For the past several decades, globalization has been a hot topic and it also anticipates every aspect of the world to connect each other. Likewise, globalization also allows consumers to have more access to catch up with updated fashion. The advantages of globalization bring a new philosophy called fast fashion, which holds quick response time and enhanced design in fashion apparel industry. In this paper, I will deliver By exploring all the aspects of each system, I will conclude the reason why fast fashion becomes the mainstream of the fashion apparel industry, and use one particular brand, Zara, as an example to discover the impact on consumer behavior in detail. Finally I will make some comments on the future of fast fashion and what luxury brands will react to this circumstance…….. It is necessary to identify fashion and explain the systems apparel industry uses before I start explore the essentiality of fast fashion. According to Dictionary.com, fashion is defined as the prevailing style or custom that is in a current mode and used to express oneself. It can be clothing, accessories, hair, etc. Why certain people like to frequently shop in malls and keep updating apparels in their closets every season? Form psychological perspective, people usually consider clothing as a symbol to show their values, personality and lifestyles to others. Critically, a rapid imaginative change and symbolic expression supports a sense people have about fashion. People believe that an ideal self-identity can be communicated to others through clothing, so figuring out how people make decision when they perceive clothing among different brands and understanding their needs and desires can help apparel industries expending and maintaining market s... ... middle of paper ... ... 1% of the $181 billion U.S. apparel market (Tiplady, 3). The potential growth of fast fashion will expend all over the country just like a flow. H&M got its sales boosted up about 20% in the first three months in 2006. Zara is also going In addition, since more shoppers are loading up on online shopping style when they can not spent time to shop because of busy work. Asos, an online market leader in the online shopping industry, announced that its sales of maxi-dresses and festival wear helped its sales has rose by 54% during the first quarter this year (Jessup). From this point, fast fashion could consider the possibility of online business and gain a share of the market. Frequent, limited-edition products, in-season design. Consumers tend to be more demanding and more arbitrary, so use appropriate strategy will be critical to all fast fashion retailers.
Currently majority revenue is generated by store sales but online sales from the stores’ websites are increasing. With US dollar getting weaker, international sales from these US based websites are increasing too. This creates significant positive outlook for the large incumbent players but also acts as a significant barrier of entry for new players.
(Table I). H&M and Forever 21 have certainly nailed the price with either the quality or image but never all three. Zara has done this with ease. Each piece of merchandise is priced at a comfortable price, if not a little higher than what other industry competitors may offer. Economics of Scarcity heighten the sense of now-or-never, supplying only handfuls of dresses at a time. Zara uses a method call; ‘rapid design change’, they move around most of the garments in the store, so that the floor looks new, also the floor is never flooded with garments. Thus, Zara is self-considered a Designer boutique, but it contrasts with the prices they practice. So it can be a good point saying that Zara has the best of both, the fashion design from boutiques like Louis Vuitton and Armani with the prices of dedicated ranges like H&M. It leads to the thought of a comparative advantage. Scarcity in fashion increases desirability, which means shoppers need to buy quickly as the item may not be available next week. Lower quantities also mean there are not much to
The motto of the brand, “casual luxury”, it is more targeting on fashion-conscious youngsters who are approximately between 14 to 22 years old with high purchasing power from higher family incomes. Regarding to the psychological characteristics of this particular group of buyers, they naturally have the preference to be unique and “cool”, compare to their peers. (chloehalley.com, 2014) So, to satisfy this need from the targeted market, A&F has been tirelessly offering the market “cool” clothing and
Fashion is an essential part of everyone’s life, you can’t walk around naked, it’s a violation of the law. There are many different elements that go into the clothes you select off the racks at department stores and specialized boutiques. The selection process is an essential part of personal fashion. Ever wonder why when entering a beloved store in the mall all of the stores are featuring the same color pallets? How about the styles one will find on the racks? Where do these styles come from and who decides they’re the trend to follow?
Nowadays, fashion is not about the tangible quality of garments as fashion images are more accessible to the consumer than the actual garment itself. Images reach a wide group of people through billboards, television, newspapers, magazines, websites, malls, cinemas, and so on. We understand ads because
‘Haute Couture’ is a French word, which translates to mean, ‘high sewing’ or ‘ high dressmaking’. It refers to the creation of exclusive custom-made clothing. I t is constructed by hand, with the use of sewing machines, from start to finish. It is made from high quality, expensive fabrics, which are sewn with extreme attention to detail. The most experienced seamstresses finish them. A haute couture garment is often made for a client tailored specifically for the wearers measurements. Considering the amount of time money and skill that is allotted to each completed piece haute couture garments are described as having no tag. Meaning, budget is not relevant. Each couture pieces is not made to sell, they are designed and constructed for the runway, just like an art exhibition. Clients value the uniqueness of the couture and the status that is attached to a made to measure service. They could spend up to 100,000 on a couture wardrobe each season.
Recent years, Fast Fashion has come into ordinary people’s daily life and connecting them with the fulfilling of the need of following the trend of fashion with a reasonable and price and approachable
This industry encompasses all garments and accessories such as shirts, pants, jewelry, and watches among others. The estimated market value of this industry sits at $352.4 billion dollars, which takes in to account seventeen major players in apparel and accessories (“The World’s Biggest Public Companies”, 2016). The fashion industry is a regarded as a very important one due to its large role in daily life, especially in developed countries, and is one that fluctuates often with new trends
Due to the productivity, the poor quality of clothing becomes unvalued that has led to environmental and economical damage. Several companies initiate this production of clothing: The reason why Fast fashion has escalated through the years is because of the Internet and the growing Ecommerce business. People see what is on the runway and want the same looks fast and at affordable prices. You also have the convenience of shopping from home which is what is really hurting the retail industry but shaping the Fashion Industry shopping trends.
The business model that sets Zara apart from other clothing retailers is how rapidly the company changes stocks and releases new product lineups. The company averages 12-16 collections annually which equates to more than one lineup a month. Due to stock being limited and the rapid production Zara brings forth, their items are viewed as exclusive promoting further business. Their customers are happy knowing that their specific article of clothing is more “rare” due to only having an average of a two-week window to purchase the clothing. The company specifically targets current trends and has them in the store within 30 days. This maintains the brand’s uniqueness and relativity in fashion.
I hope to use this article in essay to support the policy section of my claim. Finding solutions to fast fashion is one of the harder topics to write about, and this article gives good insight to how I can shape the policy portion of my claim. I will bring up the idea of organic cotton, and other sustainable fiber plants, as a way consumers can shop more ethically. This article has broaden my perspective to possible solutions of fast fashion.
Fashion in the 21st century is a big business, as its production employs millions of people and generates billions of dollars in revenue. Fashion has for the past century been, and is still today, used as an indicator of social change and progress, as it changes with the social norms of the society and the political changes of the world (Finkelstein 3). Works Cited Finkelstein, Joanne. A.S.A. & Co. Fashion: An Introduction to Fashion. New York: New York University Press, 1998.
To begin with, I shall look at what fashion is; it is a currently popular style or practice involving clothing, footwear or accessories. It mostly refers to the current trends in looks and dressing style of a person (Cumming 234). In most cases, fashion is confusedly related to costumes; when a person talks of fashion they are seen to mean fashion in terms of textile. Fashion is seen to originate from the Western world and it is copied by other places. In this paper, we shall look at how fashion affects lifestyles and the group of people who are affected most. The paper further investigates how media is used to transmit fashion from one region to the other. Although it has been seen to affect people’s lives many people have different perspectives on fashion and dressing.
Fashion is a controversial issue in society nowadays. We live in a consumerism advanced era in which whether following fashion trends or not has become a debatable point. Many people believe that it is important to follow fashion trends. For example, Lord Chesterfield once said, “If you are not in fashion, you are nobody.” The question is why fashion should be an essential matter of concern to all of us. As far as I am concerned, each person should be able to decide if one wants to follow a trend or not.
The term fashion seems very close to the term trend. Earlier discussion elaborated on both fashion and trend as a constant process of change, in which novel ideas which represent the spirit of the times, i.e. the Zeitgeist (which may manifest in dress, products, style or messages), emerge, become adopted and spread through the population through human agents such as the group referred to as Trendsetters before gaining mainstream acceptance. Both fashion and trend are representations of a major social, cultural phenomenon that has a strong economic impact, which has undergone a major acceleration and compression in the 20-21st centuries. Fashion seems to be a more established field of research, while trend research is still an emerging field. In addition, fashion and trend research focus on different aspects of the phenomenon, although some aspects overlap, such a...