After seeing static retail volume sales and notable current value growth in 2019, in 2020 apparel and footwear saw a decline in volume terms, along with a slower value decline. With the arrival of the COVID-19 virus in the country in March of this year, the government implemented a hard lockdown. Apparel and Footwear in South Africa...
The fast-spreading COVID-19 dampened economic prospects in Turkey in 2020. This resulted in a direct hit to consumer confidence in the second quarter of 2020 following the first case of COVID-19 in March. Like many countries around the world, Turkey implemented lockdown measures to curb the spread of the virus, and retail outlets deemed non-essential...
The availability of apparel and footwear was restricted by the Movement Control Order (MCO) enacted at the onset of the pandemic by the Malaysian government in March 2020. The MCO called for the complete closure of non-essential stores including department stores and shopping malls. During this time, only essential stores were allowed to operate,...
Apparel and footwear registered a notable decline in value sales in 2020 due to the impact of the COVID-19 pandemic. Store closures during Norway’s lockdown combined with social distancing guidelines had a significantly negative impact on sales across all categories. At the onset of the pandemic in March and April, brands heavily reliant on...
The COVID-19 pandemic had a limited impact upon apparel and footwear in Taiwan in 2020 as the government managed to get the virus under control relatively quickly and consumer behaviour was only significantly impacted during Q1. During this time consumers tended to steer clear of large department stores, instead prioritising their spending...
In South Korea, there were nearly no restrictions in terms of daily lives in 2020. Most restrictions pertained to a mandatory two-week quarantine when an individual showed symptoms such as a fever, returned from visiting a foreign country, or encountered someone who was infected. Since there was no strict lockdown, GDP did not fall as much...
Apparel and footwear registered severe sales declines in 2020 as the industry found itself on the receiving end of the worst impact of the COVID-19 pandemic. Indeed, apparel and footwear was one of the consumer goods industries hardest hit by the COVID-19 situation worldwide during 2020 and this certainly applied in Indonesia. Apparel...
Abstract: - As the wedding industry goes into turmoil with the COVID-19 pandemic hijacking social life and pushing business as usual practices against the wall, Bridal Wear is in for severe short and medium term challenges. A tiny virus has changed the social, business and economic landscape beyond recognition, as businesses...
Major companies in the apparel market include NIKE Inc; Adidas AG; VF Corporation; PVH Corp and Hanesbrands Inc. The global apparel market is expected to grow from $527.08 billion in 2020 to $635.17 billion in 2021 at a compound annual growth rate (CAGR) of 20.5%. The growth is mainly due to the companies rearranging their operations...
Apparel and footwear in Germany was strongly impacted throughout 2020 as a result of the pandemic. Due to the fashion-driven and non-essential nature of this market and the strong reliance on store-based retailing in generating revenues for almost all major brands, the disruptions caused by government-imposed lockdowns resulted in the closure...