smart start what is the difference between fashion/commodity/seasonal products?

Smart Start

• What is the difference between fashion/commodity/seasonal products?

Commodity

• Staple goods

• Hardly ever change in design

• In constant demand

• Sales are predictable/always stocked in retail stores

• Continually produced in regular amounts (mass produced)– Cotton/polyester blend fabric– Men’s white business shirts

Fashion Products

• Always changing

• Fashions must be predicted so that retailers can be prepared for demand and sales at a particular time in the market

• Companies are always scrambling to supply the right fashions at the right time to make a profit

• Great deal of style and timing risk for companies that deal with fashion merchandise– Buyers of fashion merchandise

Seasonal Products

• Change in popularity and demand with the seasons of the year

• Include both fashion and commodity items– Shorts, swimsuits, beach towels– Gloves, coats, sweaters

Identify the scope and importance of the fashion industry to our

economy.

Substance of the Fashion Industry

The Fashion Industry’s Impact on the U.S. Economy

• Fourth leading employer in the U.S.

• Apparel industry– Over $20 billion in annual

sales– Employs over 1 million

people

U.S. Apparel Industry

Womenswear

Menswear

Infants and children

Accessories

The Womenswear Industry• Womenswear: All apparel worn by

females aged 14 and over.• Largest and most important retail segment• More than 60% of all apparel sales• Employs hundreds of thousands of people• Ranges from small family-owned

businesses to large multi-million dollar corporations

Menswear Industry

• Menswear: All apparel for males aged 17 and over.

• Produces billions of dollars worth of merchandise each year in plants throughout the world

• Changes slowly, but interest and demand continue to grow

• Sportswear is the fastest growing segment.

Infants’ and Children's Apparel Industry

• Infants’ apparel: Apparel for babies and toddlers younger than 3 years of age.

• Children’s apparel: Clothing for girls ages 3 through 13 and boys ages 3 through 16.

• Becoming increasingly important to economy • One of the more stable divisions due to increased

demand for children's fashions in general. Better children's garments include designer labels such as Ralph Lauren.

The Accessories Industry

• Accessories: The articles added to complete or enhance outfits.

• Viewed as impulse items that bring additional revenues to companies

• Experienced a boost due to licensing agreements

• Extend a consumer’s wardrobe; especially important in poor economic times

Activity

• Research what you predict to be popular this fall/winter for each segment of the apparel industry.

• Create a board in polyvore or use PowerPoint to create a visual.

• Show Source for each item. Include whether it is a commodity, seasonal, or fashion item.

Womenswear

Menswear

Infants and children

Accessories

Other Textile End-Use Industries

• Commercially-produced wearing apparel is not the only end use for textiles…

• Other markets include household or home furnishings products, industrial textile products, and the home sewing industry.

The Household Industry

• Accounts for 40% of all textile products• Average product lifespan is 10 years.• Colors and patterns slower to change

than in apparel

The Household Industry (cont.)

• Floor coverings division– Carpeting– Area rugs, oriental rugs, and throw rugs

• Home furnishings division– Window treatments– Furniture– Miscellaneous items

• Domestics division– Bed linens– Bathroom items– Table and

kitchen linens

Four Major Segments Of The Fashion Industry

Textile segment

Apparel manufacturing segment

Retail segment

Auxiliary group

Textile Segment

Textile segment: The initial segment in the fashion process.

• Steps include:– Fiber production– Yarn production– Fabric manufacturing– Fabric finishing

Fiber Production- Textile Segment

• Fibers are very thin, hair-like strands than can be short or long

• They are the basic units in making textile products

• Originate from naturally grown sources or chemical mixtures

Yarn Production

• Yarns are continuous strands of textile fibers in a form suitable for processing into fabrics

• They are formed by spinning, or twisting fibers together in yarn mills

Fabric Manufacturing

• Done at textile mills

• The mills weave, knit, or join yarns into fabrics

• At this point, the fabric is in an unfinished state (greige goods)

Fabric Finishing

• Bleaching, dyeing, printing or applying special coatings to the greige goods

• This process imparts color, texture, pattern, ease of care and other characteristics to fabrics

Apparel Manufacturing Segment

Apparel manufacturing segment: That part of the fashion industry that produces finished garments and accessories. • Functions of the apparel segment include:

– Designing– Manufacturing– Apparel selling

Retail Segment

Retail segment: The part of the fashion industry that includes selling merchandise directly to consumers.

– Buying from the manufacturer or wholesaler

– Selling to the consumer

Auxiliary Group

Auxiliary group: Individuals and groups of individuals that support and function simultaneously with the retail, apparel manufacturing, and textile segments of the fashion industry.

Auxiliary Group (cont.)

– Consultants: Researchers and forecasters who provide information about colors and other trends that are occurring the consumer marketplace.

– Advertisers: Individuals who, by visiting fashion markets and showings, produce and disseminate the latest fashion information to educate both consumers and working members of the fashion industry.

– Promoters: Trade associations, trade publications, models, modeling agencies, photographers, and others that play a part in promoting the merchandise.