Accelerate the economic paradigm shift

Due to COVID-19, the “Zipkok” industry has grown significantly as governments have imposed restrictions on going out, such as lock down, and more people are reluctant to leave their homes due to the risk of infection. Demand for IT home appliances, including home care and simple meals, as well as telecommuting infrastructure, has also increased significantly.

Demand for non-face-to-face services as well as products has increased. Apps and platforms for non-face-to-face services such as video conferencing, delivery, agency, and content use have been greatly activated. In particular, as the demand for medical services has soared due to the spread of COVID-19, many countries have established non-face-to-face medical infrastructure.

As COVID-19 made face-to-face commerce difficult, “non-face”trading methods were also preferred.

As online commerce spread in the wake of Pandemic, various online-based retailers have expanded their base of the market during Pandemic, including B2C e-commerce such as Amazon, Tmall and Razada, as well as C2C e-commerce such as Taobao and eBay.

Export marketing and promotion were also made online. In particular, “live commerce”commerce, which sells goods like home shopping through live Internet broadcasts on mobile platforms, has been an unprecedented success. In B2B transactions, exporters also sought buyers through e-market places and continued export consultations through video conferencing platforms at online exhibition consultations.

On the other hand, with Covid-19, the opportunity to face each other has decreased, and the market for clothing and jewelry worn when meeting others has decreased significantly. Last year, the world’s fashion and clothing industries, including textiles, clothing, shoes, and hats, suffered a record blow.

According to a Reuters report earlier this year, McKinsey said that the valuation of clothing inventory by clothing companies around the world is about $1,680 to $192 billion, which is twice as much as before COVID-19. Also, H&M, a global textile and clothing company, said that the decrease in demand due to the uncertainty of COVID-19 and the suspension of offline stores affected new orders.

Bangladesh, which is heavily dependent on the national economy for its textile and clothing industries, is hit hard. According to a survey of 50 factories by the Association of Clothing Manufacturers and Exporters in Bangladesh earlier this year, new orders were 30% lower than usual due to outing regulations in January following the shutdown before Christmas in most parts of Europe this season.

“Fashion products are relatively vulnerable to the COVID-19 crisis due to their discretionary 구글상위노출 consumer goods characteristics,” said Chung Sung-heon, head of the industrial research division at the Korea Federation of Textile Industries. “According to McKinsey, the average market capitalization of clothing, fashion and luxury companies around the world decreased by about 40% between January 2020 and March 24, 2020, a much steeper decline than the market capitalization of the entire stock market.”.

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