Fashion Industry and the Recession
The recession has given us all a fashion rethink. It’s already been well pointed out that the downturn in the economy has to a great extent had a negative affect on the fashion industry. Although recessions are nothing new, this recent recession we’re in is going to have a chronic effect on how we see fashion. We are living in a very pragmatic age now. It used to be that frivolousness and decadance were part and parcel of the fashion industry – there was no such thing as too outrageous or too pricy. – you could only be charged with being too dreary. Not so today though : the fashion labels and catwalks are receiving a bad press. And since everyone’s conscious of globalization, even affordable brands are receiving a bad press for utilizing sweatshops to make their garments! Is it that everyone has become so unbelievably hard to please?
Not at all. We humans need fashion, and forever will. It is burned into our pysche to spot trends! As a matter of fact, looking on the internet there is ample competition between online fashion sellers (e.g. searching for wholesale necklaces and jewellery) – a sign there is still a great demand for fashion. What’s dying out is the old-school way we thought about fashion – being told what’s now stylish by the established fashiong brands. Fashion has always followed our lifestyles instead of the other way around, and today many matters are turning us off big labels. First Off, people are much more mindful of globalization, and showing off your clothing labels makes you look egotistical and inconsiderate in certain circles. Secondly, we’re hard up! Fashion has invariably been a luxury, not an essential. In an economic downturn, luxury items get hit the hardest. Finally, people express themselves a lot more individually these days -we don’t want to be ordered how to act or what to wear, the era of huge TV show ratings are over, and fashion needs that kind of sheep-like thinking to sell in numbers.
What is the future for fashion brands? As ever, they need to change to survive – create a wider range of fashion lines to cater to more niches of the marketplace. If you’re a small shop selling unique fashion lines at a cheap price, the future looks bright for you despite the subdued economic times we are in. These days, people are mixing their styles, buying from markets and more personal, bargain-priced fashion stores.
