Four megatrends shaping societal evolution are rapid urbanisation, shifting demographics, hyper-globalisation and accelerated innovation.
The United Nations expects that by mid-century close to 70 per cent of the world’s population will live in cities and by 2030 more than 1.4 billion people could be aged over 60. Within eight years, there will be ten times more data generated worldwide, according to IDC.
The dire handling of materials, chemicals, water, emissions and waste poses a serious problem for the fashion industry. Each year the sector uses enough water to fill nearly 32 million Olympic swimming pools and emits carbon dioxide levels equivalent to 230 million cars, according to the Pulse of Fashion report. Meanwhile, consumers annually dump 92 million tonnes of clothing that could have been recycled.
“Projections show that in the worst case, the fashion industry will face distinct restrictions on one or more of its key input factors, leaving it unable to grow at the projected rate, and in the long run unable to continue its current operating model,” warns Eva Kruse, chief executive of non-profit Global Fashion Agenda.
Businesses have long generated data with nearly every operation, but until recently employee behaviour was not automatically tracked.
The opportunity to improve productivity has changed practice. Using monitoring technology, companies are discovering which parts of the office work well, what times staff are active and where people congregate.
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