There is no better example of an industry that heavily relies on trends than the fashion industry has. It is the very nature of fashion to change depending on people’s preferences, lifestyles, and the evolution of society.
The year 2020 will see radical changes in fashion, from fashion shows pushed to online streaming, a significant shift away from luxury brands, to the integration of technology and AI into the manufacturing side of fashion.
1. Effects of COVID-19
There is nothing more significant in changing our entire society than the pandemic that started at the beginning of the year. What was initially brushed off as a flu-like viral infection has now affected the entire world’s population so much that many have called this recent pandemic as one that will define a generation the same way that major world wars in the past have.
The fashion industry, like all other industries, suffered significant losses in revenue owing to stores closing and manufacturing plants shut down in an effort to stop the spread of the virus. Had this happened a decade ago, the industry would have crumbled. But thanks to e-commerce, brands have thrived.
Interestingly, it is the smaller fashion brands, with less overhead costs, that have benefitted from this pandemic. Luxury brands that rely on physical stores much more than online ones saw a dramatic decrease in sales ever since community lockdowns have been put in place.
2. A push for more social
Social media has certainly made a huge impact on our understanding of how society operates. We no longer need face to face interaction as much, relying more on online interaction through social media platforms. This trend did not escape the attention of fashion brands.
This year, we will see more fashion houses and brands becoming ever more meticulous with their strategies to grab people’s attention using social media platforms. Experts believe that this year will be the year for brands to effectively use existing social media platforms in reaching more audiences while at the same time capitalizing on rising platforms.
3. Going local
The year 2020 will be the year that local brands will thrive. There will be more emphasis on convenience and proximity for fashion brands to succeed. From high-end customers to cosplayhero seekers, there are fewer fashion consumers who are interested in driving 30 to 45 minutes just to go to a big city that carries the product they want when there is a local brand selling almost the exact same just down the road from their house.
While e-commerce and online retailers have been steadily growing, in the fashion industry, there a majority of consumers are still making their purchases offline. The target for this year would be to complement physical stores with an optimized and capable web presence.
There are only some of the trends that the fashion industry is slowly heading towards this year. While the industry has severely been affected by the recent coronavirus pandemic, it has been known to endure far worse in the past. But without a doubt, the year 2020 will be a defining year for many fashion houses and brands.