The economic roller coaster isn’t over — and fashion can just hold on as tight as possible.
As horrible as the first phase of the coronavirus crisis was, it was relatively straightforward (and straight down). Almost everybody was forced to shut down and go home, leading a projected contraction of more than 30 percent in second-quarter gross domestic product and an unemployment rate of more than 11 percent.
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Even though the initial shock passed, that sinking feeling hasn’t gone away. No one knows what’s coming next. For retailers and brands, that means adjusting their business models and conserving cash, fingers-crossed they make it to the other side of the open-ended economic crisis.
The coronavirus is the driving force behind the chaos, but it’s not the only variable. The reactions to the pandemic on the part of federal policy makers,