Introduction
Many clothing companies encounter difficulties in terms of monitoring consumer behaviour and managing customer demand. However, these difficulties are solved by implementing a business strategy known as fast fashion. Fast fashion is “a business model that encourages new designs in stores every few weeks instead of every fashion season.”( Okonkwo, 2009 p.229). The retail fashion industry has seen a major transformation in recent years. Fast fashion companies introduce the newest collection of clothes in accordance with their research of latest fashion trends and are manufactured rapidly and efficiently to enable consumers to benefit from the latest pieces at lower prices. This assignment discusses the concept of fast fashion by identifying the relevant characteristics and how they affect company approaches to capacity planning. It will also look at how fashion companies meet their demand and how it contributes to Zara’s success in particular.
The characteristics of fast fashion are as follows:
Relatively inexpensive – Fast fashion is inexpensive. “Retailers such as H&M and Zara sell up-to-the minute fashion at low prices”. (Slack, Chambers, Johnston, 2010) This attracts customers into the store and also allows them to see trendy styles of clothing at an affordable price before they go and new styles emerge, making it accessible to the public as H&M and Zara are high street retailers.
Styles changing frequently – There’s an ever changing development in fast fashion. “To keep their merchandise always fresh, they rely on a combination of customer data and fashion discernment – spotting trends everywhere” (Turconi, 2007, p. 8). As the market research findings arrive, designers quickly in...
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...Zara has become the forefront of fast fashion and have become a fast fashion follower over the years. The approach of conducting mass communication in terms of market research has made Zara the most productive fast fashion retailer. They implement their design strategy in a different way to competitors. Their design stage is split into three product areas: women’s, men’s and children’s garments and designers and market specialists and buyers are co-located to try out prototype designs. (Slack, Chambers, Johnston, 2010) This allows customer reactions to new designs to be incorporated making Zara a successful fast fashion retailer. Zara also receives information from various store managers and sales assistants on their stores. According to (Inditex, 2013) “A non-stop flow of information from stores conveys shoppers’ desires and demands” contributing to Zara’s success.
Respondent Abercrombie & Fitch Stores, Inc., operates several lines of clothing stores, each with its own “style.” Consistent with the image Abercrombie seeks to project for each store, the company imposes
Items such as clothing of home decor products are updated often so that the company can keep up with the popular items and promote change, all while encouraging their customers to spend money to “stay hip.” The store serves many purposes, but, ultimately, it is an agent of cultural evolution and socialization.
The principles of marketing (The Times 100, n.d) are a range of processes concerned with finding out what consumers want, and providing it for them. This involves the ‘4ps’ of marketing; price, place, product and promotion. The product decision in any company involves dealing with goods that should be offered to a group of customers (Jobber & Ellis-Chadwick, 2012). Burberry maintains a product line with great width and scope in which their products fall into two main categories; fashion or continuity. Their fashion products are designed to be responsive to fashion trends and are introduced on a collection to collection basis (Burberry, n.d). Continuity products however have life cycles that are expected to last for a certain time period. Burberry also has 3 primary collections; womenswear, menswear and accessories, with the variety of products they can utilize their product mix greatly. Burberry also has...
This essay will discuss Fast Fashion and the Impact of Technology. I will focus on the different levels of the market, the effect of fast fashion on fashion design, how copying effects high end designer brands and the impact of technology on the fashion industry.
Problem Recognition is the first step in the consumer decision making purchase. When customer passes through this step, it moves to the second step which is known as information search. Zara focuses on this step. When customers starts collecting information to know about a particular brand or various alternatives available in the market. As per the customers of Zara, various factors can influence their decision to choose Zara. Some of the factors that can influence the decision of its customers are products, brand image and brand identity, coming up with new products every two to three weeks and ambience of Zara stores and outlets. The decision factors differs from a person to person are unique for every person. Zara has to focus on factors like brand image, brand identity, products, ambience of its stores, so that it can influence the consumer’s decision and attract more customers to choose Zara. (Vaxjo, K. 2011)
Hennes & Mauritz (H&M) is a Swedish clothing retail company. The company was founded by Erling Pesson in 1947. The first H&M store was opened in Vaesteras, Sweden in 1947. The mission of H&M is to offer fashion and quality at the best price where “quality includes ensuring that products are manufactured in a way that is environmentally and socially sustainable” (H&M, vision & policy, n.d., para. 1). This essay is to highlight the current market analysis, pricing strategy, retail strategy, and competitive advantage analysis of the company.
It is very well said that fashion comes from within ourselves and not what we see and copy. It is reflected in our attitude, the way we walk, talk or even eat. There are no boundaries set as to what is fashionable and what is not. Whatever makes us happy, comfortable and confident is fashion and that is something that we should keep in mind. Fashion has become an integral part of any contemporary society. It is an omnipresent aspect of our lives and is one of the focal topics of the print and electronic media, television and internet, advertisements and window displays in shops and malls, movies, music, modes of entertainment etc. Though the term ‘fashion’ is often used synonymously with garment, it actually has a wider connotation. A garment
The business model that sets Zara apart from other clothing retailers is how rapidly the company changes stocks and releases new product lineups. The company averages 12-16 collections annually which equates to more than one lineup a month. Due to stock being limited and the rapid production Zara brings forth, their items are viewed as exclusive promoting further business. Their customers are happy knowing that their specific article of clothing is more “rare” due to only having an average of a two-week window to purchase the clothing. The company specifically targets current trends and has them in the store within 30 days. This maintains the brand’s uniqueness and relativity in fashion.
Fast fashion is a term used by fashion retailers to express that designs move from runway quickly in order to capture current fashion trends. Fast fashion clothing collections are based on the most recent fashion trends from both fall and spring fashion week. This fast fashion strategy is currently used by well-known brands such as H&M, Zara, Top shop and many other brands. Fast fashion allows consumers to take advantage of current clothing styles at a lower price because fast fashion trends are designed and manufactured quickly and cheaply. However convenient aspect of fast fashion has been leading to promote consumerism since clothing had become unfashionable and not wearable quickly. Also a lot of these garments are made of unsustainable fabrics, which is a huge threat to our ecosystem. Solution for problems in fast fashion is needed.
Fashion is an outlet people use to express themselves. People anxiously wait to see what the next trends are as seasons pass by. We buy anything that doesn’t break a bank, people buy a $10 shirt just because it’s cheap and they might not even wear it, but it’s all right, since it wasn’t expensive. As harmless and normal as that scenario sounds, the fashion industry has created the harmful concept that is “fast fashion”, in which stores sell an abundance of extremely cheap trendy clothing and “where deliveries are small and often, with stock delivered twice a week, for instant-access fashion.” (Cochrane)
This article is about the overall impacts of fast fashion. The particular section referenced discusses possible solutions and alternatives to fast fashion. It talks about how it is possible to produce environmentally friendly clothing through the use of organic cotton, bamboo, hemp, and other fiber crops that require less pesticides, water, and other inputs. It goes on to share how certain brands are beginning to implement the model of sustainable clothing. The point of this article is to introduce readers to the topic of fast fashion, give background, and show readers what they
The Apparel or clothing industry is a very dynamic market where changes occur in a daily basis. So, rivals within this industry assist to an extreme competition. To make sure that, they stay relevant in the market scene, businesses have to develop creative, innovative and sustainable marketing strategies to attract more customers and increase their brands awareness. Because, this industry has many players, we have chosen one well known company to make our research more specific and well centered. Hennes and Mauritz AB commonly known as H&M is our best choice because, this
Therefore their consumer promise is also the force behind the combination of their environmental and preservation guidelines used through the group 's supply chain. Zara, has been a groundbreaker in conveying new fashions, new designs, and new ideas rapidly to its stores. Zara’s tenacious thrust of on-trend products into the supply chain channel keeps its stores in stock on the latest fashions at lucrative prices. Lots of their new concepts have come from some of the fashion shows that just ended in New York, Paris and Milan will soon be on Zara’s racks.
Facilitating functions are those which make the process easier for both, the manufacturer and consumers. Zara is a proud owner of 90 percent of its stores in brick and mortar, located mostly in popular and dense traffic locations, which is meant to be an efficient advertisement technique.
Fashion is a controversial issue in society nowadays. We live in a consumerism advanced era in which whether following fashion trends or not has become a debatable point. Many people believe that it is important to follow fashion trends. For example, Lord Chesterfield once said, “If you are not in fashion, you are nobody.” The question is why fashion should be an essential matter of concern to all of us. As far as I am concerned, each person should be able to decide if one wants to follow a trend or not.