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Figure 1: Conceptual Framework
Figure 1: Conceptual Framework
Figure 1: Conceptual Framework
Marketing
Thinking a creative and innovative marketing strategies and practices will navigate the
online clothing businesses through this new normal. Covid-19 increases the competition
between clothing industries, therefore, this forces every retailers to reassess their thinking
about the direction of promotion, advertising, and marketing campaigns to sustain a steady
stream of revenue.
The pandemic initiated an unusual and simultaneous rise and fall in demands of clothing
products. Hence, pricing still remains critical not only on clothing industry but also across
different industries. Pricing is a vital component of a business' rapid revenue recovery strategy.
Therefore, it is important that pricing leaders focus on being creative when it comes to fulfilling
the customer's demands while preserving value.
The covid-19 has influenced the cost structure and the workforce size of every
businesses. The lockdown resulted to increase in unemployment rates due to lack of work and
high cost to retain these employees. This gives way to retailers encouraging their customers to
purchase online. Due to changes in cost structure, the cost of production also changed which
affects the sales performance.
Financial Health and Operational Continuity
The crisis created by the covid-19 outbreak have threatened the continuity of
operational activities and the overall financial health of every businesses. During the pandemic,
small businesses have been particularly hit hard by the substantial reduction in revenues. A lot
of businesses were even forced to file bankruptcy since their income is not enough to cover the
cost of production and making it harder for them to pay their bills. The financial health and
operational continuity of a business is a good indicator whether a business' sales performance
is increasing or decreasing.