Day: November 26, 2020

Clicks Fast Overtaking Bricks in Fashion, Luxury Arena Says McKinsey – WWD

LONDON — The online juggernaut will gain steam in 2021, and beyond, with accelerating sales, a “war” for digital talent, and pressure on fashion and luxury brands to rethink the role of their physical stores, according to new research from McKinsey & Co.

The online channel has notched seven years of growth in nine months due to a spike in luxury consumers shopping from home, and in their home markets, according to Anita Balchandani, a McKinsey partner who heads the consultancy’s apparel, fashion and luxury business in the U.K. and EMEA.

Balchandani presented the findings of the report, “Taking stock of the apparel, fashion and luxury sector,” during a virtual roundtable discussion on Wednesday, and covered a variety of consumer trends in fashion and luxury worldwide.

In addition to the growing power of online, Balchandani pointed to a strong rebound in China next year, compared with the U.K., Europe and the U.S., and surveyed the damage that the COVID-19 pandemic has wrought during what has been a “remarkable year” for the industry.

Recovery, she said, will be driven by an accelerated demand for online fashion.

She noted that online fashion sales channels exploded in popularity this year, stealing market share

33 Essentials Everyone Should Own in 2021 Are Cheaper RN

We made it, folks. It’s Black Friday week (as I like to call it), and basically, the entire internet is starting to go on sale. That includes Shopbop. If you’re a Shopbop customer, you probably know that it doesn’t do many sitewide sales, but Black Friday is a special occasion, to say the least. Starting today, Shopbop is offering 20% off of orders over $200, and I for one, am using it as an opportunity to stock up on stylish wardrobe essentials that I’ll wear next year and beyond.

Since we don’t know exactly what 2021 will look like compared to this year, it might be best to play it a little safe. To me, that means pseudo-casual pieces like cozy sweaters, jeans, blazers, and walkable shoes—all of which there is plenty of on Shopbop. Honestly, if someone told me I could only shop at one place of my choosing from now on, Shopbop would be a very strong contender. If just has every wardrobe essential you need in one place. So with that, let’s shop for basics.

Keep scrolling for my Shopbop picks to stock up on while they’re 20% off.

Source link