Well, it’s safe to say it’s been quite a year. We’ve emerged from a nationwide adoption of lounging in basic sweats and pyjamas as a result of the pandemic, to an outburst of self-expression. But comfort has become a continued fixture in our wardrobes, with more investment in self-care.
We’ve seen a rise in fashion technology, ethical consumerism, the fashion community reaffirming their commitment for change at the recent COP26 summit, Kim Kardashian breaking the internet for a second time at the Met Gala and the passing of Off-White founder and Louis Vuitton’s creative director, Virgil Abloh.
For the past 18 months, catwalks and runways have drifted away from the traditional concept of fashion due to the pandemic, with fashion houses adopting a digital approach, hosting live audience- free shows. But in recent months, with the loosening of Covid-19 restrictions, more in-person events have taken place.
However, with the news of the Omicron variant, that may not last long. More countries have slapped travel restrictions, with the UK government rolling out the Covid-19 booster to more groups in England by 13 December, quicker than originally anticipated. So, it’s hard to say what’s to come in the new year.
One thing that is for certain is that navigating Covid-19’s uneven recovery will cause economic shocks across fashion consumers and sourcing landscapes, leading international industry players to reassess local conditions as well as market-specific risks and opportunities, according to Business of Fashion.
In Business of Fashion and McKinsey & Company’s report it states: Economic growth and consumer sentiment will improve in some markets, with many shoppers looking to refresh their pandemic-era wardrobes, growth will be at the top of the agenda for many brands.”
Fashion leaders will need to reflect on the many lessons they have learned during the pandemic, keeping their companies ahead of an ever-shifting playing field, enhancing strategies and balancing the needs of various stakeholders to create value for their customers, their stakeholders and society at large.
From all of us at RMG Models, we wish you and your families a very Merry Christmas and a Happy New Year.