Adjusting to a Season-less Calendar
We’re in the heart of summer, heading into F/W and the shifts from Covid-19 changed the way people think, the way consumers buy, and people’s perspectives moving forward. Covid-19 has also expedited certain industry and consumer buying trends fueled by shoppers’ “buy now, wear now” mentality. With instant gratification and the vast access of styles shared to reach thousands of people with the share of social media content, in addition to many brands and design houses cutting down on number of fashion shows per year, this is the new normal for consumers and the mentality retail industry must keep in mind when reviewing their merchandising strategy. While it’s still good to plan ahead and our retailers are exceptionally known to be good at this, making informed decisions on what retailers can sell through especially during uncertain times is necessary.
Buy Now, Wear Now Consumer
The first thing to note as society begins to transition to this post Covid-19 phase, is to remember to re-align our products to match consumers’ needs. Gary Wassner of Hilldun Corporations stated, “today’s consumer is a buy now, wear now consumer… shopping according to the seasons is an outdated mindset.” His belief is that the reason there is a lot of overstock for retailers to currently sell through is due to the retail cycle that requires months in advance for shipments to come through. This is a new change that will take time and hard work for retailers and brands to transition to post-pandemic, but the more they listen to the consumer’s needs, the better this will be long-term. Having stronger relationships and building partnerships with the manufacturers and vendors you’re working with will help in adjusting the production schedules to fit the current times.
Changes on Discounting and Seasonal Markdowns
Traditionally retailers would discount twice a year for a mid-season sale and an end-of-year sale to clear out inventory for the next season. However, now with the move towards a season-less fashion calendar, these set discount days are not as relevant. The trends have changed to seeing more in-season sales such as Cyber Monday and discounting earlier on in the year, as early as March 2020.
Rethinking Fashion Shows and Runway Trends
By the time Covid-19 hit Europe, it was just after Milan Fashion Week in February 2020. With the restrictions in place, fashion shows and trade shows had to be rescheduled and even redesigned. We’re beginning to see many new shows being available through streaming platforms like YouTube and even a change in trends. The men’s and women’s collections will begin to be featured together where the styles may begin to blur unifying trends of an extended period of time.
So what is next?
Many believe shifting the fashion calendar is the best way to navigate this time, even though it comes with considerable risk. Despite the uncertainty, in light of the pandemic, we will need to be comfortable with risk and change. As we continue to evolve, we strive to grow together as one community while providing important research and insight for informed decisions.
