Automation In The Luxury Fashion Industry Statistics

The global AI in fashion market was valued at USD 1,878.1 million in 2023 and is projected to reach USD 11,686.5 million by 2030, growing at a CAGR of 30.4% from 2024 to 2030 [1]

The global retail automation market size was estimated at USD 7.9 billion in 2022 and is expected to reach USD 26.5 billion by 2030, at a CAGR of 16.7% from 2023 to 2030 [2]

Retail automation market size was estimated at USD 19.9 billion in 2023 and forecast to grow to USD 55.2 billion by 2030 (CAGR 15.6%) [3]

The global intelligent automation market size was valued at USD 26.76 billion in 2023 and is expected to reach USD 157.83 billion by 2032 (CAGR 21.7%) [4]

The global robotic process automation (RPA) market size was valued at USD 1.9 billion in 2023 and is expected to reach USD 14.9 billion by 2032 (CAGR 26.2%) [5]

Gartner estimated that by 2024, the use of AI will enable 45% of customer service organizations to automate at least 25% of processes [6]

Gartner reported that by 2022, 70% of enterprises would be using chatbots for customer engagement [7]

Gartner stated that by 2020, 85% of customer interactions will be managed without a human (via AI and digital technologies) [8]

McKinsey estimated that automation could deliver economic value of $1.7 trillion to $4.5 trillion annually for retail [9]

McKinsey estimated that generative AI could add $60 billion to $110 billion annually to retail revenue [10]

Accenture estimated that automation and AI could help companies reduce costs by 30–50% in supply chain functions [11]

NVIDIA reported that retailers using AI can improve forecast accuracy by up to 20% [12]

McKinsey reported that personalization can increase sales by 10% or more, and conversion rates by 20% or more [13]

Deloitte reported that retailers can increase inventory turnover by up to 10% by using predictive analytics [14]

Shopify reported that 2023 had over 500 million customers worldwide using Shopify-powered stores (proxy for automation-enabled commerce scale) [15]

Salesforce reported that 84% of customer service organizations have already adopted automation to some degree [16]

ServiceNow reported that 65% of organizations are planning to increase automation investments [17]

UiPath reported that organizations can achieve 30–40% automation within the first year of implementation (case study/benchmarks) [18]

Automation Anywhere reported that companies can reduce operational costs by 20–50% through automation [19]

Blue Prism reported that enterprises can save 20% or more on operational costs by deploying automation [20]

IBM reported that AI can reduce stockouts by 20–50% (benchmark) [21]

Capgemini reported that 64% of companies consider automation/AI to be critical to competitive advantage [22]

WEF indicated that 75 million jobs may be displaced and 133 million new jobs may be created between 2023 and 2027 [23]

Gartner predicted that by 2025, chatbots will handle 85% of customer service interactions [24]

Gartner stated that by 2026, at least 70% of organizations will have deployed AI in at least one aspect of marketing [25]

Gartner predicted that by 2024, a quarter of large enterprises will have a virtual assistant to manage customer experiences [26]

McKinsey estimated that automated warehouses can reduce costs by 20–25% and improve productivity by 50% or more [27]

DHL reported that automated warehouses improve picking productivity by up to 25% [28]

Siemens reported that automation can reduce manufacturing energy use by 20% [29]

Rockwell Automation reported that factories using automation can reduce downtime by 20–50% [30]

Gartner predicted that by 2025, chatbots will become the primary channel for customer support in many industries [31]

31% of luxury fashion executives report that AI is already used in their organizations (survey wave reference year: 2024) [32]