The pandemic had a huge impact on the general economy, bringing new challenges to brands. In our sector there’s a special concern about the collapse in the global demand for clothing.
During this difficult moment a lot of brands and retailers have cancelled their orders for goods, bringing the demand to a new low. This action generated a lot of questions, such as “How can we add value to our existing stock?”, “How to adapt the company to survive?”.
To respond to all of this, we highlight 4 keywords: Circular economy + Resilience + New Slow + Opportunity.
Circular economy
Although the concept isn’t new, this can help producers to reorganize their process of production and identifying new ways to optimize the factory and all of the development process.
It became more important to have a zero-waste industry when you are left with orders that should have been delivered or sold.
Resilience
Resilience is an important key in this process, from retailers to suppliers and designers they all should restart and restructure their plans of action to the good of the economy and survival of their businesses.
New Slow
For quite some time we have been seeing fast fashion taking a step back, as consumers no longer desire cheap clothes but rather ethical and environmentally friendly clothing.
Nowadays, there’s more value in the production of the garments. Such as: how are the conditions of workers, the pollution and the materials used.
The slow fashion has taking centre stage with conscious choices and since the pandemic, a lot of consumers saw their disposable income shrike, meaning less money to spend on fast fashion. This could bring back a few new trends that weren’t expected to 2020, for instance: return of sewing skills, choosing made to last clothes and styles, being creative with exiting clothes and even clothing swap.
Opportunity
As consumers are stuck at home, companies are being forced to reinvent business models. Should fashion industry slowdown, move away from mass production and change direction?
Well, we definitely think so.
Since the majority of people continue to work from home, fashion is less likely to be a priority. So why not take a risk with loungewear and nightwear?
If you need an expert opinion on how to produce your collection, you can count with us!
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