The world is changing. Can fashion keep up?

Affordable luxury: It may sound like an oxymoron, but in an uncertain economy, it’s striking a chord with cautious consumers looking for value—and expecting more from the brands they buy. “Brands are actively thinking about the fact that people are shifting their spending,” according to McKinsey Senior Partner Gemma D’Auria. “If they want to stay relevant, they need to meet their customers where they are.” In this episode of The McKinsey Podcast, D’Auria and McKinsey Senior Partner Holger Harreis speak with Global Editorial Director Lucia Rahilly about , including what consumers want, where they’re finding it, and how fashion executives can use AI to enhance creativity, competitiveness, and the customer experience overall. Any unanswered questions about this episode? Send them our way at: TheMcKinseyPodcast@mckinsey.com Theme music composed, performed, and produced by Joy Ngiaw.See www.mckinsey.com/privacy-policy for privacy information