in body size on the runways. “The data shows that there is resistance from many legacy houses to embrace diversity, while newer brands continue to challenge them,” Lapuerta says. According to the creator, running tests to see which brands are following through on sustainability and diversity promises helps her and her audience understand where they want to shop. “Knowledge is power,” Lapuerta says. “And I’m putting knowledge out there so that we can make informed decisions.”

Along with highlighting trends, debunking theories, and shedding light on fashion ethics, Lapuerta has one more purpose behind Data But Make It Fashion—and this one is personal. “I used to think that in order to be a good engineer, I couldn’t be interested in fashion,” she says. “Whether someone is interested in fashion or data analytics, I want to make both feel more approachable.” After just four years of running the numbers, Lapuerta is helping thousands decide what to wear, pulling back the curtain on what’s truly trending, and making two typically intimidating fields feel more friendly—one fashion chart at a time.

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In an era where runway shows, highly anticipated drops, and celebrity photo shoots are all but inescapable, fashion forecasting and trend tracking is an endurance game. Identifying recurring themes is akin to a multilayered research project. But maybe the true results can only be found by looking beyond the confines of our micro-trend-ridden feeds for cold, hard data. That's why Madé Lapuerta, the creator behind Data But Make It Fashion, is applying formulas to fashion.

"Putting quantifiable meaning behind trends has made the world of fashion feel more approachable for me," Lapuerta says. "I wanted to bring logic and reasoning into something that is inherently subjective." Her endeavor to translate fashion content into clear, conclusive metrics began in 2019. After watching McQueen, the documentary based on the life and career of Alexander McQueen, the data scientist felt moved to combine her knowledge in computer science and her passion for clothing. Lapuerta began experimenting with image-recognition models to detect recurring silhouettes, colors, and patterns in runway photos and sharing what she found on social media. "At first, it took a lot of throwing stuff at the wall to find out what people are really drawn to," she shares. "I wanted to see what new, interesting insights I could form on this industry, and I learned that, like me, people want to see a concrete depiction of trends."

Today, the 25-year-old creator conducts and shares studies on buzzworthy topics such as Taylor Swift's complete history of Grammy gowns, fashion trends as recession indicators, and even average site-loading times of large luxury brands (Chanel wins for fastest) with her combined 280,000 followers across Instagram and TikTok. She creates engaging memes, graphs, and videos that break down her takeaways clear as day, leaving no room for trend confusion. For example, a pensive photo of Cher Horowitz from Clueless is captioned, "When people r saying denim maxi skirts are in style but u know interest in them has decreased by 20 percent this past month." In another post, a photo from the '90s of Kate Moss and Naomi Campbell dancing is captioned, "When people say Chanel bags are a bad investment but u know prices have increased over 660 percent since 1990."

Of course, a knack for creating shareable content is not Lapuerta's only secret weapon. Her analysis method involves image recognition and manual tagging in code with the aid of AI recognition models she developed herself. This is what the data analyst uses to determine what's inarguably in style. (Perhaps to no one's surprise, Lapuerta graduated from Harvard's school of engineering.)

The Olympics of Lapuerta's metrics-driven deep dives is fashion month, and the gold medal is her highly engaged audience. So, what is it about fashion's current landscape that leads us to crave evidence around what is or isn't actually trending? According to social media's most unbiased fashion forecaster, an influx of subjective opinions and hot takes has created a call for black-and-white information.

"There's nothing wrong with this, but a lot of creators or fashion folks are sharing their opinions online. And when I was starting to become interested in fashion, as someone who feels very nerdy and into computer science, it was hard for me personally to know what is actually going on here," Lapuerta shares. "One moment maxiskirts are cute, and the next they're out. But when I turn to data, I can form my own opinion based on facts."

There's a limit to what data can tell one about their own taste-personal style can and should be nuanced - but at the very least, it's a starting point for understanding what's out there. Lapuerta herself doesn't base her buying decisions around her findings, but she does incorporate the facts into her understanding of what's happening in fashion. "It's not the end-all be-all," she says of her analysis. "Just because something is trending doesn't mean everyone should like it or wear it. But it helps to know."

Lapuerta has tapped into a rare, not yet oversaturated category of fashion content: the objective kind. "People are really interested in the way fashion and larger societal sentiment are intertwined," the data analyst reports. "When I post about the hemline index, which states that hemlines get longer as the economy falls, people get really excited." Earlier this year, Lapuerta posted a graph that illustrated the correlation between the S&P 500 and the percentage of miniskirts shown in spring runway collections, accompanied with a caption insinuating that shorter hemlines may be on the horizon. The caption read, "While the latest runway collections predicted a ~28 percent rise in mini skirts for spring 2023, could things be looking up??" Commenters responded, "*buys mini skirt*" and "This account is my bible."

In addition to backing up fashion theories, @databutmakeitfashion is also in the business of debunking. "There are always hypotheses and guesses about what's in, and that's interesting, but it's not always right," she says. One of Lapuerta's top-performing posts of 2023 has been a graph that showed how, according to Google search data, the term quiet luxury rose in popularity by 1,230% between March and April of 2023. However, after running an analysis on more than a thousand looks from 2023 runway collections to track trends pertaining to quiet luxury, Lapuerta was surprised to find that logos, the antithesis of quiet luxury, were trending. "We've seen a consistent increase in logos on runways over the past four years," she reports. "In spring 2023 shows, there was a 7% increase in logos on the runways."

Evidently runway looks and consumer demand don't always correlate. By dissecting the data, Lapuerta makes it clear that, similar to how our online echo chambers don't always reflect what's trending at large, runway trends aren't always an accurate representation of what we're actually wearing. Plus there are levels to this game. A trending item, such as a Chopova Lowena skirt, might become relevant due to its runway presence or commercial demand. But often it's not until a smaller demographic of aspirational dressers, such as editors or industry icons, adopts the trend that consumers really want to buy it. In other words, a garment may enter our zeitgeists by way of ubiquitousness, but when it comes to what we want to wear, there's nothing as powerful as who we see wearing it. It's the Alexa Chung, Regina George, and Olsen twin effect, to name a few original converter culprits.

Beyond the topic of what to wear, Lapuerta's audience is also looking to her for the facts on fashion ethics. "For instance, brands have talked a lot about reducing leather and fur, and a lot of customers get excited about that," she says. "But leather was still in an average of 16% of the looks of spring 2023 collections." Another data point Lapuerta continues to watch is diversity in body size on the runways. "The data shows that there is resistance from many legacy houses to embrace diversity, while newer brands continue to challenge them," Lapuerta says. According to the creator, running tests to see which brands are following through on sustainability and diversity promises helps her and her audience understand where they want to shop. "Knowledge is power," Lapuerta says. "And I'm putting knowledge out there so that we can make informed decisions."

Along with highlighting trends, debunking theories, and shedding light on fashion ethics, Lapuerta has one more purpose behind Data But Make It Fashion-and this one is personal. "I used to think that in order to be a good engineer, I couldn't be interested in fashion," she says. "Whether someone is interested in fashion or data analytics, I want to make both feel more approachable." After just four years of running the numbers, Lapuerta is helping thousands decide what to wear, pulling back the curtain on what's truly trending, and making two typically intimidating fields feel more friendly-one fashion chart at a time.

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This Account Answers the Question: What Can Data Tell Us About Fashion?

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Software engineer Madé Lapuerta is decoding trends, one statistic at a time.

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Brand value of the leading 10 most valuable luxury brands worldwide in 2022

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Brand value of the leading 10 most valuable luxury brands worldwide in 2022

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Most valuable luxury brands worldwide 2022 | Statista

This statistic depicts the brand value of the leading 10 most valuable luxury brands worldwide in 2022. In that year, Chanel was the third most valuable luxury brand worldwide with a brand value of about 53 billion U.S. dollars.

Luxury goods

The global luxury goods industry, which includes drinks, fashion, cosmetics, fragrances, watches, jewelry, luggage and handbags, has been on an upward climb for many years. Although the technical term 'luxury good' is independent of the goods' quality, they are generally considered to be goods at the highest end of the market in terms of quality and price. Luxury goods manufacturers meet consumer demand by focusing on brand, aesthetics, quality materials, superior craftsmanship and pricing to transform everyday objects into status symbols. The industry rises and falls with the gross domestic product (GDP), seeing demand climb in times of economic stability and plummeting in unfavorable economic climates. The United States has long been the largest regional market for luxury goods and it was estimated to continue to be the leading personal luxury goods market in 2020, with a value of 55 billion euros.

LVMH (Louis Vuitton Moet Hennessy) was the most valuable luxury brand in the world, with a brand value of about 124.3 billion U.S. dollars in 2022. The LVMH Group's total revenue for the 2021 fiscal year was about 64.2 billion euros. Moët Hennessy Louis Vuitton, more commonly referred to as LVMH Group, is a French luxury goods conglomerate. The company is primarily known for its fashion house, known as Louis Vuitton, named after its founder. The conglomerate operates globally, selling luxury leather goods, handbags, ready-to-wear fashion, and other fashion accessories. Since 1989, the company has been run by Frenchman Bernard Arnault, following the merger of the luxury goods producer with champagne producer Moët & Chandon and cognac manufacturer Hennessy.

New markets and segments are giving the industry growth points. One challenge for luxury companies is to maintain brand equity and cultivate their customer relationships. As luxury expands into more industries, expect a more mature segmented market. As a result, consumers should also become more rational.

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STRONG BRAND IDENTITY, CREATIVITY AND DISCIPLINED 

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STRONG BRAND IDENTITY, CREATIVITY AND DISCIPLINED 

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Milan, 27 July 2023 – The Prada S.p.A. Board of Directors today reviewed and approved the Consolidated Financial Results for the First Half ended 30 June 2023. Key highlights (growth percentage at constant currency) • Creative focus, innovation and a clear interpretation of contemporaneity continue to strengthen brand identity and resonance • Net Revenues of €2,232 mln, +20% yoy • Retail Sales of €1,975 mln, +21% yoy, driven by like-for-like full price sales. Prada +18% yoy and Miu Miu +50% yoy • Rebound in Asia Pacific continued, with Retail Sales +25% yoy; Europe +24%; Americas -1%; Japan +49%; Middle East +14% • Double-digit growth across all product categories: Leather Goods +12% yoy, RTW +36%, and Footwear +20% • Continued profitability improvement with EBIT Margin of 22.0%, notwithstanding higher investments; EBIT of €491 mln • Solid balance sheet with Net Cash Position of €283 mln Patrizio Bertelli, Prada Group Chairman and Executive Director, commented: “The semester ends with solid results for the Prada Group, thanks to the desirability of its brands and to disciplined execution. Our globally balanced distribution allow us to capture growth despite ever-evolving industry demand dynamics. We are pleased with the quality of Prada’s continued growth and with the remarkable performance of Miu Miu. We will remain vigilant and nimble, ready to deal with different macroeconomic and demand scenarios that may materialise ahead. Our brands retain vast growth potential; our strategy is clear, and our reinforced organisation is well equipped to execute.” Andrea Guerra, Group Chief Executive Officer, added: “Q2 was another positive quarter on top of a solid Q1. Retail growth continued to be driven by like-for-like full price sales, with Prada remaining on a sound trajectory and Miu Miu reporting a remarkably strong performance, thanks to a strengthened identity and increasing visibility. The Group’s profitability further increased while we continued to consolidate our brands’ desirability with higher investments. We are still at the beginning of our strategic journey: we need to act with a long-term perspective, continuing to invest behind our brands, maintaining maximum focus on retail execution and productivity. For the current year, we retain our ambition to deliver solid, sustainable and above-market growth, considering a more challenging comp base in Q3, and some Covid restrictions during Q4 2022.” Key figures H1-22 € mln H1-23 € mln change at reported fx change at constant fx Net Revenues 1,901 2,232 +17% +20% Retail Sales 1,678 1,975 +18% +21% Wholesale Sales 194 210 +8% +9% Royalties 29 47 +66% +66% Gross Profit 1,477 1,793 +21% Margin 77.7% 80.3% EBIT Adjusted1 331 491 +49% Margin 17.4% 22.0% EBIT 305 491 +61% Margin 16.0% 22.0% Group Net Income 188 305 +62% Margin 9.9% 13.7% Cash Flow from Operations 321 509 Capital Expenditure 97 151 Net Operating Working Capital 680 723 Net Financial Position 179 283 Continued focus on brand desirability and client engagement Prada Menswear FW23 and SS24 as well as Prada Womenswear FW23 fashion shows confirmed excellent reception by all audiences. The highly successful “The Glass Age” campaign creatively reinterpreted and celebrated the iconic Prada Galleria bag; the introduction of novelties continued across product categories, with ongoing and broad-based success of Prada’s collections. Contributing to the dialogue with growing audiences, in the second quarter, Prada and Adidas unveiled the "adidas Football for Prada" collection. Throughout the semester the brand realised a number of successful activations, including dedicated events for the Eternal Gold fine jewellery collection, Prada Extends in Bangkok, Prada Mode in Tokyo, and the opening of the very impactful Prada Caffè at Harrods. Miu Miu’s standout performance was supported by the highly successful FW23 fashion show, the launch of the SS23 campaign with exceptional personalities, and continued investment to amplify brand awareness to a growing client base. Miu Miu consolidated formats, like the Miu Miu Women’s Tales as well as Miu Miu Select, continued to foster the relationship with the community on a global scale. The brand strategy remains focused on reinforcing brand codes, with a constant flow of contemporary collections that fuel desirability across all product categories. The “matelassé” leather and its dedicated campaigns resonated strongly, as demonstrated by the success of Wander and recently launched Arcadie bags. 1 EBIT Adjusted excludes Other non-recurring income and expenses. Adding to the client engagement initiatives of the brands, the Group continued to invest in the retail network upgrade at pace, with c.70 renovation projects completed in the semester, instrumental to elevate the client experience in store and to increase productivity. The Group ESG journey continues to progress Prada Group’s focus on vertical integration was reflected in the progress made in building an increasingly responsible business model, throughout the key areas of supply chain transparency, raw materials traceability, Scope 3 CO2 emissions reduction, chemicals management in industrial processes and a wider Water Conservation programme. The Group’s ongoing commitment to the ocean through the SEA BEYOND project continues, with the announcement on June 27 of a new enhanced partnership with IOC-UNESCO. Specifically, Prada Group will donate 1% of the proceeds of the Prada Re-Nylon collection to enrich the educational programme and extend the scope of SEA BEYOND towards two new areas of focus: support for ocean-related scientific research and humanitarian projects. Healthy and solid Retail Sales growth at Prada, further acceleration at Miu Miu (growth percentage at constant currency) The Retail channel continued to be the engine of growth in the semester, with sales up +21% yoy at constant exchange rates, driven by like-for-like full price sales. In the second quarter Retail Sales increased by +19%, building on a strong first quarter at +23%. Compared with the same period of 2022, Retail Sales of the Prada brand in H1-23 increased by +18%; in the second quarter, revenue growth increased by +15%, with more moderate but solid pace compared to the +21% of the first quarter, on a high basis of comparison, with the exception of China. Miu Miu reported Retail Sales growth of +50% in the semester, with the second quarter in further acceleration at +57% versus the +42% of the first quarter, an excellent performance supported by the higher exposure to China and Asia. At Group level, growth was balanced across Leather Goods (+12%), Ready-To-Wear (+36%), and Footwear (+20%) categories. Retail Sales by geography The Group delivered double-digit growth across all regions, excluding Americas, in the first six months of 2023. Asia Pacific saw Retail Sales up +25% in H1-23, thanks to the acceleration in mainland China, Hong Kong and Macau, supported by the low basis of comparison of 2022, when China was affected by heavy restrictions in April and May, then lifted H1-22 € mln H1-23 € mln change at reported fx change at constant fx Asia Pacific 590 716 +21% +25% Europe 486 582 +20% +24% Americas 360 361 0% -1% Japan 161 224 +38% +49% Middle East 80 92 +15% +14% Retail Sales 1,678 1,975 +18% +21% from June. Europe continued to register elevated growth in the semester, with Retail Sales up +24%; despite the very challenging comparatives, Europe has therefore continued to display solid trends, supported by healthy local demand and high levels of tourism. In the Americas, H1-23 Retail Sales ended at -1% yoy; the North American client cluster, that has been showing strength for a prolonged period, continued to grow throughout the semester, including in the second quarter. Japan was the best performing region in the semester, up +49% yoy, benefitting from the Group’s recent investments in the retail network and a strengthened organisation, successfully capitalising on strong brand appeal, solid domestic demand and increasing tourism flows. Middle East also delivered a solid growth performance, up +14% yoy

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Prada Group’s revenues rose 17 percent excluding currency shifts to €3.3 billion in the first nine months of the year, the Milanese fashion company said Tuesday.

Third-quarter sales in the group’s retail stores rose 10 percent, less than half the growth rate of the first-half but still maintaining a double-digit pace on top of record sales last year.

Sales in North America were broadly stable, falling 1 percent in a market where rising interest rates and slower economic growth have provoked steep declines among some rivals.

“In an uncertain geopolitical and economic backdrop that requires us to stay vigilant, we continue to see positive momentum in the business and strong excitement around our brands,” chief executive Andrea Guerra said.

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Prada Group's revenues rose 17 percent excluding currency shifts to €3.3 billion in the first nine months of the year, the Milanese fashion company said Tuesday.

Third-quarter sales in the group's retail stores rose 10 percent, less than half the growth rate of the first-half but still maintaining a double-digit pace on top of record sales last year.

Sales in North America were broadly stable, falling 1 percent in a market where rising interest rates and slower economic growth have provoked steep declines among some rivals.

"In an uncertain geopolitical and economic backdrop that requires us to stay vigilant, we continue to see positive momentum in the business and strong excitement around our brands," chief executive Andrea Guerra said.
Learn more: Lorenzo Bertelli: The Prince of Prada Prepares to Take the Wheel The 35 year-old former racecar driver - son of designer Miuccia Prada and the company's chairman Patrizio Bertelli - is restructuring the Milanese group from the inside out. 'Everything's changing so that everything can stay the same,' the BoF 500 cover star said about readying Prada for its next chapter.

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Prada Reports Q3 Retail Sales Up 10 Percent

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Prada Group's revenues rose 17 percent excluding currency shifts to €3.3 billion in the first nine months of the year.

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In 2022, the Prada (HKSE:1913.HK -5.43%) Group’s annual revenue skyrocketed to its highest figure to date: €4.2 billion EUR ($4.4 billion USD). The record-setting number, which marks a 21% increase from last year’s reported figure, surpassed the conglomerate’s 2013 revenue peak, according to the Milanese luxury group’s financial report.

The company’s retail sales jumped by 24% to €3.7 billion EUR ($3.9 billion USD), while its operating profit increased by 59% to €776 million EUR ($821 million USD) — both of which are a result of “high desirability” among consumers for both the Prada and Miu Miu brands. Across categories, the company experienced growth: leather goods climbed 18%; ready-to-wear increased by 27%, and footwear grew by 29% when compared to last year.

Since 2020, when Raf Simons joined Miuccia Prada at the label’s helm as co-creative director, Prada has driven increased demand with re-merchandised stores, a staple lineup of nylon goods and more aggressive usage of its emblematic triangle logos across all categories. Similarly, Miu Miu has found its place among fashion’s top tier, thanks to its signature mini skirts and viral ballet flats, among myriad popular products.

Notably, in Q4 2022, the Prada Group was the only luxury conglomerate to see its two leading brands chart in the top five on the Lyst Index, with Prada ranking first place and Miu Miu taking fourth. To top it off, Lyst also named Miu Miu the “Brand of the Year.”

“Prada Group delivered excellent results in 2022, underpinned by brand momentum, greater client engagement and rigorous strategy execution,” executive director Patrizio Bertelli said in a statement.“The retail channel drove our performance, achieving strong and broad-based organic growth at both Prada and Miu Miu. We performed well across all product categories and geographies, more than offsetting weakness in China due to COVID-19.”

“We continued to develop our sustainability capabilities and activities, ensuring they remained linked to the identities of our brands and relevant to our clients,” he added. “In 2022, we further strengthened our positioning and our organization, and in the current year we will accelerate the execution of our strategy. We intend to stay on a path of steady and sustainable growth as we work towards the full potential of our brands.”

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In 2022, theGroup's annual revenue skyrocketed to its highest figure to date: €4.2 billion EUR ($4.4 billion USD). The record-setting number, which marks a 21% increase from last year's reported figure, surpassed the conglomerate's 2013 revenue peak, according to the Milanese luxury group's financial report.

The company's retail sales jumped by 24% to €3.7 billion EUR ($3.9 billion USD), while its operating profit increased by 59% to €776 million EUR ($821 million USD) - both of which are a result of "high desirability" among consumers for both the Prada and Miu Miu brands. Across categories, the company experienced growth: leather goods climbed 18%; ready-to-wear increased by 27%, and footwear grew by 29% when compared to last year.

Since 2020, when Raf Simons joined Miuccia Prada at the label's helm as co-creative director, Prada has driven increased demand with re-merchandised stores, a staple lineup of nylon goods and more aggressive usage of its emblematic triangle logos across all categories. Similarly, Miu Miu has found its place among fashion's top tier, thanks to its signature mini skirts and viral ballet flats, among myriad popular products.

Notably, in Q4 2022, the Prada Group was the only luxury conglomerate to see its two leading brands chart in the top five on the Lyst Index, with Prada ranking first place and Miu Miu taking fourth. To top it off, Lyst also named Miu Miu the "Brand of the Year."

"Prada Group delivered excellent results in 2022, underpinned by brand momentum, greater client engagement and rigorous strategy execution," executive director Patrizio Bertelli said in a statement."The retail channel drove our performance, achieving strong and broad-based organic growth at both Prada and Miu Miu. We performed well across all product categories and geographies, more than offsetting weakness in China due to COVID-19."

"We continued to develop our sustainability capabilities and activities, ensuring they remained linked to the identities of our brands and relevant to our clients," he added. "In 2022, we further strengthened our positioning and our organization, and in the current year we will accelerate the execution of our strategy. We intend to stay on a path of steady and sustainable growth as we work towards the full potential of our brands."

See Prada Group's full financial report here.

In more fashion news, adidas reported a $540 million USD loss in 2022 Q4 following the termination of its YEEZY partnership.

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Prada Reports Record-High Annual Revenue

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Prada Reports Record-High Annual Revenue: In 2022, the Milan-based conglomerate reported a 21% year-over-year increase in sales.

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The Prada S.p.A. net revenues of 4.2 billion euros, increased 21 percent in the year to December 31, 2022, while retail sales of 3.7 billion euros were up 24 percent.

The company reported continued strength across all product categories with leather goods up 18 percent, ready to wear, up 27 percent and footwear up 29 percent.

Gross margin was 78.8 percent of revenues, equal to 3.3 billion euros and adjusted EBIT margin was 20.1 percent of revenues, equal to 845 million euros.

Commenting on the trading results, Prada Group executive director, Patrizio Bertelli said: “Prada Group delivered excellent results in 2022, underpinned by brand momentum, greater client engagement and rigorous strategy execution. The retail channel drove our performance, achieving strong and broad-based organic growth at both Prada and Miu Miu. We performed well across all product categories and geographies, more than offsetting weakness in China due to Covid-19.”

Prada posts growth across core brands and markets

The company’s online sales saw double-digit growth, while penetration remained stable at 7 percent of retail Sales. Prada revenues grew by 25 percent and Miu Miu revenues were up 20 percent with a sharp acceleration in H2, driven by highly successful products, fashion shows and events.

Among geographies, the company said, Asia Pacific declined by 2 percent to 1,232 million euros impacted by multiple lockdowns in China offset by the strong performance in Korea and South-East Asia. The region returned to moderate growth in H2, with sales up 3 percent.

A strong performance in Europe saw growth of 63 percent, sustained by domestic sales and an uptick in tourism throughout the year. The Americas generated growth of 22 percent over the year with a normalisation in H2 due to the increasingly strong comparatives and outbound tourist flows. Japan grew 31 percent, with an acceleration in H2, and the Middle East also increased 23 percent in total.

“I have joined the Prada Group at an exciting time of evolution, and I have found great energy. We will further invest in the desirability of our brands, in the renovation of our retail network and in manufacturing capabilities. In 2023, we expect revenue growth to remain solid and above market average. China has restarted to be an engine of growth; however, in this ever-changing scenario, we will remain vigilant and maintain a disciplined approach to costs and capital allocation,” added Andrea Guerra, Prada Group chief executive officer.

The company’s board of directors plans to propose a dividend distribution of 0.11 euros per share.

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The Prada S.p.A. net revenues of 4.2 billion euros, increased 21 percent in the year to December 31, 2022, while retail sales of 3.7 billion euros were up 24 percent.

The company reported continued strength across all product categories with leather goods up 18 percent, ready to wear, up 27 percent and footwear up 29 percent.

Gross margin was 78.8 percent of revenues, equal to 3.3 billion euros and adjusted EBIT margin was 20.1 percent of revenues, equal to 845 million euros.

Commenting on the trading results, Prada Group executive director, Patrizio Bertelli said: "Prada Group delivered excellent results in 2022, underpinned by brand momentum, greater client engagement and rigorous strategy execution. The retail channel drove our performance, achieving strong and broad-based organic growth at both Prada and Miu Miu. We performed well across all product categories and geographies, more than offsetting weakness in China due to Covid-19."

Prada posts growth across core brands and markets

The company's online sales saw double-digit growth, while penetration remained stable at 7 percent of retail Sales. Prada revenues grew by 25 percent and Miu Miu revenues were up 20 percent with a sharp acceleration in H2, driven by highly successful products, fashion shows and events.

Among geographies, the company said, Asia Pacific declined by 2 percent to 1,232 million euros impacted by multiple lockdowns in China offset by the strong performance in Korea and South-East Asia. The region returned to moderate growth in H2, with sales up 3 percent.

A strong performance in Europe saw growth of 63 percent, sustained by domestic sales and an uptick in tourism throughout the year. The Americas generated growth of 22 percent over the year with a normalisation in H2 due to the increasingly strong comparatives and outbound tourist flows. Japan grew 31 percent, with an acceleration in H2, and the Middle East also increased 23 percent in total.

"I have joined the Prada Group at an exciting time of evolution, and I have found great energy. We will further invest in the desirability of our brands, in the renovation of our retail network and in manufacturing capabilities. In 2023, we expect revenue growth to remain solid and above market average. China has restarted to be an engine of growth; however, in this ever-changing scenario, we will remain vigilant and maintain a disciplined approach to costs and capital allocation," added Andrea Guerra, Prada Group chief executive officer.

The company's board of directors plans to propose a dividend distribution of 0.11 euros per share.

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Prada reports strong growth across brands and markets

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The Prada net revenues of 4.2 billion euros, increased 21 percent during the year, while retail sales of 3.7 billion euros were up 24 percent.

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PRDSY | Prada S.p.A. ADR Financial Statements - WSJ

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Prada S.p.A. ADR balance sheet, income statement, cash flow, earnings & estimates, ratio and margins. View PRDSY financial statements in full.

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PRADA SpA - GlobalData Intelligence Center - Retail

Company Summary

PRADA SpA (PRADA), a subsidiary of PRADA Holding BV, is a designer, manufacturer, and distributor of luxury products. The company offers handbags, leather goods, footwear, ready-to-wear apparel and accessories. It markets products under the brands Prada, Miu Miu, Car Shoe, Marchesi 1824, Luna Rossa, and Church's. PRADA sells its merchandise through franchise-operated stores, multi-brand stores, luxury department stores, independent retailers and online retailers. It also operates patisserie and duty-free stores. The company has operations across the Americas, Europe, Africa, the Middle East and Asia-Pacific. PRADA is headquartered in Milan, Italy.

The company reported revenues of (Euro) EUR4,200.7 million for the fiscal year ended December 2022 (FY2022), an increase of 24.8% over FY2021. In FY2022, the company’s operating margin was 18.5%, compared to an operating margin of 14.5% in FY2021. In FY2022, the company recorded a net margin of 11.1%, compared to a net margin of 8.7% in FY2021.

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Emerging Concept: New Status Symbols - WGSN Insight

Similarly, Prada Group has been heavily investing in culture since the establishment of Milan’s Fondazione Prada, an art and cultural centre hosting global emerging artists. In 2022, Prada collaborated with Formafantasma over a series of seminars on design and culture hosted at Milan Design Week and M+, a museum in Hong Kong’s West Kowloon Cultural District.

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Brand Strategy: Sports Marketing - WGSN Insight

Ahead of the 2023 FIFA Women’s World Cup, Prada (Italy) partnered with the Chinese Women’s National Football Team. To expand into sports and support youth athletes, it created outfits for the team and launched a series of initiatives set to continue through to the Paris 2024 Olympics

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https://www.wgsn.com/insight/article/6512dd48a5a6b8b0ab956728

Prada considers art and culture essential to its foundational values. The Italian luxury group is committed to a partnership with FAI, the country’s National Trust, to safeguard Italy’s artistic heritage, placing consistent investments in initiatives such as artwork restoration

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Revitalising the Department Store 2023 - WGSN Insight

Creating permanent restaurant space for popups provides a rich, holistic brand experience and creates new incentives to stay and linger. Harrods teamed with Prada to launch Prada Caffè at Harrods in London, modelled after Prada's Milan boutique mixed with a 1950s soda shop aesthetics

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Luxury Marketing Strategies 2023 - WGSN Insight

Prada: in April, the Italian house launched an AI social media campaign showcasing its new fragrance collection. Prada partnered with Berlin-based photographer Johann Besse to capture the bottles, which were inserted into an AI image generation tool with prompts that produced new versions. The shots were presented in an asymmetrical mirror mechanism, showcasing ingredients such as neroli buds.

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EDITED

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Turnover of the Italian luxury fashion company Dolce & Gabbana from 2011 to 2021

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Turnover of the Italian luxury fashion company Dolce & Gabbana from 2011 to 2021

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Dolce & Gabbana: turnover in 2011-2021 | Statista

Dolce & Gabbana is a luxury Italian fashion house founded in a small town cose to Milan in 1985 by the two Italian designers Domenico Dolce and Stefano Gabbana. This timeline illustrates the turrnover of the Italian luxury fashion company Dolce & Gabbana between 2011 and 2021. In 2021, the total turnover of Dolce & Gabbana amounted to over 747 million euros, a decrease of around 125 million euros compared to the previous year.
It is worth to be noticed that Dolce & Gabbana S.r.l. is a listed company part of two macro fashion groups. The first is Top15Moda which indicates the 15 major fashion companies with registered office in Italy in term of revenues. Some are worth to be mentioned as Armani, Dolce & Gabbana, Ferragamo, Max Mara, OTB-Diesel, Tod’s Della Valle, Prada and Valentino FG and Zegna. The second one is Aziende Moda Italia (AMI) which includes the 143 most important companies with registered office i

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Net profits or losses of the Italian luxury fashion company Dolce & Gabbana between 2014 and 2021

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Net profits or losses of the Italian luxury fashion company Dolce & Gabbana between 2014 and 2021

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The Italian fashion Group Dolce & Gabbana S.r.l., well known worldwide for designing, producing and distributing high-end clothing, leather goods, footwear, jewelry and accessories, reported a net loss of 32.4 million euros in 2021. In the year before, the company suffered its highest net loss of over 154 million euros.

Italian roots, global reach

Due to a very distinctive Mediterranean look, Dolce & Gabbana started attracting the attention of artists and famous people around the world already in the 90s. That, along with an expansive business strategy, allowed the company to become one of the leading Italian fashion companies in terms of turnover, which, despite yearly fluctuations, reached 747 million euros in 2021.

The Dolce & Gabbana brand

Established in 1985, Dolce & Gabbana grew quickly to become one of the main players in the global luxury goods sector , and thanks to continuous investments in foreign markets one of the most recognizable and desirable brands worldwide. As of 2020, Dolce & Gabbana had 24 million followers on Instagram, which made it one of the most followed Italian fashion brand on the social networking app.

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The global economy continues to recover from the pandemic, Russia's invasion of Ukraine and the cost-of-living crisis. In retrospect, the resilience has been remarkable. Despite war-disrupted energy and food markets and unprecedented monetary tightening to combat decades-high inflation, economic activity has slowed but not stalled. Even so, growth remains slow and uneven, with widening divergences.

The global economy is limping along, not sprinting.

According to our latest projections, world economic growth will slow from 3.5 percent in 2022 to 3 percent this year and 2.9 percent next year, a 0.1 percentage point downgrade for 2024 from July. This remains well below the historical average.

Headline inflation continues to decelerate, from 9.2 percent in 2022 on a year-over-year basis, to 5.9 percent this year and 4.8 percent in 2024. Core inflation, which excludes food and energy prices, is also projected to decline, albeit more gradually, to 4.5 percent next year. Most countries aren't likely to return inflation to target until 2025.

As a result, projections are increasingly consistent with a soft landing scenario, bringing inflation down without a major downturn in activity, especially in the United States, where our forecast increase in unemployment is now modest, from 3.6 percent to 3.9 percent by 2025.

But important divergences are appearing, leaving activity in some regions much below pre-pandemic projections. The slowdown is more pronounced in advanced economies than in their emerging market and developing counterparts. Among advanced economies, the US growth outlook has been revised up, with resilient consumption and investment, while euro area activity was revised downward. Many emerging market economies also proved unexpectedly resilient, with the notable exception of China, which faces growing headwinds from its real estate crisis and weakening confidence.

Three forces are at play:

The recovery in services is almost complete and the strong demand that supported services-oriented economies is now softening.

Tighter credit conditions are weighing on housing markets, investment, and activity, more so in countries with a higher share of adjustable-rate mortgages or where households are less willing, or able, to dip into their savings. Firm bankruptcies are increasing in some economies, although from historically low levels. Countries are now at different points in their hiking cycle: advanced economies (except Japan) are near the peak, while some emerging market economies that started hiking earlier, such as Brazil and Chile, have already started easing.

Inflation and economic activity are shaped by last year's commodity price shock. Economies heavily dependent on Russian energy imports saw a steeper increase in energy prices and a sharper slowdown. The passthrough from higher energy prices played a large role in driving core inflation higher in the euro area-unlike the United States, where core inflation pressures instead reflect a tight labor market.

Despite signs of softening, labor markets in advanced economies remain buoyant with historically low unemployment rates helping to support activity. Real wages are catching up, but there is scant evidence of a wage-price spiral. Further, many countries experienced a sharp-and welcome-compression in the earnings distribution, with the higher amenity value of flexible and remote work schedules reducing wage pressures for high earners.

Gauging risks

While some of the extreme risks-such as severe banking instability-have moderated since April, the balance remains tilted to the downside.

China's real-estate crisis could intensify, posing a complex policy challenge. Restoring confidence requires promptly restructuring struggling property developers, preserving financial stability, and addressing the strains in local public finance.

If China's real estate prices decline too rapidly, the balance sheets of banks and households will worsen, with the potential for serious financial amplification. Artificially supporting real estate prices may temporarily protect balance sheets, but this will crowd out other investment opportunities, reduce new construction, and hurt local government revenues through reduced land sales. Either way, China's economy must pivot away from growth that relies on credit for the real estate sector.

Meanwhile, commodity prices could become more volatile amid climate and geopolitical shocks, a serious risk to disinflation. Between June and late September, oil prices had increased by about 25 percent amid extended supply cuts by OPEC Plus, the Organization of the Petroleum Exporting Countries and selected nonmembers, before falling back by about 11 percent. Food prices remain elevated and could be further disrupted by an escalation of the war in Ukraine, inflicting greater hardship on many low-income countries. Geoeconomic fragmentation has also led to a sharp increase in the dispersion in commodity prices across regions, including critical minerals. This could pose serious macroeconomic risks, including to the climate transition, as we show in Chapter 3 of our latest World Economic Outlook.

And, while both underlying and headline inflation have decreased, they remain uncomfortably high. Near-term inflation expectations have risen markedly above target, although they now appear to be turning a corner. As Chapter 2 of the WEO details, bringing these near-term inflation expectations back down is critical to winning the battle against inflation.

In addition, fiscal buffers have eroded in many countries, with elevated debt levels, rising funding costs, slowing growth, and an increasing mismatch between the growing demands on the state and available fiscal resources. This leaves many countries more vulnerable to crises and demands a renewed focus on managing fiscal risks.

Finally, despite tightening monetary policy, financial conditions have eased in many countries, as detailed in the latest Global Financial Stability Report. The danger is of a sharp repricing of risk, especially for emerging markets, that would further strengthen the US dollar, trigger capital outflows, and increase borrowing costs and debt distress.

Policy priorities

Under our baseline scenario, inflation continues to recede as central banks maintain a tight stance and avoid easing prematurely. Once the disinflation process is firmly established, with decreasing near-term inflation expectations and inflation targets coming into sight, gradually cutting the policy rate will be appropriate, while maintaining a commitment to price stability.

Fiscal policy needs to rebuild buffers, including by removing energy subsidies, while still protecting the vulnerable. This will also aid disinflation. Fiscal and monetary policies pulled in the same direction last year as many pandemic emergency fiscal measures were unwound, but they are less aligned this year. The substantial widening of the fiscal deficit in the United States is most worrying, as fiscal policy should not be pro-cyclical, especially at this stage of the inflation cycle.

We should also return our focus to the dimming medium-term outlook. Global growth prospects are weak, especially for emerging market and developing economies. The implications are profound: a much slower convergence toward the living standards of advanced economies, reduced fiscal space, increased debt vulnerabilities and exposure to shocks, and diminished opportunities to overcome the scarring from the pandemic and the war.

With lower growth, higher interest rates and reduced fiscal space, structural reforms become key. Higher long-term growth can be achieved with a careful sequencing of reforms, starting with those focused on governance, business regulation and the external sector. These first-generation reforms help unlock growth and make subsequent reforms-whether to credit markets, or for the green transition-much more effective.

Multilateral cooperation can help ensure countries achieve better growth outcomes. Countries should avoid implementing policies that contravene World Trade Organization rules and distort international commerce. And countries should safeguard the flow of critical minerals, needed for the climate transition, and of agricultural commodities. Such "green corridors" would help reduce volatility and accelerate the green transition.

Finally, all countries should prevent geoeconomic fragmentation that impedes progress toward a shared prosperity. Instead, they should work to restore trust in rules-based multilateral frameworks that enhance transparency and policy certainty. A robust global financial safety net with a well-resourced IMF at its center is essential.

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Resilient Global Economy Still Limping Along, With Growing Divergences

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Likelihood of a soft landing has increased, but growth forecast is lowest in decades

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Global economy can be defined as the sum of activities that take place both within a country and between different countries. Each country is a separate unit, with its own industrial production, labor market, financial market, resources and environment. The globalization enabled and enhanced the development of international trade, finance, and migration of labor, where countries need to find common solutions and cooperate with one another. One of the effects of the globalization is that drastic changes in one country influence other countries. As a result, the COVID-19 pandemic and the Russia-Ukraine war have effected the whole global economy.

The rise of China

There are numerous indicators which allow to measure and analyze economic activity, in short economic indicators. One of the most important economic measures is gross domestic product (GDP), which is the total value of all goods and services manufactured within one year. Despite a downturn in 2020 following the COVID-19 pandemic, global GDP increased over the past decades, and is expected to continue to increase over the coming years. The United States was the country with the largest gross domestic product in 2021, followed by China, Japan, and Germany. These economies are expected to remain the dominant ones over the next years, but some of the highest growth rates are found in countries in the Global South. China's economic development is one of the most notable changes in the global economy over the past decades. The Asian country has gone from being a developing country to becoming the world's second largest economy and the world's leading exporter. This development has had a massive impact on the global economy and world politics, with an increasing diplomatic crisis between China and the United States.

Unemployment and rising inflation

In 2021, about 214 million people were unemployed worldwide, which was less than in 2020. The world region with the highest unemployment rate in 2021 was the Arab World. Some countries, such as Japan, South Korea, Germany, and Italy, are struggling with ageing populations, meaning that the share of the population in working age is decreasing. As a result, worker shortage can be an issue in these countries in the future, with some of them relying increasingly on migrant workers.

A a result of the Russian invasion of Ukraine, prices of goods and services increased rapidly through 2022. The global inflation rate was estimated to have reached nearly nine percent in 2022. In 2021, the price levels increased most significantly in Venezuela and Sudan, while the lowest inflation rates were reported in Samoa and Chad.

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Find the most relevant statistics and facts on the global economy

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Fashion consumer spending per capita worldwide 2020, by country | Statista

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This statistic shows a ranking of the estimated worldwide per capita consumer spending on clothing & footwear in 2020, differentiated by country.

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Luxury Fashion: market data & analysis | Statista

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Luxury Fashion: market data & analysis - Get the report with graphs and tables on statista.com!

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Ivanka Trump was deeply involved in her father's acquisition of Trump National Doral, one of the properties in the crosshairs of New York's attorney general.
David Yellen/The Forbes Collection

When Ivanka Trump takes the stand in her father's fraud case, she should have plenty to talk about.

I vanka Trump is expected to testify on Friday in a $250 million fraud case that the New York attorney general is waging against her father and his associates. That's bad news for Ivanka, who tried to get out of taking the stand. But it might be even worse news for her father, who employed Ivanka in his years-long con to convince the world that he had more money than he actually did.

The attorney general will have plenty of questions for Donald Trump's eldest daughter. Ivanka helped lead the acquisition of two assets at the center of the lawsuit, the Trump hotel in Washington, D.C. and the Trump National Doral golf resort in Miami. She also lived in another property caught up in the proceedings, a condo building named Trump Park Avenue in New York City.

But to fully understand Ivanka's involvement in her father's deceit, it helps to get inside the room where the lying took place. That's exactly where three Forbes journalists were in September 2015, when Donald Trump hosted them in Trump Tower as part of his quest to climb higher on the Forbes 400 list of America's richest people. Trump spouted off all sorts of nonsense that day, claiming his properties were more profitable, spacious and valuable than they actually were. In the middle of his pitch, the Republican frontrunner received a phone call. "Ivanka," said Trump, "my little Ivanka."

Nine minutes later, she entered the room: "Hiiii!"

"I was on a construction call with the Doral folks-they're excited you're coming down," Ivanka told her father. " Forbes actually did a very nice profile on that project."

"On Doral?" Donald Trump asked.

"Yeah," Ivanka responded.

With that, the two Trumps were tag-teaming a pitch about how much the golf resort was worth. Forbes had valued it at $225 million before debt, which the Trumps deemed far too low. "We'll make $75 million this year," Donald Trump said, even though the property would actually earn $14 million that year.

"150,000 square feet of meeting space," added Ivanka, opting to use a bigger figure than the ones listed in the Trump Organization's own materials (which said the property included "over 90,000 square feet of meeting space") and her not-yet-published book (which claimed "a hundred thousand square feet of meeting space").

Ivanka then noted that a different Forbes writer had said Doral's land alone was worth at least $1 billion. That was pretty much true. Another journalist, with a knack for golf coverage, had indeed authored a feature in the lifestyle spinoff of Forbes that said the land at Doral was "worth close to $1 billion." But that reporter apparently fell for a classic trick of the Trumps, who had a habit of noting the per-acre price of a smaller parcel and throwing out a puffed-up number of acres, thus leaving the impression that the property must have been more valuable than it actually was.

The three journalists inside Trump Tower that day, all specialists in investigating the fortunes of billionaires, were not about to fall for the same ruse. Trump had spent $150 million in 2012 buying Doral, which is less than 700 acres, according to property records-not the 800 that Ivanka and her father like to claim. Trump dumped more than $100 million into it, but his renovation did not seem to boost performance much. By 2015, Doral was earning only 13% more than it had in 2012, according to lending records, justifying the preliminary estimate of $225 million that Forbes ' number crunchers had calculated after consulting more than a half dozen golf and leisure experts.

"We have, like, no debt on it," Ivanka said, ignoring the $125 million of Deutsche Bank debt that encumbered the property.

"You guys have it valued-," her father started to say.

"-$119 [million]," cut in Allen Weisselberg, the longtime chief financial officer of the Trump Organization, calling out the amount of estimated equity after debt, rather than the $225 million asset valuation.

"That's a joke," Ivanka sniffed.

Later in the conversation, one of the Forbes journalists pointed out that there was a $106 million mortgage against the property, contradicting Ivanka's earlier claim. "That might be right," her father conceded, failing to mention the fact that there was a second tranche of $19 million in debt that made the total liabilities against the property $125 million.

"You know what we're paying in interest on that mortgage?" Donald Trump said. "Two percent."

Weisselberg chimed in: "Less."

"1.75%," Ivanka said.

Her father confirmed: "Yeah, 1.75%."

In fact, the mortgage rate on the property was 1.75% plus LIBOR, a benchmark that brought the total interest rate to 2.1% in 2015, according to a Trump Organization income statement later obtained by Forbes.

Why twist such small details? Because real estate valuations are composed of a million tiny inputs-square footage, acreage, mortgage balances and so on-that collectively determine what someone like Donald Trump is worth. Ivanka Trump, a devoted daughter, surely knew her father cared to his core about how much money other people thought he had.

Contacted for comment, a lawyer for Ivanka did not respond. An attorney for the Trump Organization did not provide answers to a list of questions.

Ivanka Trump will have to speak soon enough, though. Donald Trump's three oldest children are all expected to testify this week, with Donald Trump Jr. slated to take the stand Wednesday, followed by Eric Trump Thursday and Ivanka Trump on Friday. After a weekend break, the case should resume, with Donald Trump himself.

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Ivanka Trump Helped Her Dad Lie About His Net Worth

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When Ivanka Trump takes the stand in her father's fraud case, she should have plenty to talk about.

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Above all, the French group benefits from the sheer scale of its megabrand Louis Vuitton, setting in motion a virtuous cycle that powers profit generation, explains Luca Solca.