Daily LInks
1. The pandemic is yet to dampen demand for luxury goods resales: The pandemic is also catalyzing a shift towards buying and selling even the most exclusive goods digitally. The auction house has reported strong demand for online sales, with traffic over the course of March increasing by 16 per cent – a trend matched elsewhere. – Read More on the FT
2. Some retailers are too broke to go bankrupt: “We’re clearly seeing a lot of companies engage [bankruptcy] advisors. But it’s not a great time to file. A lot of companies are on hold because you can’t get the money you need coming in from liquidation sales.” – Read More on CNN
3. These 27 retailers could file for bankruptcy as pandemic roils the industry: From Neiman Marcus and Stein Mart to L Brands and Express, the COVID-19 crisis has significantly changed the risk calculus around retail, and that a whole new set of challenges for struggling retailers is likely setting the stage for a large wave of consolidation. – Read More on Retail Dive
4. Does anyone care about fashion anymore? For ‘influencers’ it’s a hot topic: It’s ironic in this case that influencers may be poised to capture more eyeballs than ever. With lockdowns in effect all over the world, people are spending more time on social media. In the first week of quarantine, Instagram Live views in Italy doubled, and Facebook usage has skyrocketed in the country by 70 per cent. Connecting with others—even through fashion—has offered an escape from all the death and economic chaos. – Read More on Macleans
5. Lord & Taylor to liquidate its stores as soon as they reopen, sources say: Its preparations to liquidate its inventory as soon as its stores reopen offer a window into the grim future of a high-profile retailer that does not expect to survive the pandemic’s economic fallout. – Read More on CNBC
