The fashion industry is constantly evolving. As the season changes, people’s tastes transform, and new trends come and go, it weaves the risk into the fashion industry. What’s working today, may curse the fashion retailer the next day. The fashion style has become more unpredictable after pandemics hit the world.
The leading fashion retailers, including H&M, Levi’s, and Nike have experienced dips in revenue. It’s followed by digital innovation, changes in customers’ spending, overturned traditional loyalties, and shifting markets.
There are many factors, including global market expansion, increasing smartphone penetration, harnessing technology and social power, and active customers with disposable income, which are fueling the growth.
However, everything is not so rosy. Even before the corona outbreak, the fashion retailers struggled to maintain profits under the sustainability storm. It’s so because they succeeded in earning visitors and converting them, but failed at nurturing the customer relationships. Let’s understand it in a nutshell.
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