For fashion, I suspect 2024 will be a year of striving for normalcy. The pandemic roller coaster is behind us (we think), and consumers are still spending (for now). But the fun thing about this industry is that normal can play out in pretty nutty, or at least captivating, ways. As we head into the new year, here’s what I’m thinking about, from fashion’s dirty little discounting secret to whether or not we’ll finally get a succession plot worthy of a television show. 

1. Off-Price Will Be Bigger Than Brands Are Letting On

A few months ago, I had coffee with an exec from a well-known, sub-billion-dollar brand. This person expressed concern that his brand was losing sales not only because of the post-Covid dip that everyone was experiencing, but also because competitors with more robust off-price channels—those that operate their own outlet stores, or sell to off-price department stores like Saks Off Fifth or T.J.Maxx—were dumping more products there than ever. “How can I compete when they’re selling leather handbags for under $200?” he asked me.