Italy's fashion industry suffered a setback in the first quarter, with sales down 42%

According to a study conducted by consulting firm Confimprese, the Italian fashion and clothing industry lost 25.4 billion euros in revenue in 2020. And, affected by the lockdown measures taken by the epidemic , sales of fashion products in Italy in the first quarter fell 42% from last year and 68.3 % from 2019 .

The research survey found that compared with the same period last year , Italian residents' consumption level in the first quarter of 2020 also fell by 38.3%, and fell by 54.6% compared with 2019 .

In addition , the study also provides performance analysis and statistics for retailers covering fashion, catering, cosmetics and furniture . It is understood that the fashion and clothing industry is one of the most affected industries, with sales falling 42% as of March 31 compared to the same period last year. Compared with pre- epidemic levels, fashion and clothing sales in March alone were down 68.3% from 2019, but up 83.1% from 2020.

The COVID -19 pandemic has lasted for more than a year, resulting in the closure of many stores . According to incomplete statistics, more than 7,000 retail stores in Italy may face permanent closure. At present, the Italian retail industry has not yet fully recovered .

Last month, most of Italy was still under strict restrictions, with non-essential stores required to close . The Italian government said retailers across the country were now opening and business was gradually returning to normal .

Paolo Lobetti Bodoni , head of business consultancy , explained : "With the gradual easing of restrictions, consumption is expected to recover rapidly from May .

In terms of distribution channels , Ernst & Young assessed the impact of lockdowns and travel bans in the first quarter , and the results showed that due to the travel ban , overall retail sales at airports and train stations fell by 55.5% during the period compared to the same period in 2020. Sales in shopping malls and specialty stores fell by 48.5% and 45.2% respectively in the first quarter.

“It is clear that due to the drop in revenues, it will be difficult for retail companies to survive unless governments or institutions adopt emergency measures to revive the affected sectors and channels,” urged Mario Maiocchi, managing director of Confimprese .

Italy

Fashion and Clothing

E-commerce market