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E-commerce has been touted as the bright spot in this bleak landscape, but while some apparel spending is moving online as people batten down for comfort — globally, searches for sweatpants, hoodies, leggings, and Ugg slippers have ballooned, according to fashion search platform Lyst — it hasn’t given companies the bounce they’re craving. (Not to mention, stores like Next and Net-a-Porter have temporarily halted e-commerce over concerns for employee safety.) Online sales for fashion goods, according to McKinsey & Co, have fallen 5 percent to 20 percent across Europe, and 30 percent to 40 percent in the United States.
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