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Impact of covid-19 on fashion industry - Comment

Description: Impact of covid 19 on fashion industry

1. Impact of Covid-19 on fashion industry Intro Covid-19 has totally crushed or trampled all the economies of the world Even the biggest economies of the world like USA and Russia were drastically Affected by this disease and though Many Industries were also affected like hotel industry , fashion industry and other food processing industries . Fashion Industry had been one of the booming industries and covid-19 had severely damaged it’s existence though with a complete lockdown and even the online fashion industry saw a sudden downfall in sales .
2. Effects on Weavers and Tailors 1.Lack of Migrant Workers or No manpower for menial jobs 2. Postponement of Big Events or Gatherings like Weddings , Birthday parties or any other occasion where fashion Industy is benefitted. 3. Lack Of Raw Materials due to closure of manufacturing sectors.
3. Effects on Retail Industry 1. Due to Covid-19 , the malls and stores were closed and it effected the fashion industry offline . 2. Shifting of customers from offline to online shopping store gave a surviving breath to the fashion Industry. 3. Internal shifts in countries central to fashion’s supply chain like China and Italy (both gutted by COVID-19 in its early days) will have an impact on the global fashion industry.
4. Effects on the Global Apparel industry 1. Due to rapid increase in case of Covid , there is a downfall demand for the indian apparel exporters and their are concerns regarding their working capital because of the postponement. 2. Labour right group urge the textile mill owners to minimize the spread of covid 19 among the mill workers . 3. Textile firms and US coalition apparel have made a supply chain to fastrack the manufacturing of masks and other healthcare equipments
5. Effects on Sale of Apparel 1..According to CMAI there is a drastic drop of 84% in the sales of apparel in the month of may 2020. 2. There is a big shift in making healthcare and PPE products which apparently led to a drastic decline in the sale of apparel 3. Due to closure of retail industry there was a great shortage of fresh new orders 4.CMAI Survery indicates that only 22% of garment and apparel manufacturing industries started their operations by the end of may .

Posted by :  peter88 Post date :  2020-10-19 15:59
Category :  Business Views :  46

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