Data for difficult days: the Spring / Summer 2020 collections
While we’re seeing an overall decrease in the sales of Spring / Summer 2020 collections, there’s a country where trends are completely reversed. Certilogo data from the Spring / Summer 2020 collections show unequivocally that Spring has arrived in South Korea.
The South Korean Spring
The Codid-19 pandemic has negatively affected sales of the 2020 Spring / Summer collection on a global scale. We analysed consumer authentications of Certilogo tagged products isolating authentications relating to Spring/Summer collections, both in 2019 and in 2020, and compared the performance of March 2019 vs March 2020: globally, authentications are down 26%, but here's what happened in South Korea:
Authentications did not drop, they actually grew by 57% compared to the same period last year.
Authentications stemming from online purchases reached a staggering +71%.
- We might reasonably assume that the specific traits of the South Korean fashion consumer have contributed to the greater success of the Spring / Summer 2020 collection: young, natively digital and quite fond of trendy streetwear.
- In South Korea, e-commerce was capable of expressing its full potential even in this case of absolute emergency, by virtue of the continued operation of the logistics platforms, which in western countries instead have had to slow down their activity.
Challenges (or opportunities) for fashion brands
- Adopt or maintain a multichannel approach as much as possible, further enhancing the distribution and logistics network facilitating the delivery of online purchases, even in the current difficult conditions.
- Identify the best strategies to minimize the loss in sales and reposition the Spring / Summer 2020 collection, taking into account the peculiarities of the seasonal vs continuous collections.
- Recognize that the abrupt shift towards online shopping presents consumers, especially those not used to digital channels, with the problem of distinguishing authentic products. They need to feel "protected" by the brand at a time when they cannot rely upon their trusted store (+71% increase in authentications of online purchases).