How Will Covid-19 Impact Christmas Trading?
The holiday season is undoubtedly a paramount time in the retail industry. In 2019, the overall holiday retail sales saw a 3.4% jump while online sales increased by 18.8% compared to 2018.
However, the COVID-19 pandemic could exacerbate Christmas sales for 2020. In our latest webinar, Sarah Johnson, the former Head of Merchandising at Asos, shared that while the pandemic will inevitably sever the disposable income of consumers, demands may still be present come Christmas.
Download our report to learn more about the pandemic’s impact on the fashion retail industry and how to optimise data-driven insights to weather the storm.
Travel bans and lockdowns have restricted many from meeting loved ones, possibly contributing to a heightened festive sentiment during Christmas. As a result, retailers must be well-prepared for the upward trajectory once consumer demands revert.
When planning for this year’s Christmas strategy, retailers must:
- Keep a close eye on the current market landscape. The uncertainty of the retail landscape has rendered historical data obsolete. Keeping track of real-time data to decipher trend movements once consumer spending regains momentum helps retailers stay one step ahead.
- Analyse competitors’ merchandising and promotional strategies. More retailers will want to have their fair share when consumers start to purchase again. Optimising retail data to remain competitive will be vital in order to gain an advantage over the saturated market.
To gain more industry insights of the best merchandising practices for crisis mitigation and beyond, watch our latest webinar featuring the CEO of Omnilytics, Kendrick Wong, and Founder of Flourish Retail, ex-Head of Merchandising and Head of China at Asos, Sarah Johnson.
You might also like
Gender-Neutral Fashion: On the Verge of Becoming Mainstream in Southeast Asia?
Non-binary mixed-media artist Alok Vaid-Menon once declared on BoF Voices 2019 that, “We are not a trend. We are not a moment. We are a movement.” Gender neutrality in fashion is indeed here to stay, mirroring global social changes in the 2010s. ‘They’, a pronoun preferred by non-binary individuals such as Vaid-Menon, Demi Lovato and […]
Integrate Your Performance Data With Internal Intelligence for Richer Insights
Market visibility on your competitors is great, but being able to combine this with your internal data in the same platform can be truly game-changing for your business. That’s why we’re hugely excited to announce the launch of our Internal Intelligence feature – a feature designed to help brands navigate the retail landscape of a post-pandemic […]
Market Insights Made Easy for Speed and Precision
With the recent mass digitisation of fashion retail due to the pandemic, merchandisers, buyers, and designers are increasingly relying on insights to power decision-making. The need to move away from gut feel to actionable insights is becoming more urgent given the high level of competition in online trading. For many brands and retailers new to […]
Top 5 Menswear Trends for Spring/Summer 2021
Like most things in this pandemic, the Spring/Summer 2021 menswear trends are not of the usual variety. The runway season itself was atypical, with major brands like Balenciaga and Gucci opting for virtual fashion shows to eliminate any risk of spreading Covid-19. Designers are embracing the new normal not just in the way they present […]
Product Matching: The Wings for the E-Commerce Boom
For the average customer, the entire retail world now fits into a 15” laptop or 5” smartphone. It is true you can find your preferred product for purchase across different e-commerce sites and portals. However have you ever stopped to wonder about the magic that happens behind the screen that allows you to be presented with different options for the same product, same model, and same variant?
How to Build a Demand-Led Pricing Model
In a consumer-driven landscape, a competitive pricing model is one that tallies with consumers’ value perceptions. The knee-jerk reaction during an economic downturn is to aggressively bring prices down to attract cash-strapped customers. However, the sudden drop in prices affects consumer perception, leading to reservations about product quality and long-term value. Adding to the situation, […]