How will covid-19 impact the fashion and beauty industry?
With the covid-19 virus having crippled the nation, many of us have questions on what will happen to our livelihood, our jobs and the respected industries we occupy. As many things are still uncertain, some questions on how covid-19 will impact our economy and society will have to be answered in time. While the answers to how quickly (if at all) some industries will recover, some sadly may not. One particular question has stood out to me for the past month–how will covid-19 impact the fashion and beauty industry? Runway shows, galleries, showrooms, boutiques, salons, and many more facets of the fashion industry have come to a halt due to the covid-19 pandemic. While the outlook of this global situation is unclear, covid-19 is forcing society at large to make necessary changes regardless of political status, religion, or economic background. Here are just a few big ways that covid-19 pandemic is impacting the fashion and beauty industries.
1. The Fashion Retail Industry
Covid-19 has subsequently closed malls and boutiques across the nation. While some businesses still operate online, boutique and mall retail workers are currently out of work. With the online retail-sales industry having already changed the way consumers shop, covid-19 may very likely cause more permanent store closings as time progresses.
2. Beauty Salons & Nail Shops
Hair salons and nail shops were among the first places to close when social distancing standards were established, putting many business owners and entrepreneurs out of work until further notice. If you’re like me, you’re feeling the pressure of not being able to visit your barber or local nail salon for a weekly pamper session. I feel your pain.
3. Runway Shows and Fashion Showrooms
Like hair and beauty salons, runway shows are going to have to be put on hold due to covid-19. This puts make-up artists, stylists, and models in a difficult situation until things turn around. With New York being the epicenter of the covid-19 pandemic, its unclear when we’ll see another Fashion Week in New York. While fashion experts are scrambling to find answers, one clear solution may be by having online/virtual fashion shows.
4. Luxury Fashion Businesses
Luxury fashion stores like Burberry and Gucci among many others depend strongly on their physical store locations to generate revenue. Government bail-outs will not likely fully cover the expense of keeping these businesses afloat, which may mean disaster for many of the industry’s most respected fashion houses.