For every industry, the year 2020 was one of the most difficult in history. The fashion industry was also severely impacted, with decreased sales, altered client behaviour, and disrupted supply chains all around the world. This article examines the numerous changes wrought by the pandemic, which may or may not persist in the future.
In the year 2020, the globe faced a major crisis in the shape of the COVID-19 epidemic, with industries experiencing their worst year ever. Almost every industry is still in a state of flux, with revenues and margins being squeezed [1]. Demand for clothes has been slashed as a result of unbalanced economic activities [2]. According to the McKinsey Global Fashion Index, there will be two types of recovery in 2020: "Earlier Recovery," in which global fashion sales would decrease by 0-5 percent in 2021 compared to 2019, and "Further Recovery," in which the industry will return to the same levels of activity as in 2019. The second is "Later Recovery," which predicts a 10% to 15% drop in sales over the next year.The second is "Later Comeback," which predicts that fashion sales will drop by 10 to 15% in the coming year compared to 2019, with a recovery in the fourth quarter of 2023. The pandemic raised demand for digital access to everything, allowing firms to innovate, become more efficient, and expand in new ways. It has also placed a strong emphasis on the need to transition to more sustainable and responsible working practises. People will continue to be wary of mass gathering, thus digital means will be the primary driver of growth in the future years. Consumer demand and working methods are projected to undergo significant and long-term changes, according to industry players. Brands will have to adapt among the probable short-term obstacles.The pandemic raised demand for digital access to everything, allowing firms to innovate, become more efficient, and expand in new ways. It has also placed a strong emphasis on the need to transition to more sustainable and responsible working practises. People will continue to be wary of mass gathering, thus digital means will be the primary driver of growth in the future years. Consumer demand and working methods are projected to undergo significant and long-term changes, according to industry players. Among the probable short-term obstacles, businesses will have to shift their focus to casualwear, and luxury will continue to be under pressure, as well as shorter production cycles and cash constraints, which will cause investments to stagnate. [1]
Work from home, at-home workouts, and meditation have all boosted demand for already popular categories. Furthermore, people have become more committed to an active lifestyle in recent months, resulting in a high demand for sportswear, loungewear, and other such items. [3] One out of every four #covid-19 postings, according to Heuritech's Instagram study, is about living a healthy lifestyle. In fact, sportswear is experiencing a surge in popularity among consumers. [4] Leggings and bicycle shorts are popular because they are the star items throughout this incarceration period. Consumers are focusing more on sports activities, meditation, yoga, or simply sitting about, thus loungewear such as track trousers and sweatshirts are on the rise, and they look to be the biggest fashion trend at the time. [3]