Page 16 - November-December-2020

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Digital transformation saved

the fashion industry during

the pandemic

COVID-19 pandemic has affected

the global cotton trends

Cotton is one of the most significant the previous season. However, world cotton
poverty-alleviating crops in the world. Approximately consumption is estimated to have fallen sharply by
150 million people around the globe rely on it for 12,7% in 2019/20. "This unprecedented decrease
some, if not all, of their income. According to Kai was driven by the rapidly developing impact of
Hughes, executive director at the International Cotton Covid-19 and the lockdown measures implemented
Advisory Committee (ICAC), cotton provides a lifeline by countries around the world to try to stop the
in developing countries as it can grow where other spread of the virus," explained Hughes.
plants often cannot and it can be stored without the
risk of deterioration. During a webinar he elaborated China and India dominate cotton consumption,
on the effect Covid-19 has on global cotton trends. consuming little over half of the world’s cotton.
Consumption of the commodity is expected to
Covid-19 has reminded us all how fragile our recover by 7,2% in 2021 to approximately 24,3 million
environment is. This is an important factor to tonnes, but only if projected global economic growth
COVID-19 has introduced an altogether new plan for 2019, both gross merchandise value (GMV) and consider because unlike its synthetic competitors, materialises and economic activity increases. "This is
wholesale businesses by forcing brands and retailers average order value (AOV) going through the JOOR cotton does not pollute water and air with trillions of only likely to take effect when a vaccine against
to quicken their digital strategies and this can be stage expanded 52% and 57% separately. microplastics every year. Covid-19 can be distributed and applied on a global
seen through the information JOOR has provided. scale," he said.
JOOR, the world's driving digital wholesale stage for Back in 2019, the trend of Virtual fashion shows was Covid-19’s effect on global cotton production and
fashion, delivered its development figures for the not that much but these types of fashion shows demand: While Covid-19 and its effects cause devastation, it is
second 50% of 2020. gained attention in 2020. Especially in the summer In 2019/20 global production increased by nearly 2% not the first financial crisis the cotton industry has
and fall fashion season, JOOR facilitated 16 to 26,2 million tonnes, which made it the experienced within the past two decades. In previous
After markets and businesses were forced to closed worldwide events on its JOOR Passport platform, second-largest production year in the last five years. years whenever the industry encountered financial
down during Covid-19 lockdowns, the business pulling in excess of 135,000 guests from 128 nations. India was the largest producer in 2019/20 with 6,2 difficulty, cotton consumption recovered.
owners had no other choice but to make use of the From a brand’s viewpoint, 1628 brands participated million tonnes, followed by China, the United States
virtual channels that were available to stay afloat for in a JOOR Passport event where they averaged 15 (US), Brazil and Pakistan. Those top five producing This time, however, we predict that the recovery will
their business. Taking a gander at the second half of new connections per event and sold more than countries accounted for nearly 80% of the total world take many months to normalise and it will be highly
the 2020 and comparing it with the second half of 470,000 items. production. dependent on the release of a vaccine. "We should
start putting together strategies that will affect an
The cotton production forecast for 2021 is projected increase in the demand for cotton," concluded
at 25,1 million tonnes, which is a 4,2% decrease from Hughes.

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