The covid-19 outbreak in early 2020 caused a sudden and total collapse in international travel. The recovery has been slow as intermittent restrictions, economic conditions, and other factors have hit normal business and leisure travel patterns. This has affected several domestic apparel firms including Macy's, Nordstrom, and Ralph Lauren.
Overall, the pace of recovery in international travel depends on economic conditions in the US and abroad, currency movement, and consumers’ appetite for travel. It’s also possible that travel to the US from China may continue to be soft due to hostilities between the two countries and the rise of shopping opportunities within China.
Still, our latest travel industry trends show that value persists in the industry as consumer demand for trips stays strong.