Worldwide, expected turnover 2020 vs. 2019 is down by -10.5%”The results show that on average companies in all regions are expecting their turnovers in 2020 to be significantly .span style=”font-size: 12px; font-family: tahoma, arial, helvetica, sans-serif;”>lower than in 2019. On world average, the turnover in 2020 is expected to be -10.5% lower than in 2019. While in .span style=”font-size: 12px; font-family: tahoma, arial, helvetica, sans-serif;”>North America the expected plunge will be on average -7.5%, companies in Europe are expecting a drop of -17.5%. .”div style=”font-family: "Times New Roman"; font-size: medium;”>.”It is important to note that two factors played an important role in the survey that are also interconnected with .span style=”font-size: 12px; font-family: tahoma, arial, helvetica, sans-serif;”>each other. These are geography and time. Those companies and country organisations that had replied early .span style=”font-size: 12px; font-family: tahoma, arial, helvetica, sans-serif;”>(between March 13-16) and reported about additional orders were not (yet) directly or indirectly effected by the .span style=”font-size: 12px; font-family: tahoma, arial, helvetica, sans-serif;”>Corona-pandemic. With other words, these companies and organisations were neither affected by a Coronaepidemic in their own country, nor were their customers (mainly in Europe and North America). The later replies .span style=”font-size: 12px; font-family: tahoma, arial, helvetica, sans-serif;”>were received (from March 17onwards), the more negative were the answers across all regions. It can be assumed .span style=”font-size: 12px; font-family: tahoma, arial, helvetica, sans-serif;”>that the fact that after March 16 more and more governments in Europe and North America introduced almost daily .span style=”font-size: 12px; font-family: tahoma, arial, helvetica, sans-serif;”>new regulations that were restricting public and business life (e.g. closing of kindergartens, schools, universities, .span style=”font-size: 12px; font-family: tahoma, arial, helvetica, sans-serif;”>shops, bars, cinemas, museums, sport facilities, ski resorts, borders, etc.) was crucial. With all these restrictions in.”place ‘offline’ consumption of textiles and apparel in retail shops, departments stores, outlets stores, etc. dropped.div style=”font-family: "Times New Roman"; font-size: medium;”>”dramatically. This seems to have led brands and retailers across the board to cancel and/or postpone orders.div style=”font-family: "Times New Roman"; font-size: medium;”>”significantly.div style=”font-family: "Times New Roman"; font-size: medium;”>”Challenges: Safety, lack of supply or demand and liquidity – Opportunities: Medical textile products.div style=”font-family: "Times New Roman"; font-size: medium;”>”On the question of the main challenges companies are facing, companies around the world highlighted the .span style=”font-size: 12px; font-family: tahoma, arial, helvetica, sans-serif;”>following..”• safety and health of the workers and staff; disrupted supply chains, especially in connection with supplies.div style=”font-family: "Times New Roman"; font-size: medium;”>”from China;.div style=”font-family: "Times New Roman"; font-size: medium;”>”• lack or delay in supply in the apparel industry;.div style=”font-family: "Times New Roman"; font-size: medium;”>”• lack of demand or the fear that demand will drop significantly;.div style=”font-family: "Times New Roman"; font-size: medium;”>”• lack of liquidity.div style=”font-family: "Times New Roman"; font-size: medium;”>”With regard to opportunities, companies also mentioned:.div style=”font-family: "Times New Roman"; font-size: medium;”>”• streamlining their internal processes during the crisis will make them emerge stronger;.div style=”font-family: "Times New Roman"; font-size: medium;”>”• companies producing fibres, yarns, fabrics and end-products with health care and protection function will .span style=”font-size: 12px; font-family: tahoma, arial, helvetica, sans-serif;”>see new opportunities..”The results of the second survey for the period March 28 until April 3 on the impact of the Corona-pandemic on the.div style=”font-family: "Times New Roman"; font-size: medium;”>”global textile industry will be released on April 6. .
Date:4/16/2020
Source:hometextilestoday.com