The pet industry in 2023, the growing halal beauty market and preparing for press previews. That and more on today’s episode.
Want to know what’s next? Listen to the show where our experts from around the globe unpack your biggest challenges. This week, WGSN’s Executive Editorial Director Bethan Ryder takes us to New York and Cape Town, where our forecasters give the lowdown about key categories and themes to invest in for 2023.
Watch the full episode below or read on for highlights of this episode:
Q: What are some key drivers moving the pet industry forward in 2023?
“Despite the current economic climate, the pet industry is proving to be resilient. Statista revealed that the global pet industry is expected to grow at a CAGR of 5.6% from 2021 to 2028. This growth is largely driven by the trend of the humanisation of pets, as well as new innovations in pet wellness and pet grooming. The humanisation of pets was the key focus at the 2022 Global Pet Expo, with brands emphasising ingredient simplicity and production transparency.”
– Angela Ringo, Senior Strategist, WGSN Interiors
Q: How can brands cater to the growing halal beauty market?
“The halal beauty market is booming with a global spend forecasted to reach $93bn by 2025. Brands should look beyond the hijab and offer scalp and hair treatments for those wearing hair coverings for multiple hours a day. Hijabi hair care is emerging as a category to treat symptoms of irritated scalp and hair loss for Muslims living in various climates.”
– Raeesa Brey, Researcher, WGSN
Q: What are the commercial retailers featuring in their press previews as key volume items for S/S 23?
“The key items are going to be wide-leg silhouettes, not just across denim because we know the shift away from the skinny style has been happening for a long time, but also across the chino, the classic work trouser and the cargo pant. Expect a return to the ponte pant for back to the office, but with at-home comfort in mind.”
– Sidney Morgan-Petro, Head of Retail & Buying, WGSN