5 key insights for the Fashion and Luxury industry driven by consumers in response to the pandemic.
Through authentications, Certilogo can count on a reliable, global observatory of the Fashion market and upcoming consumer trends.
During the lockdown caused by the Covid 19 emergency, Certilogo's services have been provided without interruption; collected data have confirmed the decrease in sales volumes driven by the suspension of production and distribution of fashion and luxury products.
A more in-depth analysis, however, has revealed other related phenomena that help brands to capture upcoming opportunities and define the meaning of “new normal” in the fashion industry.
China was the first country to show clear signs of recovery after the lockdown. It was among the first countries to bring its production up to speed. Certilogo expects to detect an increase in overproduction, grey market and counterfeiting in the coming months, as statistics already suggest.
Coronavirus has interfered in the normal "seasonal turnover" of the retail sector, so the Spring Summer 2020 collections had to stay in the warehouses longer than expected. Globally, this phenomenon has led to an authentication decrease, except for one market: South Korea
THE MARKET OF FAKES IN THE TIME OF CORONAVIRUS: A TANGIBLE OPPORTUNITY FOR BRANDS TO BOOST SATISFACTION RATES
During lockdown, supply and demand shifted to online channels, especially to specialized e-commerce sites and marketplaces. Data collected by Certilogo have shown increased fear of buying fakes among consumers, as well as a growing need to feel protected and more connected to brands. The level of satisfaction with authentication initiatives has grown, and so has propensity to engage with brands afterwards.
Fashion marketers are dealing with new purchase habits accelerated by the pandemic. Today, even consumers traditionally reluctant to shop online are enjoying the advantages of buying their fashion and luxury products on digital channels, giving brands the opportunity to turn unboxing into a distinctive and memorable experience that drives brand engagement through connected products.
The second hand market continues to grow faster than expected. The lockdown and the current economic situation have encouraged many consumers to rethink their wardrobe, finding ways to recover or resell clothing and accessories that are no longer of interest. At the same time, the new trend of “Do It Yourself Fashion“ is clearly emerging: young people are increasingly attracted to the idea of personalizing and reassembling the clothes they wear.
Certilogo’s article explores new opportunities for brands to drive innovation drawing inspiration from consumers, who are increasingly creative and connected.
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