Fashion News - Monthly Digest December 2020
The State of Fashion 2021: In search of promise in perilous times
While the crisis has visited a devastating impact on businesses and jobs, it may also have accelerated responses that can lead to positive outcomes. Indeed, many fashion companies have taken time during the crisis to reshape their business models, streamline their operations, and sharpen their customer propositions.
After a year in which the fashion industry posted record-low economic profits, business leaders are on the front foot, seeking to innovate while continuing to engage their core constituencies. Given the disruptions of recent months, many companies are reconnecting with their supply chains, making tough decisions—for example, about ROI at store level—and ramping up omnichannel services.
The key characteristic of well-performing fashion companies is digital strength.
Given the standout performance of digital channels in the current environment, we expect digital to remain king in 2021. Indeed, some 22 percent of executives say it will be the key momentum driver in the coming year—a percentage point less than the proportion that cites “uncertainty” and slightly more than the 20 percent that picks “challenging.”
Read the full article.
How TikTok Changed Fashion This Year
While we were all stuck at home this year, TikTok became the outlet for self-expression—a place where we could partake in dance challenges, practice our transitions, and share our personal style. Though TikTok is marked by its creative, loose content, influencers on TikTok have seen how having a following can translate into a career boost. Take Wisdom Kaye, TikTok’s best-dressed guy. He has over 4 million fans, and in the past year he’s been signed to IMG Models, and now works with brands such as Balmain and Dior.
Below five key ways that TikTok changed the fashion game this year:
1. TikTok is taking over fashion week.
2. Models are now being scouted on TikTok.
3. Designers are sharing their creative process on TikTok.
4. Fashion brands are being born on TikTok-especially sustainable ones.
5. TikTok creators are now setting global fashion trends.
E-Commerce Working Beautifully for the Cosmetics Industry
Cosmetics companies traditionally have relied on in-person retail sales to attract new customers and maintain existing clientele. The pandemic, however, has upended the cosmetics industry, bringing new challenges as well as a host of opportunities for companies that are agile and creative enough to take advantage.
One way that cosmetics companies can appeal to online customers is to provide increasingly personalized services. They can gather data about new customers and maintain information about existing ones to provide a unique online shopping experience tailored to each customer's needs.
The cosmetics industry is also being transformed by new trends in pricing and packaging. Smart pricing strategies, for instance, are helping companies to maintain an edge in a competitive e-commerce marketplace.
The new world of cosmetics e-commerce is just that -- a global endeavor, no longer limited to customers within a specific country. While domestic e-commerce sales have increased, they're not necessarily enough to replace the current loss of brick-and-mortar, so retailers must increasingly take advantage of the enormous untapped potential of selling to international customers to expand their revenue.
Annual review: 2020 fashion in five major themes
Fashion is ever-changing in color and style - but at the end of the year, there are always a few patterns that can be found. What were they in 2020? FashionUnited summarizes the fashion of an eventful year in five central themes.
1. Digitization: from online shopping to virtual fashion weeks
2. Love for loungewear
3. Building resistance: activewear
4. Durable and original: second-hand clothes
5. Simply everywhere: mouth masks