Fashion Industry
Introduction
The fashion industry has turned out to be one of the most dynamic sectors. The industry mainly deals with wears and accessories. Accordingly, women have proven to exhibit more prominence in the industry as compared to men because they have a variety of designs, which are ever changing. Consequently, a majority of retailers have been struggling to keep the pace of the frequently changing industry. As a result of the changing trends, designers do not benefit much from new designs because of the speed at which the designs change. For that reason, there is need for designers to be conversant on the existing trends in the market, the rate at which trends change, and the approaches that will increase their competitive advantage in the market. Numerous mechanisms can be put in place to enable fashion designers and retailers persist the rapidly changing fashion environment. This is so since it is not possible to slow down the fashion industry, which is already growing immeasurably. There are several strategies that retailers can institute to cope with the current trends in the market. The most sustainable approach to assist the designers and retailers survive the industry include developing strong relationships with the buyers. Despite the fact that that many designers and retailers do not see the need for adapting to the changing trend in the fashion industry, designers need to study certain trends that repeat themselves in order to be able to predict both the present and future fashions in the industry, developing strong ties with the buyers, studying repetitive trends, use of social media, avoid unhealthy competition and strive to be unique.
Developing Strong Relationships with the Buyers
One of the strategies that seem to be working for designers is developing strong relationships with the buyers. A strong relationship enables designers to understand the needs of the consumers and design products that satisfy the existing demands. More so, when designers are closely allied to their customers, they will know when their tastes and preferences change (Skov & Marie 15).
Studying Repetitive Trends
Designers need to study certain trends that keep repeating themselves in order to predict both the present and future fashion. However, this may require a lot of experience. As a result, the strategy may not be suitable for new designers in the industry because they need to have in the market for some while to understand the trends that have been in the industry. Alternatively, new designers can do a research to establish the trends that have been there in the past.
Use of social media to test products
The social media has become quite useful for the designers because it provides a platform where the products can be tested before being released into the market (Mohr 19). Through the social media, designers can communicate directly to the consumers and ask for their opinion before launching a particular design. The feedback obtained can then be used to design the fashion based on the consumer preferences and tastes. For instance, the use of Instagram, Facebook, and Twitter by celebrities to promote certain brands shows that social media is important in leveraging marketing in the fashion sector.
Avoid unhealthy competition
Many companies are struggling in the fashion market due to unhealthy competition. With the recent increase in the number of players in the fashion market, there is need to ensure that designers do not engage in detrimental activities in the name of competing with their fellow designers. To deal with competition effectively, fashion companies should analyze their market and work with the end goal of satisfying their customers (Aspers 190).
Designers should strive to be unique
Uniqueness is imperative in the fashion industry. Alternatively, one can always strive to be the first one in the market to introduce a unique design (Skov & Melchior 4). This is what has driven affluent individuals into hiring personal designers at very high fees. This value is reflected too in the billions that are used every passing year in the fashion sector. The needs of the consumers are changing every passing year, and these companies have to keep on realigning their strategies in order to keep satisfying their client (Bhardwaj & Fairhurst 168). Proper use of technology can be very helpful in the handling of competition in fashion market (Brook-Carter & Parsons 7).
Conclusion
The fashion industry remains one of the fast changing and sensational industry globally. The industry boasts of a large number of designers and retailers who enjoy the appeal and eminence. Consequently, the competition in the industry has become stiff hence making some organizations to underperform. Furthermore, the needs of consumers in the industry, particularly women are fast changing every single day, which necessitate the need for consumers to also change. Examining the approaches that will enable retailers and designers to survive in the industry, it is significant that retailers and designers adopt the approaches to enable them increase their competitive advantage in the market.
Works Cited
Aspers, P. “Using Design for Upgrading in The Fashion Industry”. Journal of Economic Geography 10.2 (2009): 189-207.
Bhardwaj, Vertica and Ann Fairhurst. “Fast Fashion: Response to Changes in The Fashion Industry”. The International Review of Retail, Distribution and Consumer Research 20.1 (2010): 165-173. Web.
Brook-Carter, Chris and Scott Parsons. Fashion Retail 2014. 1st ed. 2014. Print.
Mohr, Iris. “The Impact of Social Media on the Fashion Industry”. The Journal of Applied Business and Economics 15.2 (2013): 17-22.
Skov and Marie Riegels Melchior. “Research Approaches to the Study of Dress and Fashion”. Berg Encyclopedia of World Dress and Fashion 10 (2010): 1-18.