IMPACT OF COVID-19 ON FASHION INDUSTRY

Since the beginning of year 2020, coronavirus pandemic has impacted lives, economies, businesses and countries to an extent nobody had imagined or had foreseen it. With the initial breakout of COVID19 in Wuhan Province China, it has now affected 215 countries and more than 24 million individuals. For the first time in years, more than 70 countries have been under lockdown which has led to unrest in economy of various nations. And with many sectors as well as industries bearing the repercussions of the impending recession, Fashion Industry also has been extremely vulnerable to the situation with production been ceased, sourcing – imports - exports halted, retailers and offline channel completely shut, and the change in the consumer behaviour. With the motive to understand the extent of impact on Fashion Industry, this paper is attempting to comprehend the journey of the industry and how it is coping up with aftermath caused by the pandemic. The paper examines how the outbreak has altered the process for Designers, Brands, Consumer, Marketing and supply chain in the fashion industry and how digital transformation is the most important key in making the most out of this unprecedent situation. This disruption has made the industry to think of sustainable – all seasonal products, depend and utilize more of local resources and have a robust digital presence along with the strategy.

___________________________________________________________________________________

 

Keywords: Fashion, Retail, COVID19, Pandemic, Digital Transformation.


DOI:

Article DOI:

DOI URL:


Download Full Paper:

Download