Across many countries where the newest strain of the Coronavirus (COVID-19) has made an impact, therefore isolation and social distancing measures have been put in place. Employees have been asked to work from home, cities have been placed under lockdown, and schools have been shut down. People around the world have also begun avoiding public, crowded places.

According to a March 2020 YouGov survey, 85% of internet users in China and 83% of those in Hong Kong said they had avoided crowded public places in the past two weeks. Just more than a quarter (27%) of those in the US and 14% in the UK said the same. A February 2020 Coresight Research survey also showed that 27.5% of US internet users were avoiding public places.

Why Should Fashion Retailers Embrace Digitization?

According to a study conducted by McKinsey reported that the internet influences 80 percent of luxury sales. The facts mentioned in the above depict, this is the crucial time to realize the importance of the digital sector. Underestimating could kill even the most successful brand, so creating a progressive digital strategy is now a requirement for fashion retailers and manufacturers. It should be noted that most luxury brands have already embraced the omnichannel experience by having online platforms in place. Consequently, those digital outlets can become an extension of digital brand strategies, which can easily be incorporated into long-term business plans.

Digitization would give them the upper hand because retailers will eliminate partnerships with local department stores, helping reduce business transaction costs. Moreover, by engaging with the aspirational class in its habitat, digital outlets can win the battle against local, entry-level luxury brands that already have a robust online presence.

Consider an instance of Florentia Village, a Shanghai-based designer outlet that incorporates digital technologies to convert web traffic into foot traffic. The e-commerce platform is also backed by a widely successful WeChat Mini Program that features reward offers, a membership program, and information on ongoing promotions. The latest to join this trend is Condé Nast Italy, as it is offering digital copies of all its titles for free for the next three months. According to the Italia chief executive officer Fedele Usai, “In a moment like this one, in which the priority is the national health, our mission continues to be the one to inform and entertain, and to do so in the correct way. Our [initiative] is just a small signal intended to try to give back something to the community. It’s important that everybody does their part.” The project is following the success path of Vanity Fair Italy issue dedicated to Milan, a region significantly hit by COVID- 19 outbreak.

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