Due to the unfortunate situation of Covid-19, many countries had to face another lock to slow the curve and protect vulnerable people. It took less than one hundred days to upend the fashion industry, its glamorous facades crumbled into a pile of obsolescence. Today’s blog is focused around fashion in times of crisis.
When you’re locked indoors, spending your days on Zoom, having the latest designer dress is no longer capital investment. A pandemic can bring the world to a halt, putting the economy at risk. When it comes to fashion, an industry that employs more than 300 million people across the value chain and makes a critical contribution to GDP for most countries, producing and exporting quality goods has nearly collapsed.
Some say that a better world will emerge from this hardship. certainly, how we consume and look at things will change things. In fashion, brands that speak to communities and demonstrate social awareness will consider a more sustainable approach.
While it is too early to quantify Covid-19's toll on the fashion industry, the pandemic has certainly shaken some of the fundamentals of the industry:
· Offline retail had already seen massive declines in sales and traffic at the onset of the crisis - and now both have fallen to zero
· Online retailing is not keeping pace, more consumers feel at home, they are scrolling loosely through social media.
· Consumer spending will continue to decline and it may take some time to recover.
Option for the future after Covid-19.
· Consumer will have saved income that even they want to go back shopping.
· Most retails shop will no longer be there, giving new opportunities for new business.
· Remaining consumer would buy more online because they have got used to avoiding physical shops.
· People will continue using home deliveries for food as well as clothing both online.
Ultimately, the shock of seeing the world crippled by a virus will change attitudes towards saving the planet by traveling less, buying clothing in a more sustainable manner. For instance DURIBLE is all about high-quality items that are carefully made with the aim of longevity. In other words, sustainable. The eco-friendly t-shirt is made in Bangladesh and the Fair Wear Foundation ensures that this happens with the right and fair working conditions. At the same time, we focus on the environmentally friendly aspect, because the t-shirt is made from organic cotton, you contribute to more efficient use of water in the clothing industry.
It is undeniable that the Covid-19 pandemic will be a difficult 2020. For us even survival will be a struggle. However, if clothing and fashion companies lead with compassion and take bold actions, with the right mindset we can emerge even stronger.
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