Many sectors in Africa are beginning to reel from the huge fallout of the Corona Virus pandemic as they stare into the bottomless pit of an impending recession. The African fashion industry has not been exempted from this fallout, as there has been a decline in sales of clothing and other fashion-related items.
Until the start of the pandemic, the estimate of sales in the fashion industry for 2020 looked promising. While many retail shops are concerned about the sales figures, it is obvious that the wider sectors show more concern on how they intend to adjust their business goals and strategies to achieve maximum profit. In spite of this impending economic recession, the African fashion industry is also experiencing a long-lasting structural change.
In time past, the African fashion industry has been a success story. From the evolution of new and existing fashion brands to the recognition of some African fashion designers on international levels, we can conclude that there has no doubt been rapid progress.
According to Stephanie Phair, the Chief Customer Officer of Farfetch which happens to be an online luxury fashion retails platform,
“We were already seeing a move to online. Online was by far the highest growth segment of the industry. And because people have been forced to an online world, that will accelerate.”
With the closure of shops around Africa, people are moving online. Fashion shows are now happening online. Interviews and meetings are also happening online.
The question would be, “Is the idea of digital innovation and online domination going to speed up the growth and development of the African Fashion Industry?”