The COVID-19 pandemic has wreaked havoc around the globe, taking lives and keeping people at home.
Many businesses have closed indefinitely, and schools have resorted to online learning.
Quarantining and social distancing are two of the main measures that have been taken to prevent the spread of the virus.
Shopping for survival has certainly surpassed shopping for pleasure, with toilet paper aisles in merchandise stories and supermarkets looking like skeletons
In a world on survival mode, where does the fashion industry stand?
Many clothing stores have closed — and may not be coming back.
American retail giant JC Penny closed its doors on March 19.
While the temporary closing was supposed to last through April 2, all stores remain unopened.
British-based Debenhams — whose roots go back to 1773 — was already experiencing some issues before the COVID-19 outbreak, having entered Administration on April 9, 2019.
However, after recently coming out of Administration, Debenhams’ appeared to have potential for recovery.
The global pandemic flipped this optimism.
“COVID-19 has brought all the retailers’ problems to head a little earlier than expected. After 242 years on the high street, there is a good change that many, if not all of the department stores’ doors won’t be opening after the UK wide lock down ends.”
Nigel Frith, senior market analysist http://www.asktraders.com
The closing of Debenhams also means the termination of 22,000 jobs.
The fashion world has taken a hard hit economically.
“Offline retail had already seen massive declines in sales and traffic at the start of the crisis-and now both have gone to zero.”
McKinsey & Company
According to McKinsey & Company, “Across North America, retailers are shutting their doors for consumer and worker safety or in compliance with government orders.”
Digital Matters
While it may seem that online shopping would serve as the solution for these issues, it is not a perfect substitution.
According to GQ, Bain and Company — an American management consultancy firm — has seen online sales of designer goods decrease during the quarantines in China.
GQ also points out that people have questions about the safety of ordering online.
While it has been deemed mostly safe to online shop by multiple health experts, including Dr. Gabriela Andujar Vasquez, an infectious disease physician at Tufts Medical Center in Boston, Massachusetts, it doesn’t hurt to be cautious by disinfecting packages and washing hands after contact.
Still, the fashion world is not exempt from the current survival-mode mentality of society.
“I do think we need to prioritize. I’m limiting my purchases to things I need to work or live… Do you need that bathing suit yet? I think taking a moment to consider the workers and the issues we’re all dealing with right now is something that should be on people’s minds.”
Tara Smith, professor of epidemiology at the college of public health at Kent State University
Indeed, along with self-protection, prioritizing others may be a reason for the decline in online shopping of designer goods for the fashion industry.
However, as of March 20, online shopping had increased, rather than declined. According to Quantum Metric, revenue acquired from online clothing shopping had grown by forty-three percent since the first week of January at retailers in the United States.
The Future of Fashion
The future of fashion could be digital.
The spread of COVD-19 saw the cancellations of multiple fashion shows, including Ralph Lauren’s April show.
Instead of cancelling, Giorgio Armani live-streamed his show from a vacant room on the final day of Milan Fashion Week.
The purpose of this method was to keep the guests safe by preventing them from attending a crowded space.
“In a time of crisis, we have to think about a radical reset.”
Anna Wintour to the Times
The current situation might also encourage designers to question the future of fashion shows, with some possibly deciding that they are unnecessary and to do away with them.
The sustainability movement has already been pushing the industry to rethink the idea that these shows are necessary. The pandemic could lead them to a decision.
Sources
https://www.gq.com/story/how-coronavirus-is-affecting-the-fashion-industry https://www.mckinsey.com/industries/retail/our-insights/perspectives-for-north-americas-fashion-industry-in-a-time-of-crisis https://www.gq.com/story/guide-online-shopping-coronavirus https://www.independent.co.uk/life-style/fashion/giorgio-armani-coronavirus-milan-fashion-week-empty-room-livestream-emporio-a9353986.html https://corporate.kohls.com/news/archive-/2020/march/kohl-s-announces-temporary-closure-of-stores-nationwide https://www.usmagazine.com/stylish/pictures/fashion-and-clothing-stores-closing-due-to-coronavirus/ https://fashionunited.com/news/retail/debenhams-the-end-of-an-era-and-22-000-jobs/2020041033055 https://www.dallasnews.com/news/commentary/2020/03/11/north-texans-as-the-coronavirus-sets-in-we-must-find-the-middle-ground-between-panic-and-denial/
Bossin' on a Budget 