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ARGH! H&M Set to Close 170 Stores in 2020.

ARGH! H&M Set to Close 170 Stores in 2020.

Even though the Recovery MCO has allowed many to slowly resume back to their "normal" lives -- shopping and eating out, the Coronavirus pandemic has changed more than just the way we usually do things.

According to Swedish fashion brand, H&M, the change in shopping habits has led to a 50% drop in its net sales as of the mid of 2020.

H&M opens web shop on Tmall | RetailDetail

This has unfortunately caused H&M to quicken its plan of closing its physical stores.

Initially the fashion brand had planned to only close 120 stores, but with the major drop in net sales, H&M has decided to now close a total of 170 stores - all by this year.

(No word on when all 170 will be closing down, but it looks to be very soon.)

H&M speeds up store closings in 2020, focuses on online shopping ...

However, results has shown that H&M's online stores have excelled in sales by 32% - and this brings us to the next point.

The Swedish fashion brand has stated that it will now focus more on online sales as majority of its customers' shopping habit have seemed to steer towards digital puchase.

"To meet this, we are continuing to adapt the organisation and improve our ways of working, which will make us more flexible, fast and efficient. We are accelerating our digital development, optimising the store portfolio and further integrating the channels," said H&M Group CEO Helena Helmersson.

Letter to colleagues, customers, partners and friends from H&M ...

Agreed that the biggest challenge of shopping online would be that we can't physically try out the clothes before purchase, but then again since stores re-opened, changing rooms were not allowed to be used anyway.

...and knowing most of you, you guys must have definitely shopped at H&M more than once - so finding your right size is not even a problem.

To get shopping @ H&M now, click right HERE.

H&M launches shop online in Indonesia

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