Fundamentals of fashion

MerchandisingUnderstanding Fashion,

Merchandising,Merchandise Management of Retail, Export

& Buying House.

Fashion

Fashion Accepted by a substantial group of people

at a given time , in a given place.

Understanding Fashion Movement

Fashion movement is the ongoing change in what is considered fashionable from acceptance to obsolescence (the rejection of a fashion in favor of a new one)

A fashion trend is the direction fashion is moving

OBSOLETE

The fashion cycle

• Fashion cycle: The ongoing introduction, rise, peak, decline, and obsolescence in popularity of specific styles or shapes.

• All styles that come into fashion rotate through the fashion cycle.

• Fashion acceptance can be illustrated using a bell-shaped curve.

Overall Fashion Cycle Variations . . . From Flop to Classic

The Fashion Cycle

IntroductionNew style is introduced (colors and textures)

RiseSlowly increases in popularity

DeclineDecreases in popularity (saturation)

ObsolescenceDiscarded for a newer style

PeakHeight of popularity; Worn by the majority of people (culmination)

ALSO KNOWN AS THE MERCHANDISE ACCEPTANCE CURVE

The fashion cycle (cont.)

• The cycles for some styles are exceptions to the bell-shaped curve.• Flops: Fashions that are introduced and expected to sell but

that are not accepted by consumers.• Fads: Temporary, passing fashions that have great appeal to

many people for a short period of time; styles that gain and lose popularity quickly.

• Classics: Styles that continue to be popular over an extended period of time even though fashion changes; styles that remain in fashion year after year.

Kurtis

Skirts

Fashion Classics

Fashion Fads

Cycle within Cycles

Recurring Cyclic Fashions

PLAT FORMS SHOESHOTPANTS

Stages of the fashion cycle (cont.)

Introduction: The first stage of the fashion cycle when new styles, colors, textures, and fabrics are introduced.

The new style may be accepted by a small number of people called fashion leaders.

Promotional activities include fashion shows and advertising in high fashion magazines.

Fashions are produced in small quantities at high prices. Retail buyers purchase limited numbers to see if the style

will be accepted.

Stages of the fashion cycle (cont.)

Rise: The second stage of the fashion cycle when consumer interest grows and the fashion becomes more readily accepted by consumers.

Mass production brings down the price of the fashion, which results in more sales.

Styles are manufactured in less expensive materials and in lower quality construction than the original style.

Promotional efforts are increased in high fashion magazines to heighten consumer awareness.

Retail buyers order items in quantity.

Stages of the fashion cycle (cont.)

Peak (Culmination stage): The third stage of the fashion cycle during which a style is at its height of popularity.

The fashion is demanded by almost everyone because it is now within the price range of most consumers and is mass produced in many variations.

Each retailer tries to persuade customers that its version of the style is the best.

Stages of the fashion cycle (cont.)Peak (Culmination stage)

The style may have a long or short stay at this stage. Short-run fashions: Styles that are popular for a brief period

of time. Fads, usually lasting only one season Accepted and rejected quickly Teenagers’ fashions change the fastest and have the most

trends. Styles are easy for the manufacturer to produce and are

relatively inexpensive to the consumer. Styles typically have more details than seen in classics.

Stages of the fashion cycle (cont.)Peak (Culmination stage)

Long-run fashions: Styles that take a long time to complete the fashion cycle.

Classics, basics, and/or staple fashions Slow introduction, long peak, slow decline Styles have simple lines, minimal detail.

Stages of the fashion cycle (cont.)

Decline: The fourth stage of the fashion cycle when the market is saturated and popularity decreases.

The fashion is overused and becomes dull and boring.

As the fashion decreases in popularity, retailers mark down their prices.

Promotions center around major clearance or closeout sales of the fashion.

Stages of the fashion cycle (cont.)

Obsolescence: The fifth stage of the fashion cycle when the style is rejected, is undesirable at any price, is no longer worn, and is no longer produced.

Lengths of fashion cycles Cycles have no specific lengths. Recurring fashions: Styles which have been in

fashion at one time, gone out of fashion, and come back in fashion again. Fashion trends seem to recur about every generation or

every 20 to 30 years. Fashion cycles are less distinct now than in the

past.

Theories of Fashion Movement

TRICKLE UP TRICKLE ACROSS

TRICKLE DOWN

Fashion trends start at the top of the “social ladder”

Fashion trends start with the young or lower income groups

Fashion moves horizontally through similar social levels

Lower $

Higher $ Royalty Rich

White collar

Blue collar

Trickle-Down Theory18th-19th Century

Source of fashion ideas designers catered

to wealthy Fashion leaders

highly visible elite served as models for lower class

Direction down from elite

class to working class

Change of speed how quickly the

lower class could obtain and copy the elite

Dynamics of change drive for

differentiation and imitation

Mass Market Trickle-Across Essentials

Mass production Newest looks available

quickly Fast-paced

communication and mass media Style information

available to all at same time

Each social group has own fashion leaders

Trickle-Up Theory

Starts with young trendsetters

May be lower income groups

Fashion defined by street wear

Examples may include: Tattooing, body piercing,

“grunge” looks

1960’s Trickle-Across Within group at similar social level Vietnam Civil rights Integration Mass communication Mass media Growing middle class Availability of quick, easy knockoffs Mass production makes fashion

available at all price levels

Merchandise

Types of Merchandise Staple Goods – items that are constantly in

demand by customers. Examples are toothpaste, milk, or bread. Used consistently and replaced on a regular basis Sales are easily predictable because they are bought on

a consistent basis. Convenience Goods – small, inexpensive items

that customers purchase frequently. Examples are gum, bottled water, or magazines. Found in convenience stores, grocery stores or gas

stations.

Fashion Goods – items that are popular at a certain time. An example is clothing. Includes any item that comes in or out of style Retailer will maximize sales by acquiring the

product as it is gaining popularity Seasonal Goods – products that are

popular only at a certain time of year. Examples are swimsuits, boxed chocolates, or snow skis.

The Merchandise Mix Businesses must pay close attention to

their target market and must obtain, develop, maintain, and continually improve upon their merchandise mix. Components of the Mix

Merchandise Mix – made up of all the products that a business sells

Product Line – a group of closely related products that a business sells

Product Items – the products that make up a product line. A specific model or brand

Types of Merchandise Merchandise Mix Strategies

Development – develop new products to bolster the company’s image or to expand their market share.

Expansion – businesses can choose to add either new product items or new product lines.

Modification – altering a company’s existing product.

Deletion – may occur when a product is no longer useful, obsolete, not fashionable, or room is needed for another product.