Even before the events of the global pandemic crisis, fashion executives were not looking forward to 2020. It was predicted already that 2020 would be a challenging year for many brands, particularly in the luxury sector, however no one could have predicted the roadblocks that have occurred. Trends in 2019 had shown that 2020 was likely to suffer slow industry growth, but brands also knew there would be significant pressure to expand their digital footprints, invest more in omnichannel and leverage new technology.
The fashion industry is changing at every level. These seismic shifts in most areas of the industry have needed to happen for a while but were accelerated considerably by events that took place in 2020.
Global fashion brands are engaging with politics more than ever before. The high stakes felt on either side of the US presidential election, prompted fashion brands to end their long held silence, taking action and responding to consumers calls for solidarity, on issues about which they are now expected to get involved.
Year 2020 was quite a year! It had many highs and lows, and was a year to remember for many, for all the wrong reasons. Despite it all, beauty was often a constant comfort to people, even when locked up at home. 2020 offered a time for many to revise their skincare regimes, make homemade beauty and hair care products, and revamp their list of go-to product favorites.