COVID-19 AND CONSUMER
Ms. YURYANGLA MUILANG FASHION DESIGNER
T
he coronavirus pandemic is the biggest change most of us will have experienced in the lifetime and lead to the evolution of numerous consumer attitude. As lockdown and social distancing continue, staying home is transforming people’s psychology towards fashion, be it the consumer or the fashion creator they are utilizing this time to think about new projects to cope with the future. The virus is a major sign of a planet to the fashion brands to end fast fashion. This is the time to start envisioning different products and experiences. Future Consumer Life has once again been reduced to the essentials. We are in a stage of rejection unless fashion does fulfil functionality and necessity. Design should now be change in the way that what you offer remains modern. Shifting to Recycling and upcycling to wearing second hand in everyday life can save the Earth from a lot of dumps. I would say passing down outgrowing garments to younger children, swapping, swishing and sharing by giving them a new life is the most convenient way to extend the life of your clothes. It is one key to contribute towards sustainable fashion. Understanding Future Consumer like the way people expect, feel and behave, will encourage us to tackle the changes ahead. We need to look at the modern consumer, and it’s more important than ever to understand what this consumer will want to buy in the short, mid and long-term. According to Andrea Bell, WGSN Insight (May 2020) Industries are having to adapt to a new reality that demands flexibility, resilience and above all creativity. Trends that predicted for the next decade have accelerated to become part of our lives in a matter of weeks. The good news is that times of great crisis lead to tremendous innovation and the designers, creators, strategists, marketers, buyers in fashion industry will rise to this challenge like never. The one thing our current situation can direct us is
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ADAPTING THE NEW REALITY
that the future will come more rapidly than we think. The fashion world will be moving from showrooms to digitally produced campaigns, and a digital shift will prevent buyers from traveling and reduce waste. Holidaying will be local once the lockdown is over, and the consumer will look to natural and biodegradable products. Market Opportunity The long-term economic impact of the coronavirus pandemic is unknown, but the global short-term unemployment rates are daunting. Many people are relying on localized social commerce to supplement income and this shopping behavior will remain strong for the foreseeable future. Identify social commerce platforms for partnerships and Start small by deploying a limited product test, and track what’s gaining in terms of sales and discovery before major investment. 1.Livestream Shopping Coronavirus is normalizing livestream sales for many countries. According to WGSN livestreaming will continue to remain dominant shopping option. It allows them to interact and shop virtually anywhere. Retailers investing in branded live stream shopping events to maximize sales will obtain excellent opportunity. Like how Nike In January 2019, released a limited-edition shoe via livestream on the gaming platform Twitch was able drove high rates of engagement and conversions, and the product soon sold out. 2. AR/VR shopping According to a 2018 Gartner survey, 100 million consumers will shop AR/VR by 2020, and this will continue to grow as a conversational commerce channel. Gartner expects that the implementation of 5G and AR/VR in stores will transform not only customer engagement but also the entire product management cycle of brands and will enhance store traffic issues. Retailers should make the experience sharable as feedback will help to understand the products when purchasing. Around the world, fashion weeks are canceled, postponed, or going virtual. Tokyo, Shanghai, and Moscow have | AUGUST2020
