The cost-of-living crisis is undoubtedly squeezing companies’ profits and leaving their present and future in uncertainty. Clothing (beyond the essential needs) is now seen as a nice-to-have commodity as household incomes decline, so we’ll likely continue seeing slumps in fast-fashion sales over the coming months.

For retailers looking to survive, it’s about making the simple things count to provide customers with any reassurance they can give. Creating emotional connections with consumers through transparency and shared values to enhance the customer experience is key to cementing loyalty in the long run. Right now, retailers that play the long game will ultimately have the best chance at success.