How is the Coronavirus affecting Fashion?
With the death toll in China surpassed 3,000, with a further 80,000 being affected, the coronavirus has gone from being an epidemic that affects people's health, to affecting everything coming in and out of China.
In 2018, 40% of the world’s textiles and garments were produced in China. On top of this, an estimated 150 million overseas trips were made from China. So with the country being on lockdown, what does this mean for the shopping addiction so many of us westerners suffer from?
Brands that use suppliers all around the world have a backup plan and can shift between markets
The virus spreading faster than the media can keep up, the death toll increasing and the virus now being a global concern, how will the fashion industry cope? Although China is the biggest single producer, the majority of the fashion industry is still produced outside of China. Brands that use suppliers all around the world have a backup plan and can shift between markets. It’s the brands that solely depend on China that will see the biggest hit. The commercial effects will be dependent on how long the virus will last for, for the consumer, we won’t be affected just yet. As shipments are done in advance, what you see on the shop floor now, could have been made in China, what you will see moving forward, will likely be coming from outside of China.
With Chinese consumers not being able to travel, this will also affect the brick-and-mortar shops in Europe and the US. Some shops, like the Selfridges, Browns Fashion, and other luxury retailers, thrive in the Chinese traveler. What will happen to their sales short term? Will, there be a soar in travel post-travel ban, and will this makeup for lost sales?
We still don’t know when the end is, and what the full impact is, but what we do know is that these items are not produced in China.