The Glossy Podcast: Year Ahead 2025 – Industry Trends to Expect
Release Date: January 1, 2025
Hosts:
- Danny Parisi – Senior Fashion Reporter
- Jill Manoff – Editor-in-Chief
- Tatiana Pyle – Managing Editor
In the inaugural episode of Glossy's Year Ahead Podcast for 2025, host Danny Parisi engages in a comprehensive discussion with editors Jill Manoff and Tatiana Pyle. The trio delves into the anticipated trends and shifts within the fashion and luxury industries, touching upon political influences, market dynamics, and evolving consumer behaviors.
1. Navigating the Trump Administration's Impact
The podcast kicks off with an exploration of the potential ramifications of President Trump's inauguration on the fashion and luxury sectors. Danny Parisi anticipates a "very chaotic" administration, particularly concerning regulatory policies that could favor large corporations.
- Danny Parisi [02:13]:
"I think the Trump administration has signaled the complete opposite... it's like open season for big corporations."
Jill Manoff adds nuance by discussing regulatory looseness, particularly under potential appointees like RFK Jr., hinting at reduced oversight in areas such as supplements and social media.
- Jill Manoff [03:56]:
"We'Re gonna see... looser regulations on regulations around supplements and also in terms of... social media."
Tatiana Pyle highlights the uncertainty surrounding social media platforms, referencing ongoing discussions about TikTok bans and the rise of new platforms like Blue Sky.
- Tatiana Pyle [04:42]:
"What's going to happen? We've kind of been seeing some of the side effects from Trump... there's a new social platform called Blue Sky."
The conversation underscores the interconnectedness of political shifts and their direct influence on industry practices, especially regarding mergers, acquisitions, and regulatory compliance.
2. The State and Future of the Luxury Market
Shifting focus to the luxury sector, the panel discusses recent struggles within the industry, citing a Bain report that notes a 1% global shrink in the luxury market—a rare downturn.
- Danny Parisi [08:21]:
"Luxury market in general kind of globally shrank by like 1%, which has not happened in, I don't know, decades."
Jill Manoff attributes this decline to economic pressures, such as inflation and reduced consumer spending, leading to a loss of aspirational shoppers.
- Jill Manoff [09:52]:
"Aspirational shoppers... lost aspirational shoppers because everybody's struggling to make ends meet."
Tatiana Pyle observes a strategic pivot among luxury brands towards Asian markets, emphasizing growth opportunities in Japan and India.
- Tatiana Pyle [10:57]:
"A lot of it is going to be focused on building and continuing to build the Asian market."
The discussion also touches upon the resilience and adaptability of certain brands, suggesting a possible stabilization rather than a full rebound in luxury growth.
3. Resale and Rental: A Growing Niche
The panelist shifts the conversation to the burgeoning markets of resale and rental in fashion. Danny highlights significant growth in rental services, particularly with companies like Nuuly seeing a 48% increase in sales.
- Danny Parisi [14:18]:
"Rental that's not in the luxury space... Nuuly does not specialize in like super expensive clothing... a really strong kind of niche there for rental and resale."
Jill Manoff underscores the long-term potential of these markets, projecting resale to account for 10% of the global apparel market by 2025.
- Jill Manoff [17:57]:
"By 2025, expected to account for 10% of the global apparel market with growth ongoing from there in the double digits."
Tatiana Pyle notes the strategic moves by brands to enter the resale space, citing examples like Baze and Altazara, which are establishing their own resale channels to capture new consumers amid economic uncertainties.
- Tatiana Pyle [17:00]:
"It's a really smart way to really figure out and restrategize how to, how to acquire new consumers."
The conversation highlights resale and rental as essential strategies for brands to maintain profitability and consumer engagement in a fluctuating market.
4. Evolving Distribution Channels: From DTC to Brick-and-Mortar
The discussion transitions to the transformation of distribution strategies within the fashion industry. Danny Parisi observes a shift away from the Direct-to-Consumer (DTC) model, which has faced funding challenges, towards a more hybrid approach involving wholesale and marketplaces.
- Danny Parisi [21:22]:
"There is a lot of options for where brands can sell right now, and they're shifting a lot."
Tatiana Pyle points out a resurgence in brick-and-mortar retail, noting the opening of new mid to luxury stores in hotspots like Soho and the increasing consumer demand for in-person shopping experiences.
- Tatiana Pyle [23:09]:
"More people are going back into the store... there's a lot of movement."
Jill Manoff emphasizes the limitations of the DTC-only approach, especially for luxury brands seeking broader consumer reach and the complexities of personalization in an increasingly saturated market.
- Jill Manoff [24:11]:
"Brands cannot afford to do so and luxury brands even are, are they're finding their anyways they can't be so exclusive to reach today's modern consumer."
Danny Parisi and Jill discuss the phenomenon of "choice paralysis" in large marketplaces like Amazon, contrasting it with the curated experience of brick-and-mortar stores and specialized online platforms.
- Danny Parisi [25:45]:
"It's like being sold at you from all angles. It's like there's no way any of this is being like checked out for quality or something."
5. Bold Predictions for 2025
Concluding the episode, the hosts revisit their bold predictions for the coming year and present new forecasts for 2025.
Previous Predictions Review:
-
Jill Manoff: Predicted a shift towards valuing experiences over material possessions, which she deems was moderately accurate.
-
Danny Parisi: Anticipated an increase in publicly traded companies attempting to go private, citing Nordstrom's high-profile efforts as a partial realization of this trend.
-
Zofia (referred by Jill): Accurately forecasted the "Shein-ification" of the market, where fast-fashion models proliferate across various platforms.
New Predictions for 2025:
-
Tatiana Pyle: Foresees increased scrutiny and potential backlash against brands like Shein due to environmental and health concerns related to materials like polyester.
- Tatiana Pyle [32:23]:
"I do think that eventually people are going to stop buying Shein... because it can affect my health."
- Tatiana Pyle [32:23]:
-
Jill Manoff: Predicts a renaissance for malls, driven by a return to in-person shopping and the emergence of trendy, fast-fashion brands within these traditional retail spaces.
- Jill Manoff [33:56]:
"I'm calling 2025... the year of the mall."
- Jill Manoff [33:56]:
-
Danny Parisi: Expects significant mergers and acquisitions within the industry, facilitated by a more favorable regulatory environment and economic pressures forcing smaller companies to seek consolidation.
- Danny Parisi [36:10]:
"The mergers and acquisition season has begun."
- Danny Parisi [36:10]:
6. Looking Ahead
As the episode wraps up, the hosts express enthusiasm for the upcoming year's developments, including coverage of major events like NRF and New York Fashion Week. They invite listeners to engage with the podcast through ratings and reviews, promising continued insightful discussions on the intersection of technology, fashion, and luxury.
Final Remarks:
-
Danny Parisi [38:14]:
"Thank you both Jill and Tatiana. This was so fun. Thanks for giving me your predictions. We'll see next year."
-
Jill Manoff [37:39]:
"It'll be huge for glossy."
The episode serves as a forward-looking roadmap for industry stakeholders and enthusiasts, offering expert insights into the multifaceted challenges and opportunities anticipated in 2025.
