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“The idea behind this consumer study was to understand how to tackle this unforeseen pandemic and get a pulse of what our audience is feeling. Liva has always been an enabler and leader in assisting the industry to understand where the future of fashion is headed and what the consumers need. Keeping this thought in mind, the study was our way to gauge the consumer sentiments during the pandemic, something that brands and companies have never experienced before. Businesses are going to have to re-strategize and alter their services and messaging basis the new ‘normal’. It’s great to see that the future of fashion is going to be more responsible,” said Srishti Sawhney, President and Global Brand Head, Grasim Industries, Pulp & Fibre Business.

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“We are not planning to open any new stores in the next 3 to 6 months,” said Kataria adding that “capex and investment appetite remains strong for India, we need to see how demand unfolds. Incomplete projects will be completed, however, not looking at expansion right now.”

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For the fashion industry, the effects of the coronavirus pandemic were crippling as it hit on both the supply and demand side. ‘We estimate that revenues for the global fashion industry (apparel and footwear sectors) will contract by 27 to 30 percent in 2020 year-on-year, although the industry could regain positive growth of 2 to 4 percent in 2021.4 For the personal luxury goods industry (luxury fashion, luxury accessories, luxury watches, fine jewellery and high-end beauty), we estimate a global revenue contraction of 35 to 39 percent in 2020 year-on-year, but positive growth of 1 to 4 percent in 2021,’ the report outlines.

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Amid stringent safety norms, Tushar Ved, President, Major Brands, feels that with retail stores opening post the lifting of the lockdown, in-store technologies – which have until now have been used in various ways aggregate customer experience – can be a huge enabler in managing social measures. In pandemic times, these technologies can help increase convenience for shoppers, while mitigating the risk of physical contact.

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This is also an excellent time for brands to grow their digital follower base through contests, engaging content, or via targeted ads — because the entire world is spending far more time on social media than they did a few months back.2. INCREASE SOCIAL MEDIA ACTIVITY33 ANTE UP YOUR BRANDING GAMEBrands can easily utilise this time to fix their strategies. It’s always wise to prepare an action plan and start with the basics – like the website. Our busy schedules seldom leave us with extra time and many of us tend to overlook the fundamentals – like SEO, user interference/user experience, etc. This is an excellent time to improve the brand website’s user journey and ensure that the website conveys the right brand message.3. ANTE UP YOUR BRANDING GAME44 RELY ON TECHNOLOGY TO IMPROVEGlobal marketing research firms have ubiquitously called the ongoing COVID-19 pandemic ‘an unexpected catalyst for tech adoption’ in the retail industry. While the retail industry’s increasing reliance on technology over the past few years goes unsaid, experts claim that the challenges posed by the pandemic will invariably accelerate the rate of adoption of new technology and tools.

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