More broadly, our economists note that while housing did not lead us into t...
2020-12-21 2 ENGLISH REPORTS
The past year will go down in history as one of the most challenging for the fashion industry on record, marked by declining sales, shifting customer behaviour and disrupted supply chains. On top of a humanitarian crisis afecting the lives of billions of people, Covid-19 is the catalyst for a deepening economic crisis. Like many other sectors, the fashion industry fnds itself in the midst of unprecedented adversity, with revenues and margins under pressure. Yet the shifting landscape is also creating pockets of momentum and, despite the ongoing, widespread impact of the pandemic, some fashion companies are developing new ways to compete.
The pandemic has compounded the demand for all things digital, which in turn has enabled innovation, efciency and new ways for businesses to scale up. The shift is permanent, and will continue to create opportunities to build slicker, smarter operating models and diferentiated customer propositions that are more personalised to each customer. Equally, the crisis has emphasised the need to move to more sustainable and responsible ways of working in all areas of the value chain. As the number of fashion players responding to this need continues to grow, it will prove to be a long-term boon to companies, workers, customers and the planet.
标签： ENGLISH REPORTS