- Trendstop |
Less but better
On Tuesday 19th May at 10.00am EST / 3.00pm BST / 4.00pm CET Trendstop is hosting the fourth in our series of online sessions about the post-coronavirus landscape covering topics from future consumer expectations and market changes, to methods of remote comp shopping and staying on top of trends in lockdown.
As we write this article, we’ve learned that Neiman Marcus has become the latest in a string of retailers to buckle in the midst of the coronavirus pandemic. On these shores, Oasis, Warehouse, Debenhams and Laura Ashley have all fallen into administration.
In an industry now all but grounded to a halt, brands without considerable financial fortification, a devoted customer base, or a forward-thinking and relevant product offering, have found their shortcomings writ large.
And the seismic shift in consumer spending caused by the pandemic, is matched only by the shift in consumer mentality.
Distanced from impulse purchases, not drawn in off the high-street by seasonal sales, we are a public who has, by and large, experienced a consumption reset – we’re looking only at what we need in our day to day lives, and the list is short one.
If lockdown has given us anything, it is a renewed perspective on what’s truly important and valuable in life, which will be reflected in our spending habits. Quite simply the post-pandemic consumer will want less, but better, which manifests as more considered products, that respond to a real demand, manufactured in a way that doesn’t happen the environment or communities.
And that swing of the pendulum does not favour the retailer who peddles mediocre product in excessive volumes, manufactured in an unsustainable manner.
In our online session, we will be looking in depth at the consumer demand for ‘less but better,’ and the uncertain future of retailers who carry with as business as usual.
We’d like to invite Fashion United readers to join us here: www.trendstop.com/trends/the-post-coronavirus-consumer-landscape