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CIO Look 2021-06-04

The COVID-19 pandemic has affected numerous industries all over the world.

While some of these industries have been able to adapt to the present scenario and have even been able to come out stronger, some have also taken a big hit and are struggling to survive.One of these industries that have had to adapt to different and creative strategies to survive, is the fashion industry.The fashion industry, being highly reliant on offline activities and services for the most part of its existence, has been struggling to adapt to the changes brought on by the COVID Pandemic.Ranging from shopping malls to runway shows, all brands have taken a major hit.An Mc Kinsey consumer sentiment survey, conducted in April shows that there has been a significant drop in the intentions of the consumers to purchase.

However, it was also shown that it was different in the case of offline and different in the case of online channels.

In Europe and North America, the purchase intention declined about 70-80 percent for offline channels and 30-40 percent for online channels.The same survey states that about 74 percent Chinese consumers have refrained from going to the malls.Therefore, it can be easily ascertained that for the next few years to come, most of the consumers would be purchasing their new clothes through online shopping and platforms.Amidst the lockdown, even in countries where physical stores are opened and direct shopping is allowed, brands, in order to stay profitable and not incur any losses, are pivoting towards fast and digital sales.Most of the industries have moved towards digitalised versions of their services and products.

Hence, the fashion industry is leaning that way as well.Another technique the fashion industry is implementing now more than ever is ‘Sustainable Fashion’.The demand for sustainable fashion has been increasing and is definitely going to be bigger than ever eventually.

Sustainable fashion is what would be called, ‘Slow fashion.

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Pragya Patil 2020-12-04
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Luxury Fashion Market report published by Value Market Research delivers a comprehensive market analysis covering of market size, share, value, growth and trends for the forecast period of 2020-2026.

The report includes data regarding market attractiveness analysis by segments, company share analysis and recent developments by key players.

Moreover, this market report also covers regional and country market analysis in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.

This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Luxury Fashion Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/luxury-fashion-market/download-sampleMarket Dynamics The increasing number of millionaires and brand loyalty among customers are the key factors driving the luxury fashion market over the forecast time frame.

The growing perception among customers that luxury goods add greater social recognition is also contributing to the luxury fashion market growth.

The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.

collect
0
CIO Look 2021-06-04

The COVID-19 pandemic has affected numerous industries all over the world.

While some of these industries have been able to adapt to the present scenario and have even been able to come out stronger, some have also taken a big hit and are struggling to survive.One of these industries that have had to adapt to different and creative strategies to survive, is the fashion industry.The fashion industry, being highly reliant on offline activities and services for the most part of its existence, has been struggling to adapt to the changes brought on by the COVID Pandemic.Ranging from shopping malls to runway shows, all brands have taken a major hit.An Mc Kinsey consumer sentiment survey, conducted in April shows that there has been a significant drop in the intentions of the consumers to purchase.

However, it was also shown that it was different in the case of offline and different in the case of online channels.

In Europe and North America, the purchase intention declined about 70-80 percent for offline channels and 30-40 percent for online channels.The same survey states that about 74 percent Chinese consumers have refrained from going to the malls.Therefore, it can be easily ascertained that for the next few years to come, most of the consumers would be purchasing their new clothes through online shopping and platforms.Amidst the lockdown, even in countries where physical stores are opened and direct shopping is allowed, brands, in order to stay profitable and not incur any losses, are pivoting towards fast and digital sales.Most of the industries have moved towards digitalised versions of their services and products.

Hence, the fashion industry is leaning that way as well.Another technique the fashion industry is implementing now more than ever is ‘Sustainable Fashion’.The demand for sustainable fashion has been increasing and is definitely going to be bigger than ever eventually.

Sustainable fashion is what would be called, ‘Slow fashion.

Pragya Patil 2020-12-04
img

Luxury Fashion Market report published by Value Market Research delivers a comprehensive market analysis covering of market size, share, value, growth and trends for the forecast period of 2020-2026.

The report includes data regarding market attractiveness analysis by segments, company share analysis and recent developments by key players.

Moreover, this market report also covers regional and country market analysis in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.

This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Luxury Fashion Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/luxury-fashion-market/download-sampleMarket Dynamics The increasing number of millionaires and brand loyalty among customers are the key factors driving the luxury fashion market over the forecast time frame.

The growing perception among customers that luxury goods add greater social recognition is also contributing to the luxury fashion market growth.

The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.