PRESS RELEASE: Changing consumer buying habits amid the Australian recession

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Consumer buying habits have undoubtedly changed in the last few months. With the strike of COVID-19 and the resulting plunge of Australia into recession, the fashion industry is not set to come out of this easily. What can we expect?

“It’s going to be tough,” said Nikki Williams, a Sydney-based boutique designer that creates handcrafted leather bags. “Prior to the COVID-19 pandemic, traditional retail was already struggling. For small businesses entering this space it is highly competitive and costly.”

Nikki predicts the recession will make consumers wary, not just of expenditure but also of ethical practices demonstrated by brands during COVID-19.

“Consumers are asking more questions – they will remember what you did and stood for during this crisis, or whether you went into hiding.

“I think we are all looking to ‘buy less, buy better’. As shoppers, we are becoming more discerning, it will be increasingly less-cool to carry the latest fast-fashion trend. It’s more about buying a stylish quality product that can be worn for seasons to come. Following on from this, I think shoppers will be looking to help support Australian owned businesses. It’s now more important than ever to support Australian business.”

When COVID-19 hit, Nikki experienced a myriad of issues, particularly in finding high-quality manufacturing which she had previously outsourced to Italy.

She isn’t alone.

A survey released last month by Australian Fashion Council had 182 responses from those within the Textile, Clothing and Footwear community. They found only 34 percent of those surveyed felt “confident that they can rebound financially”.

“With changing consumer habits, brands are going to need to adapt – especially local brands that don’t have the advantage of a high cash flow. Customers can’t afford to pay ridiculous amounts of money, they need affordable, high-quality products. This is what our industry has to give them.”

June 17, 2020/by Reland Pigte

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