Smaller is Better in Recession
June 7th, 2009
The downturn in the economic system has made us rethink our fashion statements. been well pointed out that the recession has to a great extent affected the fashion industry. Although downturns in the economy occur once every 15-20 years, this recent one we’re experiencing is going to have a lasting impact on how we see fashion. We are living in a very practical period now. Before these pragmatic times, we delighted in the frivolity of fashion – nothing was extreme or too expensive – you could only be charged with being too dreary. Now though the fashion labels and catwalks are copping bad publicity. And now that everyone’s aware of globalization, even inexpensive fashion brands are getting a bad press for utilising sweatshops to produce their items! What went wrong? Why are the public are turning against fashion labels ?
First of all, fashion isn’t dead. In point of fact, looking on the web there is huge competition between online shop traders (e.g. looking for wholesale pashmina shawls) – a sign there is still strong demand and supply. What’s long gone is the now traditional way we considered fashion – of being dictated to by the big brands. Fashion has always followed our lifestyles instead of the other way around, and nowadays many factors are turning us off big fashion brands. For a start, young people are much more conscious of globalization, and flaunting your clothing labels makes you look selfish and thoughtless in many peer groups nowadays. Secondly, we’re hard up! Fashion has invariably been a luxury, not a necessity. In an economic downturn, non-essential items are the first to be forgotten on the shop shelves. Finally, individuals define themselves a lot more individually these days – groups of friends are a lot more tight-knit, the days of huge TV show ratings are finished, and fashion requires that sort of groupthink to trade in numbers.
How does the future look for the fashion industry? Like always, they must change to exist – create a wider range of clothing lines to supply to more corners of the market. If you’re a tiny store offering unique fashion lines at an affordable cost, you have a strong business model in spite of the dreary economic times we are experiencing. These days, individuals are fusing their styles, buying from markets and smaller, affordable fashion shops.
