- While the effects vary considerably across the different retail channels, the global fashion and luxury goods retail industry has been hugely affected by the COVID-19 pandemic – including everything from manufacturing to the supply chain, distribution and end consumption.
- Fears over transmission of the COVID-19 virus led to government-mandated travel restrictions and closures of non-essential businesses – as a result, fashion and luxury saw unprecedented shifts in spending, as well as channel shifts.
- Consumer confidence has undoubtedly been hit, with many fearing contagion in the retail space, whilst others have seen little point in buying luxury and fashion in the...
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