1. Prada’s Bertelli Says China Sales Up More Than 10% in May: Prada SpA’s sales in China rose “significantly” more than 10 percent in May compared, the fashion brand’s co-chief executive officer, Patrizio Bertelli, says. However, this is still far from being enough for a complete recovery of the luxury sector after the end of coronavirus lockdowns. – Read More on Bloomberg
2. Five retail experts—from Nike, Athleta, and more—on how stores and brands can survive the COVID-19 era: “I don’t believe that retail will completely evaporate overnight. But certain retailers will morph their businesses into a new type of experience for their clients. Now more than ever, the focus is going to be on relationships between the brands and the consumers in a far more intimate and digitally enhanced way.” – Read More on Fast Co.
3. Retailers are testing out reservation-like appointments: While reservations don’t quite lend themselves to all businesses, some retailers are finding them useful as they navigate partial reopenings and enforcing social distance policies. – Read More on Modern Retail
4. Green Practices and New Fashion Apps Will Tackle Coronavirus Waste: 40 percent of consumers, who did not shop online previously, started using online channels during COVID-19 and 26 percent expect to shop less at physical stores following COVID-19. – Read More on Forbes
5. Fashion Stockrooms Are Bursting at the Seams: Weak online demand means retailers haven’t been able to shift as much merchandise as they would like via home deliveries, and the task of clearing stock in the aftermath of the pandemic could depress retailers’ profit margins for years. – Read More on the WSJ
6. Charting the Rise and Fall of the Global Luxury Goods Market: Global demand for personal luxury goods has steadily increasing for decades, resulting in an industry worth $308 billion in 2019. Medium-term market growth could be driven by a number of factors, from a global growing middle class and their demand for luxury products, as well as retailers’ growing shift to e-commerce. – Read More on Visual Capitalist