At first glance, fashion brands born online might seem the best positioned during a crisis that has sent consumers into their homes for an indefinite period of time, unable to shop at stores in real life and desperate for connection with the outside world.
“A lot of smaller brands are in a position where they need to conserve capital; they need to reduce expenses. They need to make sure they’re protecting their business so when COVID-19 is over they can come back to strong growth again,” Sole continued. “That’s harder to do for a small company that’s not making money and that doesn’t have a clear path to profitability, especially right now, where sales are down significantly.
“This is when companies will find out how loyal their customers are and how organic and sustainable their business models are,” Siegel said. Threats of a global recession aren’t doing much to entice consumers to buy more. Some will be reluctant to spend any money at all, at least in the near-term. E-commerce companies, especially the relatively young ones that haven’t yet scaled, that have placed big bets on future orders and are still learning how to be profitable, are particularly vulnerable.
“Away is a travel brand and no one is traveling, so they’re going to suffer tremendously right now, but eventually that will bounce back,” Smith continued. “Things will probably get back to normal faster [for a digital native brand like Away] than any of the other traditional brands, because they are well-positioned for direct-to-consumer. Which means they’re typically more asset-light than the traditional retailer.
Sales of comfortable apparel, like bralettes, are on the rise for several e-commerce brands as consumers shelter in place. Courtesy Underbares
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