Lockdown news and archive

China gears up for revenge shopping, again

China was one of the first countries in 2020 to successfully emerge from the pandemic, after stringent lockdowns enforced by the government curbed the spread of Covid-19. In May that year, the term ‘revenge shopping’ was coined, where a sharp growth in purchases after a period of crises sees consumers returning to stores. Queues outside luxury...

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Primark revenue and profits hit by store closures

Primark has reported a drop in half-year sales and profit as Covid-19-related store closures continue to impact the retailer. The fast-fashion giant’s revenue fell 40 percent to 2.23 billion pounds for the six months to February 27, with the majority of its stores closed for more than half of the period. Unlike many of its rivals, Primark doesn’...

Retail

Non-essential retailers in Northern Ireland to reopen on April 30

Northern Ireland has announced that non-essential retailers will be allowed to reopen from April 30 as part of the country’s easing of lockdown restrictions. Retailers in the country have been closed since the end of trading on Christmas Eve as part of what was then planned to be a six-week lockdown, but was extended multiple times. Northern...

Retail

How Gen Z consumers shop

The Coronavirus has changed the way consumers shop. Given the various lockdowns throughout the last year, the fashion retail landscape has shifted to consumers purchasing more products online. Generation Z, those born between 1995-2010, have a significant buying impact and, according to new reports, have a spending power of 140 billion dollars...

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How the pandemic affects countries reliant on manufacturing and production

One year of Corona - one year of lost sales and continuous uncertainties for the fashion industry and global trade. How does this affect the countries where garments are manufactured and produced? Shortly after the Corona outbreak in March of last year, it quickly became apparent that the pandemic would have long-lasting effects across the...

Retail

New West End Company calls for urgent government support

As retail reopens in England and Wales, the New West End Company, which represents London’s West End shops and hospitality venues, is calling on the government to offer urgent target support to help businesses recover from what it calls the “devastating impact of successive lockdowns”. New West End Company, which represents 600 businesses across...

Retail

Shoppers flock to stores as retailers in England and Wales reopen

Shoppers in the UK flocked to stores on Monday as non-essential retailers in England and Wales reopened after months of lockdown. Up until 10am, footfall across all UK destinations increased 218.2 percent week-on-week. Breaking that down by locations, footfall in shopping centres saw the biggest improvement, up 339.7 percent, while high streets...

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Can gift cards help attract shoppers back to the high street post-Covid?

As the UK high street prepares to reopen, new research suggests that gift cards could be the key to encouraging anxious shoppers back to stores and boost sales. The ‘State of the Nation 2021’ research, carried out by the Gift Card and Voucher Association (GCVA), found that almost two-thirds (65 percent) of shoppers have been introduced to a new...

Retail

Pent up demand for brick & mortar retail reopening 12 April

As the UK prepares to ease retail restrictions, pent up demand from shoppers for brick and mortar stores was more than evident in March when shoppers to the high street and other retail destinations. Footfall appeared to recover strongly in March according to Springboard, which cited an annual decline of -28.1 percent, up from from -61 percent...

Retail

8 in 10 Brits plan to visit local stores the week they reopen

As retailers prepare to reopen next week following months of lockdown, 84 percent of adults in Britain say they’re planning to visit local high streets or shopping centres in the following weeks, new data reveals. A key driver of that footfall will be consumers’ desire to have more of an experience when shopping after a year of mostly buying...

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Unsold fashion: What happens to merchandise when stores are closed?

Since the pandemic outbreak, the fashion industry has been fearful of vast amounts of unsold merchandise from brick-and-mortar stores. Last spring, many designers and brands postponed a part of their collections to 2021. However, now, even in 2021, the world is seeing months-long lockdowns. With an unusual winter and collections being pushed...

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H&M swings to Q1 loss, net sales down 21 percent

Swedish fashion giant H&M swung to a loss in the first quarter of the year as it continued to feel the impact of the pandemic. The company reported a loss after tax of 1.07 billion Swedish kronor in the three months to February 28, compared to a profit of 1.93 billion kronor a year earlier. It came as H&M’s net sales dropped 21 percent in local...