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How will COVID19 impact the fashion industry?

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How will COVID19 impact the fashion industry

The outbreak of pandemic COVID 19 has brought a standstill in each and everyone’s lives. The  severity of this situation is evident from the death toll increasing everyday. The second major  impact will undoubtedly be seen on the economy. Fashion alone is $2.5 trillion global industry. How will COVID 19 impact the fashion industry?

In the time of this medical emergency, all the leading clothing brands worldwide have come together as a united front. However many brands have shut down their merchandise production. The manufacturing units are directed to manufacture surgical masks and coats.

Brooks Brothers manufactures 150,000 surgical masks per day.Victoria Beckham donated 20 percent of the sales proceeds. Jeweller Loquet London to donated 50 percent of all sales.

From cancelled fashion shows to massive consignment call offs, this pandemic has affected the industry  evidently. Just like any other business, the fashion business also operates at varied levels.  The industry works on a 6 month prior basis. In detail,the clothes you see hanging in the store today were designed long time back. Thus the timeline followed has been completely disrupted.
All the major  summer/ spring collection shows were called off.


The spread of the pandemic has hurt fashion and lifestyle retailers. The lock down has acted as a necessary evil for them. The sales have fallen by as much as 70% since fears over the virus intensified. The mere survival source the fashion giants have now is the eCommerce. The sales have reduced on the e commerce platforms also. According to the Bangladesh Garment Manufacturers and Exporters Association , orders worth 1.4 billion dollars  have been cancelled and another 1.8 billion dollars worth have been put on hold.

 

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Fashion is craft, artisan ship and things that are often made by hand in informal environments. The design starts  from an inspiration and with course of time and endless effort you get the  final garment. In a global crisis, retailers across all sectors are forced to cut costs and shift priorities. The fashion industry has been trying to stop the practice of over consumption for a log time now. But this crisis might end up actually curbing over consumption.

How will COVID19 impact the fashion industry?
The pandemic has brought along with it a lifestyle revolution. The results are not determined as of now. The world is changing let us all hope for good. We as humans have exploited the nature explicitly. May be it is payback time now. The nature is healing. Fashion industry has also contributed its part in destroying the nature. So the whole sector going through this slump is no exception.
Divanshi

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