The Environment of Fashion (Study Guide)

The Environment of Fashion Key Concepts ● The four major factors affecting fashion ● How research is used by fashion producers and retailers to help them with market segmentation ● The five basic psychological factors that motivate human behaviour–and how each affects fashion Influence and Predicting the Fashion Movement ● Seasonal Change: Dominant colors is fashion change with the seasons just as the amount and type of clothing worn depends on the weather. ● Identifying Trends: What’s dominant on the runway? What are we seeing on celebs, movies, tv, influencers, and music. ● Current Events: Major news stories going on in our country and around the world can have a major impact on our fashion status. Theories of Fashion Adoption Downward - Flow Theory ● People of wealth and prominence adopt a style, and gradually that style spreads downward into the lower classes ● Oldest theory of fashion adoption ● Once the lower classes duplicate the look, new styles must be introduced to maintain social position and power Horizontal - Flow Theory ● Assumes that fashion moves across groups who are in similar social levels rather than down from a higher level to a lower level ● Acknowledges mass production, mass communication, and an emerging middle market ● Different markets have different requirements for products ● All happening at the same time ● Ex. Fast Fashion Upward - Flow Theory ● Fashion adoption begins from “the streets” ● Looks became popular within a specific social group then move into mainstream fashion ● Newest theory of fashion adoption ● The pace of the adoption is difficult to determine Fashion Leaders - Rich, Famous, Celebrities, and Influencers ● It’s important to know what they’re wearing because designers are giving them their new collections ● What they wear will influence us and we will copy ● People want to be able to look up to them ● Designers also copy Fashion & Individuality - Self Expression Why Fashion Needs Eccentrics ● Eccentrics are people to go over the top in fashion ● Regardless of time and place, there has always been a special group of women united in their universal need to want go against convention ● Their early embrace on the odd, the ugly and weird often blooms into a full blown fashion trend ● In today’s cookie cutter, keeping up with celebs world, the future of fashion is in the hands of designers that think outside the box and the women brave enough to wear them Know Your Customer! ● This is the cardinal rule in any business, but holds especially true in the fashion industry ● The goal is to satisfy the greatest number of customers and make them want to buy your product Questions Every Designer, Manufacturer and Retailer Must Know ● How old are your customers? ● How much are they willing to spend on your product? ● What level of service do they expect? ● Are they married or single? ● Do they have children, and if so, how many? ● What kind of work do they do? ● What’s their annual income? ● How much do they have to spend on extras? ● How do they spend their leisure time? ● What motivates them to shop in a particular store? ● What’s their sense of style? The latest fashion trends or classics? ● Do they use e-commerce? The 4 Major Factors Affecting Fashion Market Segmentation ● Geographics ○ Are population studies on where people live ○ These studies organize data by egon of the country, by population density and climate ● Demographics ○ Population studies that divide broad groups of customers into smaller market segments. ○ Age, sex, income, occupation, education, religion, race, ethnicity, or nationality ● Psychographics ○ Studies that develop fuller, more personal portraits of potential customers and their lifestyles ○ Variables include social class, values, lifestyles, and personality ● Behavior ○ Grouping consumers according to their opinions of specific products and services and their actual rate of use ○ Segmenting a market by behavior also might help identify the reason for one group’s refusal to buy your product and make changes to satisfy the consumer The Sociological Environment ● Leisure Time: Demand for more versatile wardrobes to fit numerous activities. (sports, travel, workout, relaxation) ● Ethnic Influences: Hispanic, Asian and African American markets have different needs (smaller clothing sizes, brighter fabrics, cosmetics in more shades, heritage pride) ● Status of Women: Demand for equal opportunity, equal pay and equal rights. ● Social Mobility: The society of classes from immensely wealthy, wealthy, middle class to low-income/poverty. ● Faster Communications: Being on the pulse of fashion trends through instant access on social media, television and bloggers. ● War, Disaster, and Crisis: Compatible changes in fashion due to extreme environment and situations. War changes daily activity and need for specific clothes. Ex: World War II drew women into more masculine roles of work. Rosie the Riveter. The Psychological Environment ● Curiosity: Desire for change and something more satisfying ● Boredom: Get bored ● A Reaction to Convention: People’s reactions against convention or adhere to it, the need to fit in or stand out ● Need for Self Assurance: Confidence through dressing well, when we look good we feel good The Economic Environment ● Disposable Income: The amount a person has left after paying taxes ● Discretionary Income: The money an individual or family can spend after necessities are paid (food, shelter, basic transportation) ● Population: The size of population and the rate of growth. The age mix of the population and its projection into the future. Baby Boomers (born between 1946-64) are still the largest generation on record. Concluding our largest age group is graying. Life expectancy is also longer.