With booming losses of Billions of Dollars in lockdown and down trod of popular fashion labels and top brands, the fashion industry is under a challenging business phase to revive their sustainability in the market.
Fashion and retail sector fights to mourn the glitches post COVID!
After the start of Unlock 1.0, Non-essential shops are trying to get back in business. Bridging the gap would however be a very huge concern as the loss of staff jobs and no customer interest is on its peak. The Glirl – Digital PR agency emphasizes that absence of eager window shoppers and jam-packed shopping malls are now a dream for the fashion industry!
Empty shopping malls and business challenges hits the fashion retailers
The distressing part of the current retail scenario is that the revenue has shot down while the expenses are mounting up. With no production in the factories, rent, maintenance, staff salaries, and EMIs are a burden that is tough to handle. People are under extreme depression and anxiety with the pending bills and deserted revenue accounts.
The offset of retail and fashion business in lockdown has set the new challenges for many businesses and with the future threat from this pandemic, there has been a major lack of consumer interest in the Industry. All market places are deserted and the shop owners are weeping over the losses incurred in the past two months.
Additional costs that businesses might have to bear post COVID to gear up!
Coming time is crucial to uplift the retail sector with some additional advertisement expenditure to regenerate the customer’s attention for their forgotten favorite brands. Zero sales for 70% of the fashion industry from almost a quarter is a daunting scenario. Showrooms and shops on rent have an impending rent to pay while many of the staff has led to layoffs. Those who are heading towards resumption post lockdown need to bear the expenses of sanitization, masks, pedestal fans, and gloves as so on. Many businesses are also on the verge of permanent shut down.
Can online shopping revive the hopes of retailers with easy customer reach?
With an uncertain scenario after the pandemic for the fashion and retail sector, a sudden strike in online shopping is evident. Many fashion partners are getting a hope that post-COVID, consumer interest would ether towards online shopping options. Digitalization and virtual conversion of fashion business is the only way to cope up with the losses recorded in the past. Apart from online significance, even the local shops are gaining customer confidence although gradually. Strategizing the business and offering captivating discounts might be the near solution.
Respective authorities from fashion forums have come up with an idea that certain shopping norms are to be bought into exposure such as restricted washroom uses, crowd retention, sanitization of customer touchpoints, and mandatory mask usage. Even the real-time shopping businesses might move towards virtual trial rooms and contactless shopping perspective to gain customer confidence.
What’s our take?
Apprehension to retail shopping would be monitored by Digital PR agency to discover the recent prospects and current effects. You can sustain the adverse scenario and emerge as a successful business with opting digital PR campaigns to cut down costs on marketing revenue and advertising expenses. The Glirl – Digital PR agency offers you strategically apt solution for all major fashion brands to go through the challenges faced by businesses. Switch to digital PR experts to fasten the stuck up business so that you can achieve alluring returns!