In 2020, designer apparel and footwear (ready-to-wear) is set to be negatively impacted by the outbreak of COVID-19, as sales record a strong decline across all product groups. This will lead to a value decline of 26%, compared to value growth of 2% in 2019.
The lockdown, implemented in March-May 2020, required those consumers who could, to work from home. Working from home in Italy also continued after the lockdown period, creating home office spaces across the country in a bid to keep the spread of the virus low.
Due to the outbreak of COVID-19 in Italy, unemployment is expected to have a strong impact on seasonal workers first, before being extend to full-time workers. Many affluent consumers are expected to lose their higher level of spending power in 2020, while others will stay cautious about their spending as they fear the impact of the economic recession.
Designer apparel and footwear (ready-to-wear) is set to recover across the forecast period, and this will be heavily linked with the roll-out of a COVID-19 vaccine in the country. As consumers feel more confident to socialise once more, they will return to events and occasions, and therefore, they will purchase new designer apparel and footwear (ready-to-wear).
Over the forecast period, e-commerce platforms that offer a wider range of goods are expected to fare well, as consumers look for one-stop online shops for their apparel and footwear purchases. However, luxury brands will continue to use physical stores to strengthen the relationship with consumers, arranging for events to be held instore, that includes art exhibitions.
Across the forecast period, it is expected that major luxury players will position themselves as being even more exclusive. Tougher production conditions and the need for maintaining high-end store locations will make products even more exclusive, and this exclusivity will come at a price.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Designer Apparel and Footwear (Ready-to-Wear) industry in Italy with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Designer Apparel and Footwear (Ready-to-Wear) industry in Italy, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Designer Apparel and Footwear (Ready-to-Wear) research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page