How fashion online boutiques are/has affected the economy?

Online Fashion Boutique

The fashion industry is typically consumer market goods. It is distinguished by easy exit and entry, fickle consumer preferences, short product life, several competitors and infinite retail alternatives, manufacturing and marketing. Just like any other business, the powerful the fashion industry; the more cash is percolated within the society. This paper examines the economic effects of online boutique fashion.

Allenby, Greg M. “Economic Trends and Being Trendy: The Influence of Consumer Confidence                 on Retail Fashion Sales.” Journal of Business & Economic Statistics 14.1 (1996): 103.                 Print.

According to Allenby, internet marketers are looting clients from stores through the advanced technology. M-commerce has emerged in the fashion industry, totaling up to $41.68 billion last year and with an increase of 68.2% in the current year in the U.S economy. The online fashion industry has tremendously advanced due to two key factors. To begin with, the increase of fast internet connection both at homes and in businesses makes online shopping to be more interactive, faster and impressive. In the U.S for instance, there are millions of wireless connections and with over 90 million people shopping their garments online.

 

Brown, Alfred. Fashion online: retail intelligence, August 2009. London: Mintel International               Group, 2009. Print.

Secondly, the savvy online marketing giants such as Amazon.com depict a rather lucrative and stylish trend in the fashion industry. Amazon alone has generated revenue of over $61 billion revenues and as a result most retailers use it as their central enterprise to showcase their outfits. All these factors attract most people to carry out their shopping online and in one way or another; they affect the economy of the nation.

 

Entwistle, Jonathan”The Cultural Economy of Fashion Buying.” Current Sociology 54.5 (2006):                704-724. Print.

There are factors affecting the retail sale, hence it is advisable to invest so as to garner a clear understanding. During economic prosperity, the retail sales increase, while during recession, money is cautiously distributed which later impacts the retail sales negatively. Several economic factors affect retail sales, thereby acting as challenges to the online boutique shopping. It is however important to note that retail sale can also be affected positively.  The state of the economy is normally subjected to an influx pendulum whereby its growth and deadline is affected by various factors. An employment opportunity is a pivotal economic factor affecting retail sales.

 

Jones, Richard M., and Steven G. Hayes. Fashion online. Bradford, England: Emerald, 2007.                       Print.

Economy is often in a constant turmoil and growth, in which things keep varying from one state to another. These varying aspects can be attributed to marketing strategies, employment rates, technology, and population growth and tourism. These are the same factors affecting the retail sales.  Out of all these factors, technology a vital factor in the industrial retail sales. The current online shopping has resulted crisis into the retail stores. Most fashion boutiques opt for online shopping since they can do without middle men, they are spared from the marketing campaigns and personally delivers their outfits in a much more appealing and appreciative manner out of their hectic lives. Majority of the retail outlets provide added promotional codes and discount coupons on their outfits thereby increasing sales.

 

Solomon, Michal and Nancy J. Rabolt. Consumer behavior: in fashion. Upper Saddle River, N.J.:                 Pearson/Prentice Hall, 2009. Print.

Employment opportunity increase individual’s discretionary income since it gets tricky to avoid impulse buying and they can easily get a credit card debit to maintain a certain fashion trend. Financial institutions and the local bank interests are also economic factors in the fashion industry. For instance, with an increased interest rate, individuals are more cautious on their shopping habits and therefore tend to shy away from shopping. However, with decreased interest rate, individuals spent freely thereby affecting the retail sales. Also on the other hand, online shopping tags along unemployment to members of society. This is due to the fact that with online shopping, the middlemen are rendered jobless resulting to low economic input and consequently economic crisis.

 

 

 

Works Cited

Allenby, Greg M. “Economic Trends and Being Trendy: The Influence of Consumer Confidence                 on RetailFashion Sales.” Journal of Business & Economic Statistics 14.1 (1996): 103.                 Print.

Brown, Alfred. Fashion online: retail intelligence, August 2009. London: Mintel International               Group,2009. Print.

Entwistle, Jonathan”The Cultural Economy of Fashion Buying.” Current Sociology 54.5 (2006):                704-724. Print.

Jones, Richard M., and Steven G. Hayes. Fashion online. Bradford, England: Emerald, 2007.                       Print.

Solomon, Michal and Nancy J. Rabolt. Consumer behavior: in fashion. Upper Saddle River, N.J.:                 Pearson/Prentice Hall, 2009. Print.