Coronavirus outbreak has snatched away the peace of mind of millions of people. With over 140 countries under its impact, COVID-19 right now is playing with the lives of many. Thousands of people died of this fatal, cureless disease. Lakhs are contaminated by the deadly virus. The medical world has no clue as to what can cure COVID-19. Scientists are trying their best to understand the nature and type of this virus. They are trying to know how the virus can be tackled, but unfortunately, there is no improvement yet. Let’s discuss how it has affected the Fashion Industry.
COVID-19 Update and its consequences
COVID-19 affected patients are either dying recklessly or are getting recovered if they have a strong immune system. Kids and elderly and aged people with low immunity systems are the most vulnerable to this disease. Adults suffering from chronic diseases are also at risk of being infected by the Coronavirus.
The entire world right now is under extreme grief and panic. Some countries are grappling to survive, while others have completely locked down their country. Since there is no vaccination or cure available for this highly communicable disease, social distancing is the only way through which the contamination chain can be broken.
Because of this severe health crisis, people worldwide are locked down inside their homes. They are scared, afraid, and silently praying for the ordeal to get over. Weddings and all other social events are getting canceled. The public gathering is strictly a no-no, and hence, people are avoiding any place where groups of people gather together.
Impact on the fashion industry
In such a bleak hour, the world of fashion has dwindled totally. With almost all the shopping malls and showrooms shut down, the fashion industry is hard hit by COVID 19. Fashion is the last thing on people’s mind right now. People prefer to get ready and look all decked up during get-togethers, family functions, and other similar events. But now that everyone is locked inside their respective homes, and are getting out only to purchase medicines or grocery items, no one has the time and heart to think of fashion right now.
Right now, consumers are focussing more on essential commodities and medicines. They are, in fact, indulge in panic buying. They are hoarding essential goods and commodities, groceries, non-perishable food products, medicines, hand sanitizers, and masks. Lifestyle and fashion industry has definitely taken a back seat right now. No one is in the mood to purchase fashionable clothes. People are even concerned about saving money for emergency situations. Walk-in stores are mostly shut down, and online orders have reduced.
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During the highly prestigious Milan Fashion Week, renowned designer Giorgio Armani sported a mask and displayed his collection in an empty, closed studio. He did not invite any guest there. Instead, he simply live-streamed the event. FDCI or Fashion Design Council of India has postponed the Indian Fashion Week, which was earlier scheduled to be held from 11th to 15th March. The Bridal Fashion Week of Valmont, Barcelona, has been postponed and now will be held in June. Similarly, all other major Fashion Trends events have been postponed.
Heavy discounts on major shopping brands
Fashion brands all across the world are offering lucrative discounts on their e-commerce portals. Yet the sale is extremely low. Online purchases have declined by almost 15% as people are busy buying necessary commodities. Brands like Gap, Adidas, and Aeropostale, etc. are offering 30 to 60% discounts on their products. Shoppers Stop offering a discount of a whopping 70%. Even shoe companies like Liberty and Clarks are trying to clear their stocks by offering discounts up to 70% and categorizing them as bi-annual sales, end of the season sale, and so on. The MDs of major fashion centers feel that now it is necessary to focus on online sales since offline stores are shut down completely. Recovery will definitely take much time. Even online operations are getting disrupted because of lockdown in several places. This has resulted in a shortage of products and workforce too.
The Fashion business in India and all over the world is definitely experiencing standstill. Business View Magazine hope for is that this time too shall pass. Let’s pray together for a safer and brighter future where again getting all decked up and meeting near and dear ones will be absolutely normal and extremely joyful.