FASHION FORWARD :
Threading a New Path for Local Fashion Retailers
By : Catherine Nanta
It was no surprise that the fashion industry was badly struck by the pandemic last year , as stores were forced to close due to the quarantine to stop the spread of virus , leaving only essential shops like supermarkets , convenience stores , and drug stores to operate . According to a survey by the Philippine Retailers Association among its members at the time , non-essential retailers , including fashion brands , grappled with up to 80 % losses during the Enhanced Community Quarantine ( ECQ ) period .
Fashion Forward to 2021
Moving forward to 2021 , Go shared that despite the situation , fashion is a growing industry .
Even when malls were allowed to slowly reopen , consumers ’ appetite for spending for fashion remained weak amid unemployment and economic uncertainties .
In its report the State of Fashion 2021 , McKinsey and Company stated that the global fashion industry revenue pool in 2020 will shrink by 15 to 20 percent in an Earlier Recovery scenario , or by 25 to 30 % in a Later Recovery scenario ( based on information available September 2020 ).
Facing the threat in a fashionable way
As local fashion brands now face the consequences of the ECQ for three months last year , they still managed to prioritize the most vital part of their business — their community , which includes the staff and customers .
Karimadon ’ s founder Josie Go said that keeping everyone safe in the time of pandemic and extending financial assistance to their employees were the most important decisions she made in 2020 .
While it was a difficult time for the fashion retail brand known for its dresses and gowns , Go didn ’ t think twice to prioritize her people during this trying period .
This was also the first response of Penshoppe Group .
Its Chief Retail Officer Alice Liu , shared , “ We made a conscious decision to be of service to our customers and our community . We immediately pivoted our product lines to include wellness and protection products and to cater to the new work-from-home situation , which were immediate needs of our market , especially at the start of the pandemic – and made them available on several e-commerce channels so customers can shop at their convenience .”
And while their stores were closed during the ECQ , the three-decade old retail brand stayed active in providing assistance and vital supplies to their communities and to medical frontliners .
On the other hand , Anthem Shoppes Marketing Manager Justin Pua noted that being in the retail industry , their products “ rely heavily on first person interaction and fitting of our garments .”
“ We immediately changed our mindset from a traditional brick-and-mortar store business into one that offered e-commerce and store-to-home delivery . We are proud of the turn out and response of the customers towards our other shopping options , that made selling fashion more instant , personal and convenient ,” said Pua .
“ Trends and styles change ; may it be from super stylish pieces pre-pandemic to lounge chic ! As a brand you just have to adapt and be mindful on what the market wants and needs .”
When asked about what could be the trends in fashion this year , she noted that with the pandemic still here , people are still leaning towards loungewear and chic casual pieces .
She also believes that the best way to reach customers is still through social media , e-commerce and all online platforms .
" We are in the digital era now and a way to grow is to learn and execute good marketing ," she said .
For Liu , this year will be a state of reconstruction – finding and incubating areas of growth are key to remaining relevant to the very different needs of the customer from where they were a year ago .
“ Now more than ever , the market is accustomed to much variety in access and choice , and so , brands need to justify their positions in the consumer ’ s spending priorities , she said .
The Penshoppe Group expects that spending capacity will not return to pre-pandemic levels just yet . So , there is a need to balance unlocking new opportunities and managing operating costs .
Liu added that aside from strengthening the linkage between brick-and-mortar and online experiences , sustainability also remains to be a strong priority for brands , with more and more looking into eco-friendly technologies , circularity , materials , and products .
Anthem Shoppes which handles brands like Original Penguin and Champion is optimistic that 2021 will bring them new opportunities to reach customers .
“ The company continues to plan expansions offline and online , to bring our well-loved international brands closer to Filipinos , so that they don ’ t have to travel far during the pandemic . 2021 also gives us a chance to invest efforts in building a stronger support system for our stores — focusing on logistics and information technology . We look forward to introducing our customers to new retail experiences in 2021 ,” Pua added .
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