It wasn’t that long ago that we were talking about post-holiday returns and what apparel retailers could do to tackle them. Today, the problem of holiday returns seems like small potatoes compared with the impact of COVID-19. Apparel retailers are facing a mounting pile of overstock, unlike anything they’ve seen before.
Apparel has been disproportionately affected during the pandemic. Consumers are using their limited funds to purchase items they deemed essential. What’s more, in the wake of stay-at-home orders by governments across the globe, millions are working and socializing from home, with little need for additional clothing or accessories.