Fashion retail is facing its greatest crisis yet and only the fittest will prevail.
Over a month ago, I, like many others around the world, began to shelter in place as a result of the COVID-19 pandemic. Forced to stay home, I adjusted my life accordingly with Zoom conferences, grocery deliveries or curbside pick-up, doing a few projects and a mix of anxiety for good measure. While all of this has been an adjustment, nothing prepared me for the fitness obsession that would take hold via Instagram and TikTok challenges.
Strength, endurance, flexibility and agility all determine a person’s fitness level. In fashion retail, fitness is measured by brand strength, financial endurance, creative flexibility and operational agility. As brands are in the midst of change they have to assess their current performance level and implement an organizational workout plan that leaves old fashion systems behind.COVID-19 has caused many consumers to rethink how they spend and with who.
This global pandemic has impacted weddings, anniversaries, birthdays, proms and graduations. How can you create a dialogue that bridges communities and eases anxieties, and continues to do that in the future?In a recent report published by Boston Consulting Group, they determined that only a “fraction of all available capital has been invested in fashion and textile technology, leaving many innovators stuck in a financing gap.
Basic e-commerce will no longer suffice in a post-pandemic world. Augmented technology provides users to see the brand’s space in 3-D, but also allows them to experience clothing in 3-D. The possibilities are endless if you have the creative flexibility to leverage the technology.The importance of agility in fitness can only be compared to the importance of operations in retail. Without the ability to move effectively and quickly, your business will be slow and cumbersome.
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