How redundant is the handbag if you don’t leave the house? Same goes for shoes. This sounds like a surrealist-type manifesto of some ancient and useless items of dress or culture, yet perfectly sums up how quickly something can go from essential to unused. Fashion has always had a intertwined relationship with ‘want’ and ‘need’, they coexist; one propels the other, and, the other way around, it justifies it.
We’ve suddenly lost a lot of the need and therefore the want has waned. For many, clothing is a need only option and, apart from a new pair of joggers or PJs, all those prom outfits, wedding outfits, birthday outfits and all the other fashion treats that keeps the wheels of fashion turning have lost all momentum and become a missed sale.
The latest figures from the IMRG Capgemini Online Retail Index, which tracks the online sales performance of over 200 retailers, saw online retail sales growth was down -2.2% year-on-year in the first week of the Government’s lockdown guidance, but the clothing sector saw growth plummeting -26.7% year-on-year, and -22% week-on-week. Those result were even more stark across footwear, with growth tumbling -38.2% year-on-year, and -22.9% week-on-week.
Online sales too will grind to a halt with some large retailers closing their websites.
But, there has been an online boom, it's just that it doesn't include fashion. Adobe Analytics analysed data from trillions of visits to retail websites and from millions of product SKUs, finding that online grocery purchases are leading the eCommerce boom. Among the most popular items in people's internet shopping carts: Health products, gym equipment, toilet paper and canned foods. Online orders for fitness equipment like kettlebells, dumbbells and treadmills a saw 55% boost.
People too have begun spending money on board games, puzzles and video games. Notebooks are flying off the shelves and Mike Norris, chief exec at Computacenter - one of Europe's largest resellers said he has been signing "500, 1,000 or 2,000 laptop deals" with business customers that are equipping employees for remote working. He noted similar spikes in sales of monitors, virtual private network services and wireless LANs.
Fashion may not be fully redundant, just yet, temporarily and creatively furloughed, you could say, but with so many things cancelled in the future, even months after lockdown finishes, fingers crossed, those occasion spending needs will take even longer to turn into wants.
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