SEAMLESS SOLUTIONS FOR ALL SEASONS:NIPPON EXPRESS’ HIGH FASHION LOGISTICS Vol.1
- ― Tumultuous times in the pursuit of timeless
Supply-chain disruptions, lockdowns, and collapsing international travel, which generate a surprising share of brand purchases, have savaged the global luxury market. Sales for 2020 are expected to shrink by some 22 per cent to EUR217bn, a return to 2014 levels, according to consultancy Bain and Altagamma.
- High-end brands have been rushing to expand their ecommerce channels to sell directly and offer white-glove services online. With digital sales soaring this year, online is on track to account for some 30 per cent of global luxury item sales by 2025.
- Geographic change continues apace too. The centre of gravity for luxury demand is further shifting to Asia – which purchased about 40% of all bling in 2019 and provided the earliest signs of recovery last year. Memorable images of Asian shoppers in boutiques “revenge-spending” after lockdown underlined how resilient demand is in the region.
- Equally significant, the coronavirus crisis is further disrupting an already fragmented fashion calendar. Venerable fashion houses have broken away from the traditional bi-annual schedule, embracing “seasonless” collections and offering shows, including on virtual catwalks, throughout the year.