How Covid-19 Impact Fashion Industry, Is That A Good Thing or Bad Thing

How Covid-19 Impact Fashion Industry, Is That A Good Thing or Bad Thing
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The COVID 19 pandemic has highly affected different sectors of the economy. Such impacts have resulted in the loss of jobs and businesses. One of the most affected is the fashion industry. A substantial number of people have been laid off from their jobs, and most of the independent contractors in the industry are facing an uncertain future. The coronavirus continues to spread in different parts of the world, and therefore, it is expected that it will continue to impact the fashion industry. Such an impact is not a good thing because it has affected a lot of people. Therefore, this paper will focus on the negative impact on the fashion industry, such as cheap labor, environmental impacts, and closure of businesses. It will also address the strategies that can be used to counter such impact.
One of the main impacts of COVID 19 on the fashion industry is the loss of business and jobs, and this is a bad thing. A substantial number of people highly depend on the fashion industry to make a living. For instance, some of the largest manufacturing companies in the industry have employed many people. COVID 19 has changed the spending patterns of most people. As a result, most fashion companies have been forced to close their businesses. This means that the employees who were working in such industries have been laid off. The business owners have also lost a substantial amount of their investments, especially those that have closed their business indefinitely. People have families to feed, and therefore, the loss of jobs and businesses has affected their families too. As the virus continues to spread in different parts of the world, the future of the fashion industry remains uncertain. This means that business owners in the industry should look for alternative sources of making money. The former employees will also be required to look for jobs in other sectors. This is a challenging task during the pandemic period because most businesses have been closed. As well, most companies are not employing new workers because they are already struggling with a reduction in profits. Their aim is to cut production costs as much as possible. Hiring new employees would not facilitate the reduction of such costs. Once people have a limited income, the most important things they should have are food and shelter. This makes clothing not a priority to most people, and it is an indication of how much losses the fashion industry will suffer. Therefore, the impact of COVID 19 on the fashion industry is a bad thing because it has affected the ability of people to live a comfortable life.[Carta Mantiglia Pasini, Laura. "The Circular Economy in the Fashion Industry and the effects of the Covid-19 pandemic. Focus on the Italian market: the Dyloan case study." Bachelor's thesis, Università Ca'Foscari Venezia, 2020.]
Another bad impact of the COVID 19 pandemic is the availability of cheap labor. Employees are used to a certain level of living standards. If their wages are reduced, it means they will not be able to meet their needs as they used to. Most companies in the fashion industry have been forced to lay off their employees or cut their salaries because ...