THE MOVEMENT OF FASHION

UNIT 2

Fashion Cycle: The rise, widespread popularity and then decline in acceptance of a style

Fashion cycles are like waves: Some are short; some are long.

Success is being able to recognize and predict the different stages

INTRODUCTION STAGE: New styles must be priced high enough so that those that succeed can cover the losses on those that don’t succeed.

Buyers purchase a limited amount.

RISE STAGE: The design is accepted by an increasing number of customers.

Fashion buyers reorder in quantity for maximum store coverage.

During rise stage, retailers will offer line for line copies or knockoffs.

Line for line copies or knockoffs – copying of an item at a lower price.

Adaptations – designs that have all the dominant features of the style that inspired them, but do not claim to be exact copies.

Faux – FakeFaux pearls, faux fur

CULMINATION STAGE – Plateau stage – A fashion is at the height of its popularity. At this stage the fashion can be mass-produced, mass-distributed and sold at reasonable prices.

The culmination stage can be extended if fashion becomes accepted as a classic or if new details of design, color or texture are continually introduced.

Ex: Running Shoes

DECLINE STAGE – The decrease in consumer demand because of boredom resulting from widespread use of a fashion.

Production slows; markdowns

LENGTHS OF FASHION CYCLESDeclines are fast, and a drop to obsolescence is almost always steeper than a rise to culmination.

OBSOLESCENCE STAGE – When strong distaste for a style has set in and it can no longer be sold at any price.“YOU CAN’T GIVE IT AWAY”

More new fashions are always ready to push existing ones out of the way. Fashion cycles are becoming shorter and shorter.

In Trendy World Of Fast Fashion, Styles Aren't Made To Last

The normal flow of a fashion cycle can be broken or interrupted by outside influences. Ex. Unpredictable weather, war, Depression.

The cycle can resume when outside influences disappear.

Ex. Availability of man-made fibers was interrupted by petroleum shortages in 1973.

WHEN FASHION IS IN A CYCLE BREAK, INTEREST IN COSMETICS USUALLY PICKS UP.

Long-run fashions: a fashion that takes more seasons to complete its cycle than what might be considered its average life expectancy.

Short- run fashions: a fashion that takes fewer seasons to complete its cycle than what might be considered its average life expectancy.

Fashion Trends of 2009

http://www.wsj.com/articles/SB10001424052748704869304574596251783557242

CONSUMER BUYING CYCLE AND CONSUMER USE CYCLE

Both the consumer buying and consumer use cycles tend to rise at an equal rate, but once a fashion has reached its peak, the consumer buying cycle declines much faster than does the consumer use cycle.

BusinessIs Denim On The Decline? Jean Makers See Sharp Drop In Sales

http://sanfrancisco.cbslocal.com/2014/08/12/is-denim-on-the-decline-jean-makers-see-sharp-drop-in-sales-pants

Consumers are still wearing fashions even though stores are not longer stocking them

Ex. Swimwear is no longer in stores in August, however, consumers are still using them.

If managers see the buying cycle begin to drop, they must take immediate steps to reduce stock with early and deep markdowns.

ACCELERATING FACTORS THAT SPEED UP A FASHION CYCLE:• Increased buying power• Increase leisure• More education• Improved status of women• Technological advances• Sales Promotion• The changes of seasons

Increased buying power – There are more people with money to flock to a new fashion reaching culmination stage quicker.

Increased Leisure – more time to buy and enjoy fashions such as casual clothes, sports apparel, travel clothes.

More Education – more educated people are earning more money to buy more fashions

Improved status of women – more women in the workplace earning income to buy more fashions.

Technological Advances – New fibers and materials are improving qualities.

Computer technology has improved production keeping prices down, therefore, more people can buy.

Sales Promotion – sales promotion can help speed up acceptance by telling and showing people that fashion exists.

Seasonal Change – as the seasons change, so does consumer demand

RETARDING FACTORS THAT SLOW DOWN FASHION CYCLES:

• Habit and Custom

• Sumptuary Laws

• Nature of the Merchandise

• Reductions in Buying Power

Habit and Custom • Habit is a loyalty to an established style slowing

fashion cycle.

• Customs continue keeping past fashions in modern dress.

They are on the left side for women who tend to hold babies on their left side and can conveniently use the right hand for buttons.

Sumptuary laws • Laws that regulate what we can and cannot

purchase.

Ex. Children’s sleepwear must be flame-retardant.

Nature of the Merchandise• Men’s fashion cycles move more slowly

than women’s

Reductions in Consumer’s Buying Power• People make do with clothing they have, buying

only necessities.

• Men’s fashions have been designed to emphasize such attributes as strength, power, bravery, and high social rank.

•Women’s fashions have tended to concentrate mainly on different ways to convey sexual appealErogenous – portions of the body that are newly exposed. Ex. legs

Predicting the movement of fashion trends

1.Distinguish what the current fashion trends are. Fashion trend – a direction in which fashion is moving

2.Estimate how widespread they are.

3.Determine when these fashions will appeal to the firm’s target customer groups.Fashion forecasters keep a sharp watch for prophetic styles.

Prophetic styles – new styles that are still in the interesting introductory phase of the fashion cycle.

The 7 biggest trends from New York Fashion Week fall 2015

http://www.aol.com/article/2015/02/19/the-7-biggest-trends-from-new-york-fashion-week-fall-2015/21144690/

4.Collect data: sales by price, style and color

5.Observe what people are wearing