Business Of Fashion - July 2020
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July 2020 issue Digital Access. - Magazine Details
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It has been about a month since stores have opened doors to consumers but market sentiments continue to be gloomy. The consumer is still struggling to cope with the pandemic triggered stupor and this has made retailing extremely challenging. An overwhelming percentage of consumers have cut down on fashion expenditure and a majority of the remainder now prefers to shop online. Over the month, we have witnessed how consumer expectations are continually escalating. Consumers today are focusing on “safer” modes of product evaluation and consumption, and preferring businesses who prioritize hygiene and buyer convenience. Thus, stores that have opened up are faced with the conundrum of coming up with measures that allay their fears about safety and hygiene. At the same time, fashion businesses are forced to review their core markets and operating model as well as device innovative engagement strategies that find relevance in the new normal – something that a majority of brands and retailers are struggling to keep up with.
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How Year 2021 Panned For Businesses And Where They Are Headed In Year 2022!
Reports suggest that India’s direct selling industry would be valued at US$ 2.14 billion by the end of 2021. Brick-and-mortar retailers, too, have been growing steadily and several fashion brands are looking to open more stores in the upcoming financial year. Through this article, we take a look at how year 2021 panned for businesses and where they are headed in year 2022.
Sustainability Post Pandemic: 5 Tips To Make The Shift
The fashion industry is worth more than US$2.5 trillion and employs over 75 million people globally. Though the sector is booming, it has negatively impacted the environment. About 85 per cent of textiles go to the dump each year, and washing few types of clothes sends a large amount of microplastic into water bodies, further polluting essential resources. There is an urgent need to shift to truly sustainable practices.
THE LAST MILE PROMISE: SUPPLY CHAIN GOES PHYGITAL
Customer behaviour has changed in the post-pandemic world and today, depending on what customers expect from a brand they are shopping from, the brand or the retailer is changing his strategy of doing business. It is all about putting the right supply chain forward, inclusive of a good last-mile fulfilment device. Experts in the field share some insights with us on the growing importance of CX in last-mile fulfilment.
S.OLIVER GROUP PARTNERS WITH TECHNO DESIGN GMBH FOR SOURCING FROM INDIA & SRILANKA
S.Oliver Group has entered into a strategic partnership with Techno Design GmbH, a group company of PDS.
PERFECTING THE ‘PHYGITAL' SHOPPING EXPERIENCE: UNIFYING THE ECOSYSTEM FOR TODAY'S HYPER-CONNECTED CONSUMER
Phygital retail is all about creating that immersive experience for your customers both offline and online through varied tools. Though the lines of divide between the two may be blurring fast, there’s much that needs to be explored. Industry experts help us understand how brands are perfecting their strategies to give customers the true ‘phygital’ shopping experience.
XYXX LAUNCHES NEW ATHLEISURE LINES - HYPE AND CODE
Men’s innerwear and loungewear brand XYXX has launched two new athleisure lines - Hype and Code. Hype offers a range of joggers and shorts in cotton-rich fabrics.
RETAIL REALIGNED: WHAT'S DRIVING BUSINESS TODAY?
Much has been said about how the COVID-19 pandemic has altered the way businesses think and operate. In the fashion retail world, where product lifecycle from creation to delivery was once a long-drawn process, business are now looking to be more agile and quick, invest more in technology to make systems more automated, and lead with empathy. People and culture have taken precedence over sales generation. Experts from the sector share some key insights with us on changing yardsticks.
MICHAEL KORS ADDS FRESH DETAIL TO ITS TIMEPIECES FOR MEN AND WOMEN
Michael Kors has introduced its new range of timepieces - some reimagined and some classic.
LUXURY RETAIL: ADAPT, DIGITISE & WIN
In its latest report titled ‘Fashion and Luxury: Winning Recovery Strategies in a Post-COVID-19 World’, Euromonitor International provides a positive outlook of the sector in times to come, adding that it is set for a strong rebound driven by pent-up demand and domestic consumption. Players in the sector thus need to be well-equipped to make the most of the upcoming demand.
ADITI RAO HYDARI INTRODUCES NEBULA TIMEPIECES FOR WEDDINGS
Nebula from Titan has introduced a selection of 18KT gold timepieces for men and women to accessorise a variety of looks for festive occasions, especially weddings. At the launch of the collection, guest of honour Aditi Rao Hydari modelled the designs in gold embellished with diamonds and gemstones.
