Implications of the crisis
We analysed the impact of the crisis globally and validated them against market data. Below are the key implications that we’ve covered in our report:
Brick-and-mortar sales hit severely
Brands reported an 80% drop in footfall traffic.
Luxury bracing for the worst
Research predicts losses to reach €40 billion.
Fast-fashion under pressure
Low footfall forcing retailers to markdown new arrivals.
Prolonged factory closures indicate delay in stock deliveries.
Shoppers go digital
Social media emerged as a vital way to keep consumers engaged.