COVID-19 has given rise to many new fashion trends in Canada. The industry, which had been facing rough waters for the last few years, finally seemed to be emerging out of the blues in 2019 as traditional fashion categories such as denim, suits and dresses reemerged during the latter half of the year. For three years market had remained relatively flat with minimal growth. Now, many new micro trends have emerged as consumers changed focus from athleisure. The fashion industry was in the midst of a transformation as consumers geared up for rebranding.
Consumers reprioritize comfort and loungewear
Year 2020 changed everything. Fashion sales dipped by over 50 per cent in just two months of March and April. The industry lost -$2.6 billion in market value as consumers reprioritized their spending on essentials. By May, consumers began to accept the situation as the new normal and their interest in fashion resurfaced. With strict adherence to social distancing norms, hand sanitizer, masks and Zoom, consumers again started flocking stores. However, their fashion tastes changed as they focused more on comfort and loungewear. By end summer, the industry started recovering as sales declined just 2 per cent in September and October compared to 2019. Given the current circumstances, this was a huge win for the industry.
Adapting to changing demands
As per a NPD Group study, the factor that influenced consumers’ fashion choices in the past three months was their search for novelty. They also looked for something trendy that made them feel good. Gen Z and millennials represent 56 per cent of Canada’s women’s wear market which indicates a positive future for the industry. As Canadian consumer look to gratify their fashion senses with innovative garments, the industry needs to quickly adapt to changing demands. The industry is definitely showing positive growth signs as it slowly rebounds from these extraordinary times.