April 17, 2020
Photo by istock.com
Italian fashion retailers may be over the worst in regard to the COVID-19 pandemic that essentially shut down pretty much all retail business in the country for the past three months.
The industry is experiencing a slow but steady recovery, according to data from ccinsight.org and Emarsys that reported a 40% drop in e-commerce fashion orders across Italian brands in the past two months.
Since the very end of March, however, data reveals a steady climb upward of 18%, with a good amount of spend going toward handbags and trainers, according to a press release.
“Italy is a world leader in fashion, and as such it’s no surprise that the industry has been hit hard by the recent lockdown — even online,” said Alex Timlin, senior vice president of verticals at Emarsys, in the release. “Now, as consumer confidence grows, we are starting to see a steady recovery in the Italian fashion market. Brands that would have sold in-store are also switching online, with e-commerce orders back on the rise. If this trend continues it could be good news for the Italian economy, but there’s still a very long way to go before the market gets back on its feet.”
Covid-19 Commerce Insight (ccinsight) tracks how the COVID-19 pandemic is affecting consumer expenditure online in different industries at both a global and regional level. Initiated by Emarsys and incorporatingvisualizationsfrom GoodData, the platform draws on over a billion engagements and 400 million transactions across 120 countries.
Please check here for more news and insight on how COVID-19 is impacting the retail industry.
Topics: Coronavirus / COVID-19, Consumer Behavior