Above the Fold

That’s So Last Year … Literally

COVID-19 has certainly strained retailers and manufacturers of textiles. Not only have sales dropped due to greatly reduced traffic and/or outright closures, many Americans have scaled back the purchase of nonessential clothing and goods due both to monetary constraints and the fact that many of us simply didn’t leave our house for months (except when necessary, of course).  

As consumers slowly get back to pre-pandemic activity, fashion producers and sellers are implementing strategies both online and at stores to help move their goods. But with margins already squeezed, most can’t afford to discount their items any deeper, nor do they want to run a bevy of competitive sales on fresh, new styles and products that would have normally sold at a premium. So they are turning to an unconventional idea — take the year off (sort of).

Since widespread store shutdowns prevented many shoppers from exposure to all the latest styles, a great number of brands are simply shelving 2019 summer fashion trends and inventory until 2021. Called the “packaway” option, this strategy will work best for retailers with more timeless designs and styles, but may be less of an option for the high-fashion world with its fast-evolving “it” trends. Those retailers will likely have to extend their selling season and likely offer discounts on inventory that doesn’t move quickly. 

Three Things 

1. When Is It OK to Track Us Without Warning? – Like it or not, many of those little digital devices we carry in our pockets, purses and briefcases are broadcasting all sorts of data without your knowledge. When you download an app or even set up a new phone, the fine print allows for this. During the pandemic, governments tapped into our little “location beacons” to track movement and overcrowding, but privacy advocates and some lawmakers are working on legislation (like they have in Europe) that prevents this. The question is whether tracking is a real lifesaver or simply an invasion of privacy. 
2. FCC to T-Mobile: Can You Hear Me Now? – The Federal Communications Commission will open a probe into the massive, nationwide disruption Monday that seemed to be focused on T-Mobile’s networks. More than just calls and texts, the outage prevented payments to businesses, alarm notifications and even the salaries of some whose employees use mobile devices to track engagement. 
3. Atkins, Keto Can’t Keep Rice Down – The wholesale prices of rice rose to levels not seen in more than nine years as demand for the tasty, starchy staple rose during the COVID-19 shutdowns. The grain has bucked bearish trends in most other commodities with prices also driven by a shortage of supply domestically and an increase in U.S. exports.  

Did You Know?

The Latest (Fact-Checked) COVID-19 Positives

• Researchers in England found positive evidence that an inexpensive, abundantly available steroid called Dexamethasone reduced COVID-19-related deaths by 33% in a study of more than 6,000 critically ill patients. 
• Hollywood is set to begin production after its months-long shutdown. California governor Gavin Newsom allowed the industry to begin slowly reopening after June 12. According to several industry unions, the new protocols will involve staggering staff and actors on set and even eliminating paper scripts.