Analytics firm GlobalData is urging retailers to save their SS20 stock rather than cancelling orders or destroying products
The coronavirus crisis could prove to be a powerful catalyst for fashion’s road to sustainability, says analytics company GlobalData.
Instead of cancelling SS20 orders or destroying stock, the firm says retailers should stockpile products until next year. This will prevent suppliers and producers from going bust while also helping retailers retain their margins.
Hannah Abdulla, apparel correspondent at GlobalData, says the crisis is forcing the industry to take action on sustainability: “For too long there has been talk in the fashion industry of being more sustainable. Destroying stock is an environmental disaster. Really, brands should start thinking about how they can sell this year’s stock next year and send a message to consumers that they are truly making good on sustainability promises.
“This action would earn the trust of their supplier factories and ensure good business relationships are maintained. That should also make it easier to get back to normal once the pandemic dies down.”
Experts have voiced concerns about retailers discounting SS20 stock and the impact coronavirus may pose on the supply chain. Predictions include UK-based retailers sourcing more ranges from Britain after the pandemic and reducing product choice.