CORONA PANDEMIC TWISTED THE FUTURE OF FASHION INDUSTRY !

KEY HIGHLIGHTS-

1. The future of Fashion business is getting digital and socially active.

2. Consumers to get more inclined towards ‘Sustainability’.

3. ‘Make in India’ to become stronger than ever before. Due to the Coronavirus pandemic, fashion businesses have been badly affected not only in India but all over the world. Fashion shows are being postponed, exhibitions and pop-ups are cancelled. Fashion houses are loaded up with the stock. So many workers are left with no job. Cancellation of orders and huge monetary losses occurred due to the lockdown. After all these problems what changes to the industry we can expect? Going Digital- Online shopping has become a daily part of our lives. Getting business digital will lead to more customers. Mostly due to the lockdown situation, it is safer to order things online rather than running to your local stores. Even for the Fashion shows, it is uncertain due to travel restrictions and social distancing rules. Many associations like FDCI have planned of doing online Fashion Shows, and exhibitions. After Corona, designers see a huge shift in consumer behaviour. The consumer has become more aware and has learned the importance of resources and to use them wisely. Now they are more inclined towards ‘Sustainability’. Value for money is going to be key for the consumer. The buyer may want to purchase less but they’d want something that holds meaning and which lasts them longer. This shall increase the demand for Indian young brands and designers. The desire and the urgent need to support ‘Make in India’ is stronger than ever before, also each locally made purchase would mean directly supporting regional weavers and home-grown fashion labels. For the fashion businesses to make a come-back it is very important to keep customers as their top priority, understanding their needs, choices, and taking measures in ensuring their safety, giving more importance to hygiene and packaging. Sales can be a good option in clearing up the stock. Diwali and the upcoming wedding season could be a time for the revival of business and consumer spirit. The bridal market in itself will always be there but might scale down to some extent. Luxury goods are likely to be the last to really get back into the flow of things.