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Beauty trends Must Read: How to Protect Your Business During a Pandemic, Brands Are Weighing the Pros and Cons of Discounting


Beauty Trends

Beauty trends Must Read: How to Protect Your Business During a Pandemic, Brands Are Weighing the Pros and Cons of Discounting

Photo: Noam Galai/Getty ImagesThese are the stories making headlines in fashion on Friday.How to protect your business during a pandemicAs the current public-health crisis has caused many stores to close, many small-business owners are facing a variety of issues due to economic losses. Consumers are now mostly at home, and their shopping focus has been…

Beauty trends Must Read: How to Protect Your Business During a Pandemic, Brands Are Weighing the Pros and Cons of Discounting

Beauty trends

beauty trends GettyImages-1213424496

These are the stories making headlines in fashion on Friday.

How to protect your business during a pandemic

As the current public-health crisis has caused many stores to close, many small-business owners are facing a variety of issues due to economic losses. Consumers are now mostly at home, and their shopping focus has been shifted to daily essentials, rather than the luxuries of beauty and fashion. Business of Fashion highlights what brands can do to strategize before things plunge for the worst, which includes cutting non-essential spending, increasing online traffic and more. {Business of Fashion}

Brands are weighing the pros and cons of discounting

The retail industry is in a difficult position and to sell excess inventory, many brands are turning towards heightened discounts. “Companies that mismanage their inventory and can’t sell through it will go bankrupt. The off-price channel, which is the way companies normally exit old inventory, will have a lot of supply and little demand. It’s going to be a heavily promotional environment in the next few months.” said Joe Kudla, CEO of activewear brand Vuori. Discounts can help boost sales in a short amount of time to help businesses keep themselves at bay until things improve, but can also create bigger losses if they push the percentages too far. {Glossy}

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How the government should help independent American fashion businesses

America is home to many independent labels that are unfortunately on the verge of collapse as local factories begin to shut down and brick-and-mortar locations are closing due to health concerns. As the losses mount, there’s a growing demand for government assistance. According to Business of Fashion, the current administration has proposed a plan to create further loans for businesses, and New York Times financial columnist Andrew Ross Sorkin has offered up ideas for no-interest bridge loans to help sustain business operations. Without government help, many brands will likely be facing bankruptcy in the near future. {Business of Fashion}

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