The global fashion industry is finally recovering its footing after being hit by major disruptions emanating from the COVID pandemic of the last two years. The industry that spent decades turning design, aspiration, and high-quality goods into a $3 trillion global behemoth went for a toss when COVID came knocking.
The global fashion industry is estimated to be worth about $1.78 trillion and this represents a remarkable 14 percent in growth since 2018. One major factor responsible for the exponential growth of the sector has been digital innovation based on e-commerce. The increase in e-commerce purchase in the fashion industry is because people have become more internet savvy, coupled with this peculiar coronavirus period which entails restricted movement and inadvertently shopping.