Fashion Industry Must Change Its Colours To Survive In Post-Pandemic World

The pandemic forced most non-essential businesses, including the fashion ind­ustry, to shut down for a period. Due to the switch to “work from home,” many people transitioned to wearing casual, basic and essential apparel. Fashion and apparel are not just basic needs, but also tools for self-­expression and identity. As people could not shop for or wear new styles­—because of general (proh­ibited access to shopping venues) and personal (low or no disp­osable income)—restrictions, they suffered emotional distress. Research in consu­m­­er behaviour suggests more women than men use “retail thera­py” to resolve such distress. As the world emer­ges from pan­demic-induced bans, busi­n­esses are reopening, and consumers are preparing to shop to alleviate their emo­ti­­onal troubles.

One good thing brought about by the pan­demic was the downtime—allowing profess­i­o­nals, inclu­ding those in the fashion industry, the space to thi­nk and explore. Without the pressure of deadlines and commitments, many creative professio­nals, such as pro­duct deve­l­opers, designers and art­­­­i­sts could work on in­n­­ovative and creative ide­as, helping their creativity to blossom­,­ resulting in inventive new products. As the world leaves the pandemic beh­ind, fashion is expe­­­riencing a similar revival. Simplicity, elega­n­ce and minimalism have gained traction, as has the increased importance of cas­u­­al wear and athleisure. In fact, “cas­ualisation” is expected to be a big trend in the near future. Fash­ion firms and brands focusing on cas­ual wear and products will see a rise. Luxury bra­nds will also excel, as their target customers have higher dispo­sable incomes and are not price sens­itive. This is the beauty of India’s diverse consu­m­er market, which gives pla­y­ers an opp­­­o­­­rtunity to succeed by app­ealing to different segments.

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Covid has pushed businesses and consumers to bring some of their plans and practices forward by a few years. Most consumers used to buy from bri­cks-and-mortar stores; e-commerce comprised approximately 10 per cent of their total revenue. But when these stores shut down overnight, online shopping revenue rose by alm­o­­st 25-50 per cent. Even as the pandemic recedes, this upward trend for e-commerce will con­tinue. Businesses have learnt that omni-chann­el outre­ach—through integration of phy­sical stores, websites and social media—is a necessity and retail can’t avo­id investing in it. Small mom-and-pop stores are no exception. If they don’t ada­pt, they won’t be able to satisfy either current or future needs of consumers, which will ultima­tely affect their bus­iness.

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Over the last few years, consumers have switc­h­ed from buying commodities to products, serv­ices and finally experiences. Bus­i­nesses too have added value by adapting what they sell. American authors B. Joseph Pine II and James H. Gilmore, in an article in 1998, named this concept the “exp­erience economy”. Before the pandemic, there was significant emphasis on providing the best possible experience to consumers, apart from sel­ling them products and services. The pandemic thwarted that progress; consumers reverted to buying only essential products. Even though bus­inesses are gradually reopening now, engaging consumers through innovative experiences has become a challenge for them. On their part, consumers are focusing more on ease, convenience and safety than the ultimate engaging and satisfying experience. Fashion brands, therefore, will face bigger difficulties in drawing consumers and providing new experiences. However, this situation will change; focus will slowly shift to providing memorable, authentic shopping experiences, which will help fashion brands distinguish themselves and achieve a competitive advantage. Mai­n­­taining an enhanced online presence, being aut­­hentic, doing business with true purpose and meaning, conducting business dealings with int­egrity and honesty, practicing diversity and incl­usion and promoting equality, honesty and sus­­­tainability, will help fashion brands increase their customer base and do business.

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Pre-pandemic, the buzzwords “sustainable” and “green” were gaining momentum among fas­hion brands and consumers. Covid-19 has acc­ele­rated this. Sustainability will be a critical asp­e­ct of how the fashion industry works and how consumers make purchase decisions going forward. Fashion businesses will pra­ctice sustainability in their manufacturing and by treating empl­o­yees fairly, caring about their communities, and minimising environmental impact. Fast fashion bra­nds, which develop and deliver their products quickly to consumers, will maintain their popularity. How­ever, they will come under closer scrutiny for their unsustainab­le business practices. Such brands will try to emphasise consumer concerns such as affordability, environmentalism, and self-­expression. With increasing emphasis on sustai­nability and green apparel, which coincides with younger consumers’ preferences and attitudes, consumers will make shopping decisions that are more sustainable, as well as better for their fina­n­ce, health and well-being.

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Despite a conservative out­look, many fashion brands will try to attract young con­sumers by catering to their liberal and progr­essive attitude and mindset through increa­sed focus on inclusivity, equality and gender neutrality. Fashion lines geared toward plus-size pop­ul­ations will draw attention. Further, fashion mag­­a­­zines may break beauty/size barriers by featuring plus-size models on their cover pages and advertisements. Likewise, with the sweeping ref­orms concerning LGBTQ rights, the fashion ind­ustry will be inst­r­umental in raising awa­reness among consumers. Adventurous fashion brands will not hesitate to communicate such values via traditional and social media, runway shows and product lines.

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With the spate of recent controversies in Bolly­wood, its movie stars and celebrities are, to some extent, losing their appeal for the wider audience, which naturally reflects on their brand endorsements. Consumers are more willing to listen to and follow influencers who share the same values as them, who demonstrate and review products on social media, and who actively engage consu­mers with the brand. Such mega and micro social media influencers will play a more prominent role in the fashion industry in the near future. Str­uggling but creative designers will be able to take advantage of social media marketing and inf­luencers to reach out to target audiences and engage them with new fashion lines, making a good impact. If they fail to leverage this influential medium, it will be a missed opportunity.

Fashion businesses that are flexible and adaptable will survive and excel. There have been seve­ral disr­uptive innovations in fas­h­ion retail of late in Western markets, like subscription box retailing, digital native bra­n­­ds and direct-to-­consumer selling. Mor­eover, busine­sses based on the sha­r­­ed economy concept (e.g., Uber, AirBnB or Rent the Runway) are flourishing. The­y will make an impact by displacing traditio­nal retail practices. Use of advanced tech­no­logy in product design and manufacturing (e.g.,­­ 3D printing), supply cha­­in (e.g., RFIDs, NFCs, blo­ckch­a­in), marketing (e.g., social media influencers), and retailing (e.g., use of augmented reality, virtual reality and artif­icial inte­lligence) will be incorporated into regular practice in the future.

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The global supply chain was hugely affected by the pandemic. Recovery may take another 12-­18 mon­ths. Globally, many firms have been forced to cancel their ord­ers or manufact­u­re/sou­rce loca­l­ly. This trend of “local over glo­b­al” may conti­n­­ue. Lockdowns have taught us that nations have to self-sustain where they can. Con­sidering Ind­ia’s advantages (young minds, political stability, business-friendly regulations, man­ufac­turing cap­acity, compliance and accountability), the country is poised to emerge as one of the most fav­oured fashion apparel exporters.

(This appeared in the print edition as "Chic Business")

(Views expressed are personal)

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Amrut Sadachar Associate Professor of Apparel Merchandising and Design, Consumer and Design Sciences Department, Auburn University, USA