The Fashion Industry: Big Brand V Boutique
The downturn in the economic system has given us all a fashion rethink. been well commented that the downturn in the economy has to a great extent had a negative affect on the fashion industry. Although recessions come and go, this current one we’re experiencing is going to have a lasting impression on what we think of fashion. We are living in a very pragmatic age these days. Prior to these practical days we’re now living in, we revelled in the decadance of fashion - nothing was excessive or too expensive - you could only be charged with being too dreary. Now though the fashion labels and catwalks are receiving bad publicity. And now that everyone’s conscious of globalisation, even bargain-priced labels are getting flak for employing sweatshops to manufacture their goods! Is it that everyone has become so unbelievably difficult to please now?
Not at all. People need fashion, and forever will. It is burned into our minds to spot trends! As a matter of fact, looking on the web there is ample rivalry between online fashion traders (e.g. searching for jewellery and fashion accessories) - a signal there is still a great demand for fashion. What’s long gone is the now traditional way we thought about fashion - being told what’s now trendy by the established fashiong brands. Actually, fashion has always followed the public rather than vice versa, and nowadays many issues are turning us off big fashion labels. For a start, people are now very much more mindful of globalization, and showing off your fashion labels makes you look egotistical and uncaring in certain circles. Second, we’re bust! Style has invariably been a luxury, not an essential. In a recession, luxury items are the first to be forgotten on the store shelves. Finally, people define themselves much more individually nowadays -we don’t need to be told what to wear or how to act, the days of huge TV show ratings are over, and fashion needs that sort of sheep-like thinking to trade in large amounts.
So what does this mean for fashion labels? As ever, they must adapt to exist - create a larger range of fashion lines to supply to more corners of the marketplace. If you’re a small store offering individual fashion lines at an affordable cost, the future looks bright for you despite the dismal economic days we are in. These days, people are fusing their styles, buying from marketplaces and more personal, affordable fashion stores.
