According to a study, the sales volume of the fashion trade is still well below the pre-crisis level. And the increased demand for online shopping could also put a strain on retail in the future.
According to a study, the fashion trade in Germany will not be able to fully make up for its corona-related sales losses this year either.
Despite a recovery in the market, the sales volume will still be 10 percentage points below the level of the pre-Corona year 2019, reported the Institute for Retail Research (IFH). Small fashion stores in particular, as well as department stores and department stores, are under pressure.
Last year, according to the study, the Germans had spent around 8 billion euros less on fashion than in 2019. Sales were just under 50 billion euros. Sales of men’s clothing (minus 17.2 percent) and women’s fashion (minus 15.4 percent) fell particularly sharply. Product groups from the workwear category were among the few winners on the fashion market. Aprons and protective clothing were bought more often than usual.
More and more fashion is being sold online. The proportion rose by almost 10 percentage points to just under 40 percent, according to the study. Even buyers loyal to the stores before discovered online shopping for themselves during the crisis. “It is not to be expected that these consumers will in future completely forego the convenience of online shopping,” expects IFH fashion expert Hansjürgen Heinick. As a result, the market share of the specialist trade will continue to decline.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
