Demand for woolen items have declined 80 per cent due to COVID-19, says Miles Barritt, Risk and Recovery Analyst, Australian Wool Innovation (AWI). In a Textile Focus report, Barrit adds, the pandemic has shifted primary consumer of wool as well as marketing of the fiber. Demand for formal wear has fallen as casual wear with athletic wear, commuter clothing, and personal protective equipment (PPE) have become more popular. The GDP of European markets has shrunk 8 per cent, while the US remained steady.

With 80 per cent imports, China has emerged the primary market for Australian Wool Innovation organization’s, says Barritt. Other major importers include the Czech Republic, Italy, India, and South Korea. The pandemic has also increased the revenues of online retailers like Amazon and Alibaba 38 per cent and 37 per cent, respectively. Barritt anticipates vaccine rollouts to assist firms in resuming their operations and consolidating supply networks in 2021.