COVID-19 has kick-started a major transformation in the fashion industry.
This week, the Census Bureau released consumer spending data for the month of March. Anyone could have guessed that lockdown orders around the country would lead to a drop in retail sales, but the extent of the decline was staggering. Sales plummeted by 8.7%, the largest-ever decrease on record, nearly triple the previous worst month on record in 2008. And clothing and accessory brands took the biggest hit, dropping by an astronomical 50.5%.
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