According to a new Forrester report. with the COVID-19 pandemic ravaging several industries amid poor consumer spending, global retail sales in 2020 will decline by an average of 9.6 per cent, resulting in a loss of $2.1 trillion

The impact on India and Japan is to be severe due to the strict lockdowns, the declaration of a state of emergency in Japan, and the postponement of the 2020 Summer Olympics.

The likelihood is that the epidemic will last seven months, and from 2021 retail categories, that have declined by more than 10 per cent, will only bounce back to 90 per cent of pre-pandemic spend.

In the worst-case scenario, lost online sales could reach $510 billion, and even in the best case, retailers will lose $244 billion in online sales, the report mentioned.

In 2020, there will be a significant decline in global retail sales, particularly with non-essential items sold offline, which will be a big challenge for brick–and–mortar retailers.

While offline non-grocery retail will contract by 20 per cent, eCommerce sales will remain flat this year.

In Asia Pacific, the loss of sales is predicted to reach $767 billion in 2020, a decline of 10 per cent from 2019.

China is the most negatively affected country in the region, with $192 billion of retail sales lost in January and February.

Online sales will remain flat, and an average of $360 billion in online retail sales will be lost globally in 2020 compared to pre-COVID-19 forecasts.

In 2020, global online retail sales will grow by only 0.6 per cent compared to 2019.

In the US, retail sales will fall by $321 billion in 2020, a decline of 9.1 per cent from 2019.

Around 611 RMG units in Noida have been granted permission to start work, but with certain conditions set by the State Government. The administrative staff of these factories was struggling to get permission since last few days.

As per orders, Exporters like Shahi Exports, Radnik Exports, Global Mode and Accessories, CTA Apparels and others who also have many factories in Noida, got permission for all the units requested by them.

Lalit Thukral, President, Noida Apparel Export Cluster, who played a key role in getting this permission, thanked the State Government and administration. However, there are around 3,000 apparel manufacturing units in Noida who haven’t been granted permission so far.

The World Textile Information Network (WTiN) based in UK will organise a virtual trade show providing a platform for companies to showcase their development and innovations in various fields including technology and material.

The event will be held from 1 to 31 October 2020. The highlights of the event will be technology and material, textile technology like production of manmade fibres, garment assembly, materials for manufacturing of sportswear, PPE to every kind of fabric.

There will be a virtual booth where exhibitors would be able to showcase videos of their innovations, technologies and any kind of offerings.

Moreover, visitors will be allowed to visit booth, fix appointments to meet company representatives and will be able to chat with exhibitors for any queries and communication.

The event will be giving an opportunity to the visitors and suppliers for collaboration and entering into new partnerships.

Similar to a physical event, the Innovate Textile & Apparel virtual trade show will include online presentations on various topics by the industry leaders, in addition to having seminars and round table discussions on latest topics pertaining to the industry.

Furthermore, to make the show accessible for audience from different parts of the country, the content will be available in different languages including Chinese, Japanese, Spanish and Turkish. The presentations and seminars will have subtitles in the preferred language of the viewers.

It is important to note that the WTiN’s Innovate Textile & Apparel conferences are also currently being held online from 5 May to 30 June 2020, with focus on Industry 4.0 in textile and apparel manufacturing, the impact of smart and novel textiles and digital transformation business strategies. The interested participants can visit ITA website for more information and registration which is now open.

The World Textile Information Network (WTiN) based in UK will organise a virtual trade show providing a platform for companies to showcase their development and innovations in various fields including technology and material.

The event will be held from 1 to 31 October 2020. The highlights of the event will be technology and material, textile technology like production of manmade fibres, garment assembly, materials for manufacturing of sportswear, PPE to every kind of fabric.

There will be a virtual booth where exhibitors would be able to showcase videos of their innovations, technologies and any kind of offerings.

Moreover, visitors will be allowed to visit booth, fix appointments to meet company representatives and will be able to chat with exhibitors for any queries and communication.

The event will be giving an opportunity to the visitors and suppliers for collaboration and entering into new partnerships.

Similar to a physical event, the Innovate Textile & Apparel virtual trade show will include online presentations on various topics by the industry leaders, in addition to having seminars and round table discussions on latest topics pertaining to the industry.

Furthermore, to make the show accessible for audience from different parts of the country, the content will be available in different languages including Chinese, Japanese, Spanish and Turkish. The presentations and seminars will have subtitles in the preferred language of the viewers.

It is important to note that the WTiN’s Innovate Textile & Apparel conferences are also currently being held online from 5 May to 30 June 2020, with focus on Industry 4.0 in textile and apparel manufacturing, the impact of smart and novel textiles and digital transformation business strategies. The interested participants can visit ITA website for more information and registration which is now open.

McKinsey published an analytical report on Chinese apparel, fashion and luxury market, to help international brands restructure their sales strategy and become more competitive in Chinese market. The report suggests although Chinese consumer confidence went into a tailspin the zero-spread lockdown that affected incomes critically, 2023 sees confidence returning after stringent lockdowns were lifted. Prediction is, the sector will experience double digit growth, moving forward, as the Chinese middle-class will once again indulge in their penchant for all things luxury.

However, this does not mean international brands will find the market easy sailing. As the report says in 2021, Chinese brands outperformed international brands in a ratio of 60:40. This trend has been gaining ground since 2013 with local brands steadily capturing more market share year on year. This begets the question what Chinese winning brands are doing to outsmart international ones.

Local brands playing to their advantage

Being based locally provides greater agility in adapting operating models quickly in response to immediate market dynamics which international brands find difficult to match as they are bound by decisions from their headquarters, mostly in the US and Europe. Having this agility also helps managing supply chains quicker as local brands have a better network simply because all supply is also local. As Chinese e-commerce channels and social media are intrinsically insular and tailored to only Chinese consumers, leveraging them accurately is another huge advantage. Local brands have excelled in engaging Chinese consumers with local key opinion leaders and social influencers and at a scale no international brand has been able to.

What global brands need to do

As per McKinsey the first thing international brands need to implement is move away from their global positioning which in most cases don’t resonate with main Chinese consumer segment, the middle class, who often cannot comprehend or relate to Western positioning concepts. Therefore, the value proposition which in most international brands seem to be individualistic experience based needs to be reworked, often exclusivity and impeccable quality being the baseline that are relatable.

Local product relevance is the big winning ticket for international brands. Those who have written their Chinese success stories are ones that usher in their global assets and intellectual property and then gradually incorporate local designs and styles more suited to local cultural and social preferences and trends. Successful brands have found that nothing beats being locally relevant. Having the right social media content generated by local content creators who have a finger on the local trends prevalent further strengthens the local appeal process.

Especially in a market like China that is extremely technology and digital savvy, the right mix of technology and digital infrastructure is going to play a crucial role in consumer outreach, call to action and thereafter sales. International brands will find it an absolutely must to deploy a local in-house team that can work in tandem with the global team to create the most effective communication and engagement. Thus, international brands have to mimic the agility of operations and hiring talent who can become local assets in ensuring the best of a wide supply chain that can be started off as and when the need arises and it does, most times.

McKinsey’s recommendation on being successful in China is based on close analysis of brands that have got it right. For Shanghai Tang and Bosiden, there are Gucci and Raplh Lauren, the later having successfully acquired double-digit growth in 2022 according to President & CEO Patrice Louvet.

Dallas-based online men’s custom clothing brand J. Hilburn has filed for Chapter 11 bankruptcy. The company, which was founded in 2007 in Dallas and made it through the Great Recession as a startup, is trying to reorganise under the protection of the U.S. Bankruptcy Court in Dallas. The tailored men’s clothing line tried to pivot some in recent years by adding more casual apparel, including jeans, but its main lines were formal wear, custom suits and shirts. The company laid off an undisclosed number of employees at its Dallas headquarters last month.

Hilburn sells through a network of personal stylists and directly to customers online. The company said it anticipates no interruptions in business, and all current and future orders will be filled. Stylists work on commission and meet with customers at their homes, offices or in showrooms in Dallas, New York, Boston and Bellevue, outside of Seattle. J. Hilburn owes $15,621 in rent to Inwood Village, where it opened its first showroom in 2016. J. Hilburn said in the initial filing that it has assets of under $10 million, but it owes more than that to vendors. Debts include $6.55 million to Hong Kong-based TAL Group, $806,052 to Portugal-based Criaimie Rua do Facho and $665,957 to the supply chain solutions division of UPS. It owes $2.73 million on a term loan with Austin-based Escalate Capital Partners. Several shareholders were listed from Dallas and Menlo Park, Calif. The company raised $13.8 million in 2013, and it’s listed as an active investment of Boston-based Battery Ventures.

Dallas-based online men’s custom clothing brand J. Hilburn has filed for Chapter 11 bankruptcy. The company, which was founded in 2007 in Dallas and made it through the Great Recession as a startup, is trying to reorganise under the protection of the U.S. Bankruptcy Court in Dallas. The tailored men’s clothing line tried to pivot some in recent years by adding more casual apparel, including jeans, but its main lines were formal wear, custom suits and shirts. The company laid off an undisclosed number of employees at its Dallas headquarters last month.

Hilburn sells through a network of personal stylists and directly to customers online. The company said it anticipates no interruptions in business, and all current and future orders will be filled. Stylists work on commission and meet with customers at their homes, offices or in showrooms in Dallas, New York, Boston and Bellevue, outside of Seattle. J. Hilburn owes $15,621 in rent to Inwood Village, where it opened its first showroom in 2016. J. Hilburn said in the initial filing that it has assets of under $10 million, but it owes more than that to vendors. Debts include $6.55 million to Hong Kong-based TAL Group, $806,052 to Portugal-based Criaimie Rua do Facho and $665,957 to the supply chain solutions division of UPS. It owes $2.73 million on a term loan with Austin-based Escalate Capital Partners. Several shareholders were listed from Dallas and Menlo Park, Calif. The company raised $13.8 million in 2013, and it’s listed as an active investment of Boston-based Battery Ventures.

A new generation of consumers in post-pandemic times is making it easy to buy and sell second-hand apparel, shoes, and accessories on a variety of online resale platforms. Buyers can browse through a versatile portfolio of premium and luxury brands. Analysts say one in every three apparel items bought globally in the last year has been second- online resale platforms hand with 37 per cent consumers spending their limited budget in the pre-loved segment as inflation rises.

The resale and pre-loved branded goods market is a quick growing one with many retailers adding this segment to sustain their core business. There is now a rising tide of retailers and brands that want to understand how to develop a retail strategy that includes second-hand and creating a brand USP that is profitable to both the customer and the company.

Report predicts global market growth

Many online resale platforms for apparel, shoes, and accessories are doing very well in the sale of second-hand apparel as consumers gravitate towards this segment amid economic uncertainty. Online thrift marketplace ThredUp- one of the largest online resale platforms –recently revealed its 2023 resale report which predicts by 2027, global resale market will reach $350 billion, with the US market growing to $70 billion.

Apparel retailers are now accelerating their pre-loved resale marketing strategies and last year, around 88 brands launched resale programs with many partnering with ThredUp’s Resale As A Service or RaaS. In post-Covid times, two out of three retailers who offer resale, feel it is an intrinsic part of their long-term growth strategy and overall profit figures.

Anthony Marino, President, ThredUp in an interview to Forbes said: “Consumers search for value in a crisis. Consumers bought 1.4 billion pieces of secondhand apparel items instead of new last year. That’s a 40 per cent increase from the year before. People in their minds, are connecting the purchase of the secondhand item, and are acknowledging that it impacts the environment. 2022 was a year when retailers were struggling and we noticed that they needed a strategy for resale.”

According to ThreadUp, growing demand has propelled the second-hand industry for apparel, shoes and accessories to $177 billion in global sales last year, a 28 per cent increase over 2021. This is mainly due to surging inflation and more retailers who are curating resale and pre-loved offerings along with an increased awareness of sustainable shopping habits. The ThredUp 2023 report, which relies on research and data from third-party retail analytics firm GlobalData, has predicts the second-hand industry will double to $351 billion in global sales by 2027.

As per Marino, Threadup’s Fashion Footprint Calculator asks a couple of questions to find out if one is a net polluter or not. Without preaching, it offers information and shows you how to improve by buying a few more products that are secondhand rather than new.

Selling second-hand items online stores are an attraction for those looking for branded clothes but have budget constraints. Chinese retailer, Shein, which focuses on a fast fashion model, entered resale space last year with Shein Exchange site. Likewise, H&M launched an online resale platform with ThredUp and H&M’s recent annual reports have said it expects climate-aware consumers to buy more sustainable products in the future which indicates a potential shift in consumer preferences in post-Covid times.

With the Gen Z most attracted to resale and larger fashion companies looking to reduce their greenhouse gas emissions and water and plastic footprints, the rise of secondhand and other circular business models is on the way up and up in the turbulent days of global inflation ahead.

Endeavoring to spread greater consciousness about denim’s worth and to maintain the creativity surrounding the beloved blues, Murianni Cristian started Denim Instituto Milano.

The aim of the institute is to train new generations of professionals in the denim sector, by developing courses around craftsmanship and tradition. It’s an education for tomorrow’s denim leaders, and one Murianni personally believes in.

The Denim Institute Milano addresses new generations and not only that, its goal is to overturn the tendency of diminishing fabrics’ value and to enhance its Italian origins.

Endeavoring to spread greater consciousness about denim’s worth and to maintain the creativity surrounding the beloved blues, Murianni Cristian started Denim Instituto Milano.

The aim of the institute is to train new generations of professionals in the denim sector, by developing courses around craftsmanship and tradition. It’s an education for tomorrow’s denim leaders, and one Murianni personally believes in.

The Denim Institute Milano addresses new generations and not only that, its goal is to overturn the tendency of diminishing fabrics’ value and to enhance its Italian origins.