The Effects of Covid-19 Pandemic On The Fashion Industryby ISSHU M. Blogger
The Covid-19 epidemic was the first and foremost human disaster in 2020. The impact of Coronavirus on India has mainly been disruptive in terms of economic activity and loss of human lives. All the sectors have been unfavourably affected. The previous months have seen fashion houses, retailers, influencers, fashion magazines, etc., introspect and pivot in unexpected and surprising ways. Some have made minor shifts, while others have been forced to make more significant changes. The Indian fashion industry has responded in thoughtful and engaging ways. The FDCI, for instance, was amongst the first institutions to extend a Covid-19 Support Fund for small businesses and young designers in need. The pandemic has affected not only the demand for textile and apparel but also its supply. India is a key apparel and textile exporter, and these markets are struck hard by the virus. Consumers are locked inside, shopping malls are closed, and access to online marketing has been restricted. Thus, users from these markets have either cancelled their orders or put them on hold.
Opportunity for Change
Crises can create new avenues for growth. No one can foretell what the next normal might be like. A strong desire on the part of consumers is expected to resume their pre-crisis habits once conditions permit. Consumers increasingly emphasise product safety and quality over organic or all-natural components. This situation can accelerate the shift to greener, more sustainable supply chains. It is a huge decision for businesses and will force them to evaluate their strategies and plans for the future. In the context of COVID-19, there's no choice between economic or environmental sustainability. The shift to a more sustainable business model and supply chain management is essential for businesses to survive.
Investing in Future
Companies need to invest in areas that allow them to create an advantage in adversity. By building organisational capabilities and processes required for the future, companies can capitalise on opportunities to expand market share. Online platforms will advance to gain market share through acquisitions and organic growth. Even if designers around the globe can't launch a new fashion line, they can indeed work on the fashion catalogues of tomorrow. This unique set of events will bring a positive change in the fashion industry that has been required for years. Brands are pivoting quickly towards digital sales, especially since they want to remain profitable. The new winners might be the small, local, direct-to-consumer brands in the post-virus fashion market. Thus, opening up a much more democratic industry. A brand's endeavours must include expanding its tech resolution or E-commerce operations. The results could extend beyond new talent to the existent workforce as well.
Along with every other sector, the fashion industry is also planning to make a fresh start. Admittedly, as the world turns gradually and cautiously towards reopening, it's time for those in this industry to research. You need to challenge yourself and commit to rethinking these fundamental questions. Covid-19 has awakened internal reflection and provided opportunities for aspirants to do things differently, relate more compassionately to their surroundings. If you wish to enter this industry and emerge out stronger, check out various Fashion Designing courses. The Indian Institute of Art and Design (IIAD) is a leading design institute in the country. At IIAD, the fashion designing students are taught to be environmentally conscious by building awareness and sensitivity. Students develop a healthy value system through ethical fashion practices like zero-waste pattern draping, minimal seam construction and upcycling. IIAD shapes students into contextually aware and humane designers who consider the perspectives of multiple stakeholders.
Created on Jul 6th 2021 08:20. Viewed 175 times.