Impact of coronavirus at the fashion Industry
Today India has announced Lockdown at most of the part of the country till 31/March to fight well with the situation. Luckily India doesn’t have a shortage of Doctors. This lockdown will help to control and further spread COVID-19. China experience has taught us well to fight with such a situation. This lockdown will affect Retail and fashion Industry badly. Now customers will stay away from impulsive buying & will focus on daily needs.
Let's see what is the impact of COVID-19 at Fashion and Retail industry across the globe.
- America closes New York delivery station.
- Global Bridal wear label Pronovias group supports to hospital employs by donating wedding dress to brides-to-be.
- Moda Fabriek July show planned to be cancelled.
- TJ Maxx halts E-Commerce operation for two weeks.
- Everlane brand has just announced to donate profit for feeding America COVID-19 response fund.
- Vancouver F/W20 fashion week cancelled.
- Gucci & Chanel Luxury brands shut down factories in Europe.
- Retailors of India, U.K and Ireland can learn from Italy online sale surge.
- Stores closures across the world will hit GDP.
- “Made in China” products declined by 16 percent across the globe.
- Valmount Barcelona fashion week postponed.
- Australia Fashion week cancelled.
- Amazon is prioritizing medical and household things & putting other goods on hold keeping coronavirus outbreak in mind.
- Zara sale has dropped by 24% from 1st March to till 16th March.
- In Paris, most fashion capitals are expected to work from home in self Isolation.
