Italy has not been experiencing its typical autumn weather. For the past two years, weather has been hot and sunny into September and even October, and consumers are taking note (and adjusting their shopping behavior accordingly).
One of the industries that is more affected by this prolonged hot weather is textile and fashion. “People are wearing light garments until the beginning of November and then they decide to wait for Black Friday or even Christmas sales,” noted Patrizia Bolzoni, General Manager Sergio Tacchini, a company working in the apparel sector.
“An evidence of this trend is OVS performance: it closed 7,69% under at Milan Stock Exchange, after HSBC cut their target price from 2.9 to 2€ with a ‘hold’ judgement.” HSBC also linked the more cautious position to the particularly warm weather in the third quarter.
Because of these changing shopper habits, fashion retailers are reassessing the kinds of clothes they sell and when they sell them: They are rethinking the design of the clothes, choosing lighter materials, or even researching smart materials designed to adjust to shifting temperatures, to push sales of garments suitable to warm weather.