Forced labor, US economy among top concerns for fashion execs this year: report

Despite concern over the economy, a majority of respondents noted feeling optimistic about their business outlook over the next five years.

Dive Brief:

• An uncertain economy in the U.S. and managing forced labor risks are among the top  concerns for fashion executives this year, according to the Fashion Industry Benchmarking Study released last month.
• Another top concern among the survey respondents is shipping delays and supply chain disruptions. Some 17% of respondents said this was their top business challenge this year.
• Despite economic concerns, about 75% of respondents reported feeling optimistic or somewhat optimistic about their sourcing and business outlook over the next five years, an improvement from 69% a year ago, according to the report. Some 54% of respondents expect their companies’ profit margins to improve somewhat in 2024, according to the report.