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How The Fashion Industry Is Affected By The Current Health Crisis

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The impact of the COVID-19 pandemic has been widespread across all industries. The fashion industry has been badly hit due to its huge reliance on people going out of their homes to shop.

Here’s how the fashion industry is affected by the current health crisis:

Online Business Now Takes Priority

The fashion industry had been struggling with the reality of slowing physical store sales even before the pandemic. This was due to the popularity of e-commerce. However, now it’s clearer than ever that the industry has to shift to the online space soon.

During the pandemic, the industry has taken advantage of online platforms such as Fancy Lingerie for sales. Many fashion houses are offering major discounts to boost sales. Also, social media, emails, and other forms of advertisements have become even more aggressive during the pandemic.

It’s unlikely for physical stores to return to normal even if the pandemic ends soon.

The Rise in Virtual Events and Technologies in the Fashion Industry

Virtual events have taken over the fashion industry as a quick replacement for physical fashion events. This has increased the use of virtual events called Phygital. The Phygital concept tries to merge physical and digital experiences.

The phygital concept is quite new to the fashion industry. This year, the industry has gone without their live audiences, walkways, and dressing rooms. So, from different locations, designers and models are creating a near-realistic display of their new designs.

Phygital apps are also gaining popularity in the fashion scene where customers can try make-ups, dresses, and other fashion items on themselves before buying. Virtual Reality (VR) and Augmented Reality (AR) technologies are the backbones behind this concept.

Advertisements Have Increased But May Be Less Effective

All advertising media that’s usable by the fashion industry has witnessed a major boost due to the crisis. Special focus is being placed on online media because of the huge number of potential customers. This has led to a higher interaction of consumers with fashion brands.

However, many of these interactions are not leading to conversions. Instead, consumers are using social media to kill time and save every penny they can. However, there’s a likelihood of these consumers succumbing to the onslaught of advertisements during this period.

Consumers Will Not Be Spending Heavily Anytime Soon

Many consumers have been hit hard financially by the pandemic. Some have lost jobs while others are hoping they won’t lose theirs. That reality has made many consumers wary of spending on any luxury items. They’re not buying new clothes because they can’t go out.

Activewear for exercises and loungewear are high in demand because people are mostly at home. However, customers won’t be spending much money on fashion items anytime soon.

A Major Change in Fashion Trends

Fashion trends change with major events such as the current health crisis. Presently, the main clothing trends are active wears and lounge wears. This is because people prefer not to go outside except for buying essentials.

The current situation has certainly got many designers thinking about how best to take advantage of the situation. With more time on their hands to do all the brainstorming and homework, there’s a huge expectation for some great innovations in fashion. In the meantime, the industry is adopting a slower pace to reduce its production costs, minimize wastes, and maximize profits.

Fashion Companies Are Weighing Topics Like Never Before

There are fewer talking points in the fashion industry. This is continuously changing the way fashion companies are generating buzz around their businesses. The common ideas relate to controversial topics, commemoration days, and donations.

The pandemic has made many companies donate in cash or kind to funds like the World Health Organization's (WHO’s) Solidarity Fund. Fashion businesses have also expressed their support for Black Lives Matter, Pride Month, Juneteenth, and other Corporate Social Responsibility (CSR) efforts. All these efforts are being made in the hope that they’ll create a better brand image across the board as business resumes gradually.

Conclusion

The fashion industry has weathered so many storms but nothing like the current pandemic. However, it’s a very innovative industry that won’t be staying down for too long. Active wears and lounge wears have taken over the fashion scene like never before.

Advertisements are on the rise in the industry but their effectiveness is in doubt. Fashion companies now weigh in on trending topics and focus on public relations for building a better brand image. Fashion trends are changing and there’s a lot of expectation from designers in the industry to come up with befitting innovations after the pandemic.