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Retailers About You, Vinted share how they've succeeded amid COVID-19 - Business Insider

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German retailers About You and Vinted share how they navigated changing shopping trends to succeed during the pandemic

Tarek Müller, CEO of the German fashion retailer About You, said his company has found success during the pandemic by doubling down on e-commerce and capitalizing on shifts in consumer demand.

"There is small growth in the online fashion sector, which is good news obviously because offline has massively suffered," he said. "But what has changed even more was the demand. Demand in certain categories like evening dresses has obviously massively dropped, but [categories like] sports, kids, and leisurewear have massively increased."

As a result, Müller said About You had to sharpen up in areas like fulfillment and inventory tracking to ensure its online business was running smoothly. Alexa von Bismarck, German country manager of the online payment service Ayden, said her company quickly saw shifts in payment trends away from popular areas like travel, and instead to online retailers, streaming, communications, gaming, and gambling sites. Meanwhile, Thomas Plantenga, CEO of German fashion resale site Vinted, said the pandemic prompted high volumes of shipments from consumers with extra time on their hands to clean out their closets.

 

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