The Naked Truth About Apparel’s Future
Oct 22, 2020
The pre-COVID “retail apocalypse” was already, arguably, an apparel apocalypse. Well before the disease outbreak, apparel sales growth was ebbing, workplace and special occasion dress was more casual, and the embattled middle class had to be picky about what they spent their money on. All that, plus other political and economic forces led McKinsey, in a report released with Business of Fashion last year, to warn apparel retailers that their 2020 sales would “slow further,” due to “consumers being increasingly cautious amid broader macroeconomic uncertainty, political upheaval across the globe and the continued threat of trade wars.” Read more at Retail Dive.
