The Coronavirus outbreak has upended the apparel industry, leading to the worst sales drop in U.S. history. Discretionary spending has fallen across the nation, leaving apparel retailers and brands especially vulnerable.
Many retailers will not survive the crisis, causing a full overhaul of the existing landscape. However, we are beginning to see signs of recovery in recent months as consumers resume spending on clothing, shoes, and accessories, and as retail businesses reopen their stores.
In this whitepaper, Similarweb’s Caroline Kim, Lead Consultant for Consumer Products and Apparel, offers an industry outlook, shedding light on changing consumer habits in the apparel space and emerging trends to focus on as we head towards a new future.
Insights you will find in the whitepaper include:
- The rise of the seasonless wardrobe and its threat to fast fashion
- How D2C brands can fill the void left by traditional omnichannel retailers
- Adapt or disappear: consumers’ buying habits are forcing retailers to change
- Rental and resale offer brands a sustainable way to target the eco-conscious consumer