The apparel industry is one of the largest sectors in the world. As the world’s population increases, the demand for clothes also surges. However, 2021 has not been a smooth year for the companies as they experience a setback. Here are some challenges facing the apparel technology industry.
The industry has experienced low demand for their products in 2021 by 12 percent. In 2020, many people lost their jobs due to pandemic. Up to now, the economy is not yet on its feet. As a result, people are using what they had saved to buy food and other basic needs, thus sparing no money to buy clothes.
Furthermore, people have nowhere to go with the new clothes. The lockdown has made people spend most of their time indoors. In the morning, you wake up, open your laptop and start working without looking at the clothes you have in your drawer. Therefore, people are not buying clothes. People who lost their jobs have no reason to wear new clothes since they buy new office work clothes.
One of the most common challenges in the industry is controlling inventory. Though the challenge has been there, it has taken another form due to the way consumers are shopping today. Consumer preference is rapidly changing in the current century, thus speeding up inventory turnover requirements.
Suppliers’ work has become challenging as they have to meet both the retailer and the wholesaler’s needs. With the advent of diverse designs, consumers are now ordering customized clothing. On the other hand, Wholesalers continue to demand their usual products for a large group of clients.
The result is a lot of pressure in the apparel industry. These different orders from customers put pressure on the raw materials. The industry has to continue changing their materials more often to meet the new demand.
The COVID 19 brought the industry almost to a crawl as states closed their boundaries to prevent the spread of the coronavirus. China is the largest supplier of apparel in the world, where it produces 31billion units. Many countries, including the USA, banned people and products from China since it was the hotbed pandemic.
Countries have used up the materials that were stocked before the COVID. No one expected that the whole world would come to a stop due to coronavirus. As a result, the apparel industry had not prepared for a period when they would not have the materials. Besides, the pandemic stayed longer than expected, and the industry has used all its materials.
Closed industries also cause a shortage. Countries closed down industries during the pandemic. Most of these industries are yet to pick up their pieces as the world’s economy tries to recover from the damages.
The new demand for sustainable clothing is also a challenge in the apparel technology industry. Global warming affecting the planet has awakened world leaders to requests for a sustainable economy. The world wants durable clothes that won’t be thrown in the street after one year. It’s a challenge to the industry because the demand for short term clothes is much higher.
Trendy fashions are putting pressure on people to keep up with the trend. Therefore, people are buying a lot of clothes which they will never wear again. The industry is under pressure to develop ways to meet their consumers’ needs more sustainably.
The changing technology is disrupting apparel technology. Manufacturers are producing new technology to be used in apparel making. They started with 2D, and now they are on 3D printing. Besides, these technologies are losing value frequently.
There is a new technology in the industry almost every year. Therefore, organizations are forced to keep changing their technology or be left behind. The trend has put a lot of pressure on the industry. Many are giving up on new methods as they have discarded many technologies within a short time.
These are the top five challenges facing the apparel technology industry you need to look for in 2021. The high demand for new products, technology, sustainability, and inventory level will disrupt the industry this year.