Hong Kong retail sales fell 24% in the last period, Paris dropped its retail sales 30% to 50% whereas Chile dropped them by 27%. The three regions are immersed in political crises that are directly affecting their results.
The export of ready-made garments from the Asian country fell 7.7%, 13 billion dollars in the five months to November, according to the Export Promotion Bureau.
In the twenty-eight countries of the European Union, on the other hand, fashion sales dropped, 0.5% year-on-year.
The threat of a new recession, volatility of raw materials or instability around the world. Fashion faces a convulsive year.
Online sales are ascending but so are returns. Return shipping costs are now a customary necessity for retailers and brands to do business. It’s expected 2 million returns for one carrier alone on January 2.
Economic slowdown and trade war affected the consumption of cotton during the 2018-2019 season, when dropped by 1%. Raw material prices also stumbled during the season, which started the year at 99.5 cents per pound and ended 2019 at 84 cents.
During 2019, tensions increased between the European Union and the Asian country over the elimination of tariffs, after Brussels determined that Cambodia carried out practices against human rights.
The number of online retailers in the United Kingdom in financial distress has risen over 65% since 2017, to 9,024, according to insolvency firm Begbies Traynor.
La Comisión Económica para América Latina y el Caribe (Cepal), estimates that the region will grow only by 0.1% on average this year.
Fashion sales in the United Kingdom have dropped by 3.7% in the week to December 15, according to the BDO High Street Sales tracker.
The break caused by the financial crisis knocked out companies that had been unstable after two decades of productive and manufacturing relocation.
The Garment District Alliance has revealed its new plan that involves selecting ten potential programs to provide services to designers and boost the impact of local industry.
Developed markets will record a 1.6% advance in 2019, compared to the 2.3% growth recorded in 2018.
Cotton, one of the main raw materials of the fashion industry, reached record highs in 2011 and again hit lows just three years later.
A report by the consultant Bain&Company estimates that two-thirds of retailers in the United States will pass tariff-related costs on to holiday shoppers.
News on the latest macroeconomic indicators related to the textile- and fashion industry worldwide.
