The fashion industry is one of the most complex and influential industries in the world today. Composed of many different factors and levels, consumers and buyers are the main source that keep the fashion industry up and running.
The online shopping industry is one that has seen a major increase over the past few years, and is becoming more popular than shopping in retail stores. In 2018, an estimated 1.8 billion people worldwide purchased goods online, and in the same year global e-retail sales amounted to £2.8 trillion. Projections show that sales are going to continue to increase to a staggering £4.8 trillion by 2021. So why are people choosing to online shop instead of supporting their local stores and
businesses?
Avid online shopper and student, Taylor Borthwick said: “I personally online shop a lot due to how easy and simple it is. If I am needing an outfit for a night out I can quickly find what I’m looking for and I can even compare prices to get the cheapest option for me without even having to leave my house.”
Simplicity is the main reason for consumers turning to online shopping, they are able to simply type in what they are looking for and get their perfect match. This way they are avoiding crowded stores, finding different sizes and even long queues. Stores are now having to do all they can to drive traffic to their stores and get shoppers through their doors in order to make profits.
This year especially, the biggest shift in online shopping is from the impact of the Coronavirus pandemic. With lock down measures putting many places into isolation, online shopping has skyrocketed. In March 2020 a study showed that 42% of the US population made an online purchase at least once a week. Online retailer ‘ASOS’ reported a 329% increase in profits due to the pandemic.
Taylor said: “During isolation I did, admittedly, spend so much time online shopping, just simply out of boredom. I bought outfits I didn’t even need nor did I plan on wearing as I have nowhere to even wear them to!”
Online presence is very important to brands, especially in 2020. Promoting goods online means profits for the business and this is the easiest way for them to make money. The store ‘Peacocks’ is one of many that has been impacted due to the increase in online shopping. Due to this they have had to close down their stores and move to online only, disappointing many customers across the UK.
Small businesses, such as boutiques, are the ones being mainly impacted by this increase in online shopping. They have no online presence therefore the only choice for them is to sell and promote what they can to shoppers entering their store.
Taylor said: “Although I mainly online shop, I do occasionally visit my local small boutiques as they have unique pieces that I never see online, and I also like to support my local’s, especially at a time like this when you hear about so many stores having to close and go into administration. Sometimes I do get a wave of guilt and feel like it’s only fair to do my bit.”
