One business that has been growing globally — and steadily — is the business of fashion. And this business is looking eastwards.

The annual McKinsey & Company State of Fashion 2018 report says that 2017 was good for global fashion and 2018 will be even better.

According to the report, compiled in association with the Business of Fashion, 2017 spelt the end of an era. From now, the West will no longer drive fashion sales. Most garments and shoes will sell outside Europe and North America, in the emerging-market countries in Asia–Pacific, Latin America, and other regions.

One of the main reasons behind the shift is online shopping. The report says that consumers in Southeast Asia spend about eight hours a day online on average. The modern shopper is accustomed to the comfort and ease of online variety and speed and of not having to go out to shop. This has created complexities and changes that the industry is still trying to decode, but meanwhile the business has made its shift.

“Asia is no longer waiting for Western companies to step up. Asian players will assert their power and leadership even more through pioneering innovations and global-scale investment and expansion,” says www.businessoffashion.com on the report.