Apparel and retail are facing a new reality and continuing to transform as the coronavirus pandemic remains in many parts of the world. Many fashion and apparel executives felt pessimistic about the future of retail at the onset of the pandemic – but the brands that have thrived the most are the ones that have maintained a strong-willed strategy and determination to survive.
While this industry saw significant losses in 2020, the opportunity for apparel and fashion brands to innovate and become a consumer favorite has never been higher. The global apparel market was worth a whopping $1.5 trillion last year and is expected to grow to $2.25 trillion by 2025.
In this infographic, you’ll uncover the latest fashion and apparel trends and stats, how the coronavirus pandemic has impacted this industry, and tips and strategies for apparel and retail brands in a fluctuating market.