The Drastic Way That Covid-19 is Impacting Fashion Retail

When Covid-19 panic was in its early stages, it seemed like fashion retailers left and right were marking down their apparel. Stores such as Nordstrom Rack sold expensive garments at half, or more, off of the original prices.

Though this unfortunate time for the world has been no celebration, retailers seemed to be hosting their own resurgence of Black Friday. With so many people initially taking advantage of these deals, it hasn’t been a wasted venture for businesses.

Why then are so many fashion retailers said to be entering a decline? Some may argue that the major sales hurt these brands, while others put all of the blame on the coronavirus. 

Here’s the thing. Consumers are spending their money, but with the government sanctioned quarantines placed on them, they are prioritizing a different kind of shopping spree: groceries and household essentials. For some people, local grocers have run out of items like toilet paper, so the race to find these daily basics has taken precedence over fashion retail. 

This decline in retail is not only due to consumer choices though. With the shipping delays caused by coronavirus, a number of fashion retailers cannot ensure that products will ship as usual. Orders that would normally ship within a week are being delayed by an additional two or three weeks of transportation, screening and delivery time. 

The true loss throughout this decline is felt by those smaller, one-of-a-kind clothing boutiques that do not have the capacity to ship their pieces and can’t retrieve small business loans. Small businesses around the country have suffered, as many chose not to take out business loans prior to the virus outbreak. In turn, these businesses don’t have relationships with the bank and aren’t being approved for the loans that would help them to stay afloat. More unfortunately is that these business owners and their staff are being laid off from their jobs and fashion retail deals are not necessarily at the top of their priority lists.