Fashion Industry in pandemic: Challenging days for Fashion industry

Fashion Industry in pandemic: Challenging days for Fashion industry
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As the world is in the grip of a deadly virus and people are forced to stay inside their houses due to a nationwide lockdown. A lot of us have spent the past few months wearing just “pyjamas”. But have you ever thought how this might affect the fashion Industry? Amid this pandemic fashion retailers and designers are indeed having a hard time keeping their business stable. Most of the brands and fashion executives have shifted their focus on Crisis management. But, some of them are not dealing with it very well. Closing production and shutting down factories forcing the employees to go back home without pay.

The biggest trouble is for the brands that did not have e-commerce. And were totally depended on physical stores, one of them is the UK’s Primark. Though it is a well-known brand in the country it went all down due to the lockdown. Talking about other brands like H&M and ZARA that had the online business in place.  Were still doing better but we cannot overlook the fact they still have inventory worth 10 million pounds sitting in their warehouse. Even luxury brands like Burberry & Gucci have been forced to shut down several stores and has seen a huge decrease in consumer demand.

A new research predicts that the global sales in the $ 2.5 trillion industry will see a drop up to 30%. It also hints towards most of the fashion industries going bankrupt in the next 18 months.

The near future how is all this going to affect us, the consumers??
It seems these brands would ultimately increase the prices. As now they have to bring in new expensive productions and transportation is an added cost. So, it is a sure thing that whenever this pandemic ends the prices are going to soar.
It seems even after the pandemic; fashion industry would take a backseat as people would set their priorities straight and will focus more on other important sectors like health & wellness.

So personally, I feel Fashion industry is going to crumble post the pandemic.

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