Janine Daruwalla

As well as a form of expressment, fashion is a business and therefore profit has a huge impact on the industry. Profit ensures longevity of a business since without profit, companies cannot sustain themselves in the long run. An example of this is fast fashion brand Top-Shoop, a major highstreet retailer which crashed due to an explosion of competition (Anon, 2021) and in turn led to not making enough profit to keep the company going.

(image 1: Coughlan,2021)

The fashion industry is significant. It is built up of various sectors such as apparel, accessories, footwear and textiles and it is said that one in eight people globally work within or have some link to the fashion industry. (Co-Data, 2018). The fashion industry statistics show the apparel and textile sector is the fourth biggest in the world. (Vilaka, 2022). The global fashion industry was valued at roughly 2.5 trillion dollars in 2019, ranging from fast fashion to luxury brands. Luxury brands can be used as a wide umbrella term since each individual has a very personal unique view of what luxury is”. (Mitterfellner, 2023). 

 This rise of e-commerce left Apparel retail such as highstreet shops facing challenges. To add to this, many fast fashion brands were facing increased scrutiny for ethical concerns and therefore the Apparel retail sector is slowly decreasing.  

Various sectors of the fashion industry perform differently dependending on a range of factors such as political factors like the current economic conditions, consumer preferences/trends and technological advancements. A large chunk of the fashion industry is dominated by ecommerce. This sector has been experiencing rapid growth. More consumers are shopping online for convenience and more choice. This was further accelerated by the Covid Pandemic.

(image 2,2020)

It is important brands remain competitive in the fashion industry during uncertain economic times. This requires strategic planning from brands, knowledge of consumer behaviour and trends and openness to adaptability. Brands should heavily focus on sustainability to remain competitive, this sets them aside from most highstreet brands using unethical materials and practices. Many consumers are increasingly environmentally cautious, especially Gen Z, sustainable practices in brands can attract this demographic. 

Creative directors play an important role in bridging the gap between creativity and commerce within the fashion industry. They balance out artistic visions with market demands and trends. This is done by market research and diving deep into competitors tactics. As well as this, it is vital creative directors understand their target demographic in order to fully get the best outcome out of creative approaches. 

References

Anon (2021). The rise and fall of Topshop. [online] TFR. Available at: https://tfr.news/news/2021/7/21/the-rise-and-fall-of-topshop.

Image 1: ‌Coughlan, S. (2021). Topshop: What happened after the shutters closed? BBC News. [online] 1 Mar. Available at: https://www.bbc.co.uk/news/uk-56204469.

Vilaça, J. (2022). Fashion Industry Statistics: The 4th Biggest Sector Is More Than Clothing. [online] Fashinnovation. Available at: https://fashinnovation.nyc/fashion-industry-statistics/.

Mitterfellner, O. (2023). Luxury Fashion Brand Management and Sustainability. Mastering Fashion Management.

‌co data (2018). Faces and Figures: Who Makes Our Clothes? [online] Common Objective. Available at: https://www.commonobjective.co/article/faces-and-figures-who-makes-our-clothes#:~:text=The%20global%20workforce%20is%20estimated.

Image 2: Estay, B. (2020). 16 Fascinating Online Shopping Statistics (2020). [online] The BigCommerce Blog. Available at: https://www.bigcommerce.com/blog/online-shopping-statistics/.

The fashion industry is extremely vast and diverse, it holds a wide range of people professionals contributing to design, production marketing and sales which in turn creates consumers.

Anyone born between 1997 and 2012 is considered to be a part of Generation Z. They take up 25% of the global population and have grown up in a world immersed in digital technology and social media.  In fashion Gen Z tends to have different and distinct preferences which are shaping the wider industry.  For example they have a strong social and E-commerce dominance. Social media plays a significant role in many shopping habits for gen z since many trends begin on platforms such as tiktok and instagram. Gen Z heavily relies on online shopping and primarily enjoy the convenience of shopping from home as well as are inclined to the wider variety of options. (Aitkin, 2021)

In order for brands to attract Gen Z, they should take an authentic approach. This demographic values inclusivity as well as social responsibility. For example, Gen Z are the main consumer for second hand clothes since ‘vintage’ clothing has become a major trend. As a result of this, the generation is more in touch with sustainability. More brands could use ethical practices and environmentally friendly materials in order to attract Gen Z.

Brands should also tap into promoting diversity in their marketing campaigns.  Most brands have taken time for critical reflection and have admitted they must do more to improve diversity. (Rush, 2022). One notable example of a fashion brand responding to diversity is Nike, they have made significant efforts in order to embrace diversity and inclusivity through marketing campaigns which celebrate empowerment. For example their “dream crazier” campaign which featured female athletes challenging stereotypes and opening up their target demographic. As well as marketing campaigns, Nike also highlights diversity through their retail spaces. Bigger stores feature plus sized mannequins, disabled mannequins as well as a variety of different shaped mannequins, this showcases a commitment to represent a broader range of body types and abilities. (Nike, 2023)

Brands should build and maintain relationships with their consumers, relying on creative,  technical and people skills to thrive. (Cunningham, 2019) Brands must be open minded and constantly adapting in order to keep customers engaged in an ever changing society. They must stay up to date with market trends and the fashion industry’s development. 

Bibliography: 

Kelly Aitken – ‌Aitkin, K. (2021). What are Gen Z’s Biggest eCommerce Personalisation Needs? | Articles. [online] Salesfire. Available at: https://www.salesfire.co.uk/articles/generation-zs-biggest-ecommerce-needs/.

Erin Cunningham – Glossy. (2019). Glossy Research: How fashion brands can stay relevant in retail. [online] Available at: https://www.glossy.co/fashion/glossy-research-how-fashion-brands-can-stay-relevant-in-retail/ [Accessed 15 Oct. 2023].

‌Caroline Rush –  www.british fashion council.co.uk. (2022). British Fashion Council. [online] https://www.britishfashioncouncil.co.uk/uploads/files/1/J037890%20MBS%20Diversity%20in%20Fashion%5B40%5D.pdf.

Nike (2023). – Diversity, Equity & Inclusion. [online] Nike.com. Available  at:https://about.nike.com/en/impact/focus-areas/diversity-equity-inclusion.

Dazed (2019). – Nike unveils plus-size mannequins in new dedicated women’s space. [online] Dazed. Available at: https://www.dazeddigital.com/fashion/article/44751/1/nike-town-plus-size-mannequin-womens-space-london-diversity-representation.

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The ‘Planet’ Pillar is the concept of sustainability in the fashion industry. The 1.7 trillion dollar industry (Ariella, 2023) is responsible for one of the largest negative impacts on global pollution and climate change.  This applies in all stages of the development of fashion from raw materials to distribution and eventually consumption. It is no secret to society that many conventional norms and traditions in the fashion industry are widely harmful to our planet. 

Circular economy : 

The concept of the circular economy in fashion is where our clothing is produced with a heightened level of consideration to our planet. This system “emphasizes the value of using a product right to the end”, and then repurposing it.  (Hill, 2022) One brand that actively and  positively does this is Patrick McDowell, creating ready to wear garments which clients can send back to the brand to be reworked into something new – regenerating nature and circulating products. This focuses on the longevity of garments. A wide, contemporary example of this is the boom of second hand websites such as depop and vinted. Many people are reworking and reselling clothes which in turn is eliminating waste and pollution. This is a market that is rapidly growing and trending in younger generations but the biggest barrier to growth is the taboo many people hold that surrounds rewearing new clothing. (Cook,2023)

Sustainability & STG’s :

The book ‘Why fashion matters’ places heavy emphasis on the fact that society’s focus is predominantly on the ‘carbon footprint’ when discussing the negative effects on the fashion industry. (Corner, 2014) However, it is imperative that we look into more contributions of why the fashion industry is harming our planet. Fashion contributes to 20% of global water waste and The UN is consequently aiming to work with the industry to ‘maximize action impact’ and enhance water conservation. The United Nations Water Development report states staggering 2 billion people lack access to clean drinking water and therefore it is crucial brands implement measures that promote more efficient utilization of water. Companies such as H&M have recognised their role in water pollution and have enforced solutions to reduce their water use in their manufacturing process. However, some individuals hold the belief that this is a greenwashing campaign to appease customers. (Bandera, 2022). As well as the industry being the second largest consumer of water, it also has a huge impact on water pollution. Meanwhile, this water pollution causes a significant challenge to human health in many countries, an issue which must be tackled. (United Nations). 

Bibliography :

Ariella, S. (2022). 28 Dazzling Fashion Industry Statistics [2022] – Zippia. [online] 

Zippia.com. Available at: https://www.zippia.com/advice/fashion-industry-statistics/.

Bandera, G. (2022). How the fashion industry pollutes our water. [online] FairPlanet. Available at: https://www.fairplanet.org/story/how-the-fashion-industry-pollutes-our-water/.

Cook, J. (2023). Second-Hand Fashion: On The Rise But Will It Save The Environment? – Business Leader News. [online] Business Leader. Available at: https://www.businessleader.co.uk/second-hand-fashion-on-the-rise-but-will-it-save-environment/.

Corner, F. (2014). Why fashion matters. London: Thames & Hudson.

‌‌Hill, M. (2022). What is Circular Fashion? [online] Good On You. Available at: https://goodonyou.eco/what-is-circular-fashion/.

United Nations (2020). Goal 6: Ensure access to water and sanitation for all. [online] United Nations Sustainable Development. Available at: https://www.un.org/sustainabledevelopment/water-and-sanitation/.

Corteiz is currently one of the most innovative and upcoming streetwear brands, overcoming and replacing brands such as Palace and Supreme in the media. Many young people can be inspired by the designer, Clint, as he started this now million pound brand from his bedroom in London. The appeal of this brand to young people is its exclusivity, instead of a typical online shopping or in store approach, corteiz make their products hard to source through using a locked website of which only members can access, as well as doing seasonal drops for 24 hours as opposed to having their products available to buy at anytime. Their creative way of marketing creates hype around the brand and makes people proud to own the brands clothes.

Its unique logo featuring Alcatraz Island and the tagline “Rules The World” has caught the attention of public figures such as Drake, Central Cee, Dave, Jorja Smith, and Stormzy, all of whom have been spotted wearing the brand. Instead of paying these celebrities to wear these clothes like many brands using influencers, the celebrities buy and wear the clothes because they find them fashionable just like the general consumers, this promotes the business in an organic and authentic way, encouraging more people to buy the garments, especially because the celebrities wearing the clothes match the target market for the brand.

The brand is extremely inspiring since it was a university based project and has since become one of the most sought after brands in the UK, partnering with brands such as Nike.