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...
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... 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.
(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
Fast fashion is a complex and multifaceted problem that has effects reaching to every corner of the globe. ‘Fast fashion,’ similar to fast food, is cheap, easily accessible, mass produced globally standardized product. It is characterized by sweatshop labor, supply chains, and large profits for the sellers. From the countries that grow the raw material for clothing, to those that produce textiles, to those that contain sweatshops, to those that are full of consumers ready to buy the next item on the shelves, this is a growing global issue that needs to be stopped in its tracks.
Fashion has been around ever since ancient times, since the time of the Romans, it survived the world wars and is yet today a business with rapid changes. Fashion started off as an art form, a way for the riches to show their social status with unique and innovative designs that only they could afford. It was a way to separate the social classes of the society. In this paper I will include the creator of haute couture, and how the following designers developed couture, as well as having leading names in today’s ready-to-wear industry. The list is long, but I chose to focus on the three most important designers of the modern fashion industry.
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
Fashion is an integrated part of people’s lives from a long time ago, both for men and women. Fashion has been developing over years and changing in such a short time in each period. The changing of fashion often create a new trend or recreate an old trend to be a new trend once again. People tend to fit their style constantly with the changing of the trend. However, fashion is a rapid industry which means people have to be very responsive to the newest and up to date trend and keep their eyes on it. To be able to do so, people must understand the fashion clothing and material which is related to trend. Also, people must have a good understanding of key elements in the clothing including the ability to focus on the
The success of fast fashion has been a hot topic in recent times. Their concept of “lip to the rack” (i.e. the design of the apparels desired by the customers to the shelves of Zara stores) disregarding the geographical distance and cultural differences enables them get an extra edge over their competitors.
... unordinary supply chain, which gives them a highly competitive advantage. They also successfully introduced a new, unique business model into the apparel manufacturing and retail industry. Zara chose to handle design, production and distribution in-house and concentrate the whole production close to their headquarters in Spain. By the entire process, Zara can react much faster than its competitors do to both the ephemeral trends in the world of fashion and the capricious tastes of its customers. They have achieved their success by thinking out of the box. Their success is directly related to their ability to understand their customer’s most innate needs and desires and tie these to successful innovation strategies, which ultimately lead to these new and unique approaches to their business.
Customers looking for retail stores that are up to date with the latest fashion trends that are selling it at a price worth the value of the product.
Fast-fashion, one of the most unspoken problems currently plaguing the United States. Yes, there is the plague of obesity, fast-food, and discrimination, but average Americans have an astute understanding of those problems.Many people wouldn’t believe there was such a thing as fast-fashion, just fashion, plain and simple. But what is fast-fashion, and what makes it so appealing? Fast-fashion is the rapidly changing styles commonly starting with celebrities than moving down the consumer chain to the average American. The appeal and falsified glory of it comes from being able to buy clothes so easily and at such an affordable cost. The prices are so low it’s making it increasingly harder for people to say no and wear the clothing that they already
Fast fashion is a term used by fashion retailers to express that designs move from runway quickly in order to capture current fashion trends. Fast fashion clothing collections are based on the most recent fashion trends from both fall and spring fashion week. This fast fashion strategy is currently used by well-known brands such as H&M, Zara, Top shop and many other brands. Fast fashion allows consumers to take advantage of current clothing styles at a lower price because fast fashion trends are designed and manufactured quickly and cheaply. However convenient aspect of fast fashion has been leading to promote consumerism since clothing had become unfashionable and not wearable quickly. Also a lot of these garments are made of unsustainable fabrics, which is a huge threat to our ecosystem. Solution for problems in fast fashion is needed.
Zara offers high fashion products which are comparable to competitors such as Raoul and Marc Jacobs, but at a more affordable rate. For example, prices start at $30 during sales peaking at over $500 for the uppermost fashion range. This allows Zara to effectively tackle its target market of individuals who are young, sensitive to prices, and motivated by new and upcoming fashion trends. Basically, Zara’s competitive advantage is because they make use of mass customization. The combination of the low volumes and high efficiency lowers the costs and fastens the production procedure. On the other hand, this aggressive approach of Zara is very risky. Despite considering themselves customer oriented, they actually do not have a lot of interaction with their customers. Moreover, the method of avoiding the segmentation of behavioural and age factors creates the opportunity for Zara to penetrate a wider range of markets. Providing a formidable quality in clothing for pric...
Zara’s business model can be broken down into three basic components: concept, capabilities, and value drivers. Zara’s fundamental concept is to maintain design, production, and distribution processes that will enable Zara to respond quickly to shifts in consumer demands. José María Castellano, CEO of Inditex stated that "the fashion world is in constant flux and is driven not by supply but by customer demand. We need to give consumers what they want, and if I go to South America or Asia to make clothes, I simply can't move fast enough." This highlights the importance of this quick response time to Zara’s operations.
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.
In today's world, it is increasingly becoming evident that nothing remains constant except for change that is taking place in different regions of the world within different cultures having different fashion. Fashion is one aspect of human being's culture that keeps on changing depending on the region individuals find themselves in. The term “fashion” is usually related with clothes and accessories, such as earrings, necklace, shoes. Presently, majority of people associate fashion with the type of things they wear. Although fashion is used as a broader concept, in the recent years it has been narrowed to apparel, accessories, and fabric.
Fashion is something that keeps on changing and because of its change, fashion effects our lives nearly in every aspect like language, furniture, homes, cars, clothes, food and many other things. There are trendsetters and trend followers with different degrees of adaptation but here the trend is a broader term pertaining to style & design, deriving from cultures, social, or many other factors of which fashion is a manifestation. Fashion has become one of the most important aspect of our life in today’s world. Fashion has become central to modern life; drives the economy, influences tastes, defines individuals and groups, mediates communication, fulfils contrasting needs and desires.