The Sneak Peak of Fashion Industry

Change of Era in Fashion

There has been a significant change in the industry over fashion for the last twenty years or so. The industry has witnessed tremendous potential in the field of fashion globally and nationally. The biggest impact on the industry is a shift from retail to organized retail and further moved to digitalization. This impact has been on the fashion companies and the end users. Due to digitalization, suddenly the world has got closer and a consumer has multiple options in fashion from multiple companies. Fashion buyers earlier had a choice but it was earlier quite a monopolistic market as customization of fashion for the clientele was all done by the fashion designer and now the buyers still have craving for latest fashion trend every week or a month and for a lesser cost.

Time-Span to Deliver has Shortened

For fashion stylist, there was a time when the stylist had enough time to explore design possibilities a few years ago and now it has been stressful enough for the designer or the stylist to create a variety and fast moving fashion options possible. Thankfully, in the digital era, there is a lot of data available about the consumers, the fashion trends, the reviews which give quick information on the product quality and it’s pricing.

The New Challenges

Though there have been enough challenges in the recent past, there are global industry initiatives for sustainable practices in the complete life cycle. These initiatives set a particular standards for importing fabrics, innovation in the design, and materials used for the fashion items. Online shopping has been a platform last few years where consumers have indulged in shopping from various select portals. To mention a few are Myntra, Nyka, Amazon, etc. In the years to come, the online platforms will continue to grow in all segments for fashion having their own labels.

User Experience

Fashion companies are trying hard to meet the user experience and betterment of product and services to keep the customer engaged that may increase repetitive purchase. The use of Artificial Intelligence, communication technology, the digital marketing and social media has made the market even more competitive amongst the brands into fashion in their own respective domain. To sustain in the market, it is important for each company to deliver the best, creative, trendy and sustainable fashion for the product. As many companies having collaborated with the online shopping companies, there is still some fear amongst the traditional brand companies to lose their market credibility and control over the market. It may happen sooner or later where collaborations will happen between these two. Fashion companies may have to keep redefining the benchmark of quality of the product, service and the final user experience of the customer.

For one to be in the world of fashion may really have to be a braised with world today and anticipate tomorrow. It doesn’t matter whether one makes a career in fashion as a stylist, a designer, a pattern maker, a boutique manager or an entrepreneur; be a part of the stride to keep changing and accepting the new. It is surely not going to be the same every day.

Students at Dr. D. Y. Patil School of Design have been engaged in the learning of changing market trends. The impact of consumer behaviour, economy, social and natural calamities along with the rapidly changing technology dynamics in the fashion industry.

Note: The views expressed in this article are solely author’s own and do not reflect/represent those of Shiksha