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  "documentTitle": "The State of Fashion 2025",
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  "notes": "Data from BoF-McKinsey State of Fashion Executive Survey 2024 and 2025.",
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      "text": "Compared to the prior year, the number of executives that expect to increase prices dropped 17 percentage points (%points).\nNearly two thirds of executives expect volume growth in 2025, mostly in the low single digits.\nConsumers are tired of price increases.",
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      "text": "However, the drivers of growth are shifting. In the last few years, volume growth has slowed, or even declined in regions such as the US and Asia-Pacific. Now, in a reversal of recent years, leaders anticipate volumes, rather than price, will fuel growth.",
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      "text": "Executives are continuing to focus on sales growth in the year ahead. Nearly three out of four fashion leaders are prioritising sales growth over cost improvements, a slight uptick from the 2024 survey.",
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