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Coronavirus Restrictions Drive The Fashion E

As many as 33 million shoppers bought secondhand apparel for the first time in 2020, of which 76 per cent consumers plan to increase their spend within the subsequent 5 years. According to the report, resale is projected to develop 5.four per cent in 5 years. According to Deloitte survey knowledge, digital acceleration stays Fashion News a priority for 88% of retail executives going into 2021, making it chief among all subjects. That follows a yr when, according to Deloitte InSightIQ analysis of Affinity Solutions spending data, online’s share of retail spending hit 40% in the spring and vacation season.

  • The pandemic, and recovery from it, will likely outline the year as consumers look to refresh their wardrobes and retailers hold on to new practices that worked, analysts say.
  • You might want to examine on some merchandise whereas at work, or while having lunch at the restaurant or cafes, and