With every industry in the world being devastated by the COVID-19 pandemic, picking up the pieces is going to be far from easy. Life as we have known and loved is over, and a new reality is soon to set in, once the world slowly begins to open up again.

According to HighSnobriety, with sales at an all time low and fashion weeks cancelled, the luxury market “is likely to lose $65 to $75 billion in sales this year.” This huge hit is going to take time to bounce back from, so what are designers thoughts? Many believe that this has changed the way fashion week will be presented in the future.

Christopher Peters, designer of CDLM stated, “In all honesty, I’m not sure if there will be a fashion week following coronavirus. I feel like a lot of designers (as well as stores and magazines) are probably going to go under.” Many agree with him, and it does seem likely. Many companies are not going to recover from the pandemic.

Those who do, are faced with a new challenge, how to get consumers back. Once life begins to get back to some sense of normalcy, people’s first instincts are not going to be to go and spend money on unnecessary clothing and accessories. Designer Nicholas Daley stated, “There could be a shift in consumer behavior. People might be in a different financial situation and will want to look closer at what they’re buying and think ‘do I need to buy this? Is it necessary?’ and people will find it hard to justify blowing their savings on another $2,000 designer jacket.”

Companies are in extreme debt, and will need to take action to bring their revenue up. This could include store closures, letting go of employees, and having sales or incentives for consumers. However it is not all bad.

As Alexandar Werz, one of the CEO’s of Karla Otto, stated, “Crisis always provokes creativity.” This could not be more true. Centuries ago out of plague and disaster came the Renaissance period, a time which changed the art world forever. I think a similar occurrence will happen for the fashion industry. New innovative ideas will be sparked, and consumers will be eager to find a sense of normalcy, which art and fashion bring to the table.

An emphasis on shopping online will be huge. With social distancing rules contuniuing despite stores opening up again, some stores may even opt to go completely online, which would not be surprising. Companies such as FashionNova, which are almost exclusively online, are growing in popularity. This might be the push that retailers need to do the same and go completely online.

A new market may have opened up, as the demand for masks is at an all time high. Many places are requiring masks, and this rule will continue to be in effect as restrictions are eased. Many retailers and designers have taken advantage, making trendy and more “fashion forward” masks.

Hundreds of designers have put out masks, hoping to bring in revenue while promoting safe social distancing.

Bouncing back will be difficult, but if any industry if the most resilient and evergreen it is the fashion world. Together, the world can go back to a place of familiarity and peace, post COVID.