Schools resume this month, and increasingly more of us will come back to working in an office, at any rate for part of the week. The administration’s expectation is that this will invigorate the economy, regardless of increasing rates of unemployment.
Fashion has been the hardest hit of all retail divisions during the Covid-19 pandemic. A huge number of individuals working in fashion are confronting redundancy – and this may just be a glimpse of something larger. With sales already at a low even before the pandemic, no government aids and rising retail prices only confirms a bleaker future for fashion retail unless something is done in the nick of time.
This month, Drapers is propelling a campaign to Reset Fashion Retail. The mission centers around three key territories: business rates; leases and rents; and local regeneration. Activity in these three zones would help and provide some relief to battling retailers, curbing rampant store closures and bring the shopping experience back into the spotlight.
Companies like Marks and Spencers and the Selfridges group have come out and spoken about some difficult decisions and new strategies for their approach to business in the Covid era, with ambitious plans for sales and sustainability.
The message is clear: the pandemic has crushed numerous parts of the industry, however it has additionally provided avenues to do things with novelty. The Reset Fashion Retail campaign tries to apply a similar thinking to the more industry at large, to the advantage of high streets and local businesses across the UK.
SOURCE: Drapers
