The fashion industry can be a blessing or a curse to those who venture into it. The risks have been more rapid due to the fashion trend shifts that are emerging regularly. These consumer shifts are brought about by a number of issues that only the strong brands like Stylecaret can survive in. E-commerce adaptation is the main cause of the fashion trends alternating shifts and it is also boosted by social and potential disruption. The current youth group has also influenced the trends by expressing the need to be heard and embraced with their current times. The following are some of the trends that are currently on the rise in the fashion industry.
The Indian influence
India is among the major economic giants in the world. Their diverse culture and increased urbanization have increased their manufacturing potential and made their apparel industry grow more than 40 % in recent years. Being known for their cultural saree clothes for almost all the occasions have made them more popular. Therefore, due to the growth of the internet and increased middle-income levels. The Indian entrepreneurs have ensured they embrace the western modes of dressing to their industry especially women and children. India has been growing at a rate of 8% per year and this trend allows it to be embraced by the worlds fashion industry. They have also been able to diverse by adapting other fashion trends globally.
Another trend defining the fashion industry is the trade talks that are influenced by politics and policies. These trade dynamic shifts make trade border shifts among the fashion giants with comparison to the USA. These shifts influence how pricing and sourcing in the industry will be in the next year. The trend of trade-related forces has influenced how sourcing from fashion giants will improve the fashion industry through trade agreements that are held yearly. This is between Asia and Pacific countries that are now experiencing a fast fashion and are finding new ways to be able to maintain the speed of delivery and finding other ways to produce quality apparel.
No more ownership
This has been brought about by growing consumer desire globally. The fast fashion might shift its doors to the resale market that is set to go higher in the next 8-10 years. In addition, the trend has brought about new startups that have a mix and match of different brands and designs in the market. The current owners of brands are also trying to improve on new models to be able to keep up with the tagging consumer shift so as to remain relevant. The end of ownership has been driven by consumer desire, affordability and sustainable clothing.
Next up, is a trend that has been pushed forward by the established technology leaders. They have shown the need for speed and convenience in everything. This has made the consumer have high expectations in the fashion industry as well. Technology giants search as Amazon, Netflix and Uber among others through their Apps have created a need of now or never to serving their consumer satisfaction. This trend has, in fact, created an expectation to the consumer of getting things fast and the psyche is increasing by the day. They may not be fashion giants but the customer ready niche they have created is leading on other consumers. The results of these technologies will lead to both offensive and defensive outcomes in the fashion industry.
Environmental and social implications have ensured that through the young consumer there is a shift of focus on staying ‘woke’. This trend has been brought about by the young consumer demanding a certain type of brand that is at par with their beliefs and values. Mainly, the trend prefers brands that are defining the current times. Some designers have already embraced the movement and are designing clothes out of organic cotton and other eco-friendly materials. Although this trend has not fully been embraced due to the risks and consequences the policy benefits are significant and worthwhile.
Economic cycle shift
There is caution ahead of this trend due to the economic cycle turns in the industry. The priorities of the fashion industry have shifted to improving productivity. This is brought due to the constant periods of focusing on the growth of the fashion industry. In regards to how the fashion industry shifts with no warning. Entrepreneurs in this field are being advised to put in place measures that will enable them to adhere to any economic cycle shifts. The trend has caused a lot of brands whether on a large or small scale to intervene more on sustainability for longer periods. Those who prepare for this economic shift trend will be successful and be able to gain more in the long run.
Online land grabbing
Tech companies like Amazon have become lead retailers in apparel in America. Indians Flipkart has also a large percentage of online shares in fashion sales. Such examples are the cause of this digital land grab that has dominated through convenience, segment coverage, and labeling as private enterprises. However, due to the saturation of the market by competitors and an increase in the market. This online land grab trend has led to a race of profitable growth among fashion brands. It has also brought about overlapping businesses of a related niche. Yet, fashion giants are still fighting to be the main platform for consumers and brands.
Finally, these trends show how there is an investment in speed on the release of brands and design on both the small and large enterprises. Small enterprises have now picked up the pace to take less time in design, manufacturing, and production. This has been made easier with the use of technology that has simplified everything. Since through people embracing e-commerce, production timelines are reduced and distribution has been streamlined. Startups are able to relate quickly to these trends, while the mainstream groups are catching up with the constant change and are able to deliver.