High
Impact
Execution

The Corona crisis has severely impacted the fashion retail / consumer goods industry.

Stores and retail outlets had to shut down across continents; in-store sales vanished and were only marginally compensated by online sales, if at all. The fashion retail industry lost most of the spring / summer 2020 business, broadly speaking due to the crisis.

Slowly the tight government-imposed measures are starting to be loosened.

However, with low sales in March and April liquidity is tight. Staff is on short-time work, inventory levels are extremely high, suppliers are still in shut-down or are struggling from the economic impact. In addition, consumer spending on discretionary goods is low and with business having shifted from stationary to online sales channels, the future outlook is not bright.

Restarting and ramping up your fashion retail / consumer goods business successfully will be a major challenge.

To what level will consumer spending for apparel and consumer goods bounce back? Starting when and at what speed? How do you plan the gradual opening of your stores respecting government policies and customer receptiveness? How do you stay in touch with your customers in times of the coronavirus? How much of your stationary business will lastingly shift online and how well is your organization prepared for it? Which of your suppliers will survive the crisis and be available or will have restarted for continued business? Which brands, categories or products complementing your portfolio might be up for acquisition? You will be facing numerous questions to be answered and challenges to be solved. Critical decisions have to be taken to successfully manage the restart and ramp up of your business.