The recession has made us rethink our fashion statements. It’s already been well pointed out that the downturn in the economy has heavily impacted the fashion industry. Although recessions occur once every 15-20 years, this current one we’re experiencing is going to have a chronic effect on our whole of idea of fashion. We are living in a very pragmatic period these days. Prior to these practical days we’re now living in, we delighted in the decadance of fashion – nothing was overpriced or too excessive – you only worried about being accused of being too dull. Now though the labels and catwalks are receiving a bad press. Even looking at the the mid-range fashion brands, suddenly they’re under fire for sweatshop factories. Is it that everyone has become so unbelievably hard to please?

First of all, fashion isn’t dead. In fact, looking online there is tough competition between online store traders (e.g. searching for fashion for women or ladies wrist watches) – a signal there is still strong demand and supply. What’s long gone is the old-school way we viewed fashion – being told what’s now cool by the big labels. Fashion has always looked at the public instead of the other way around, and nowadays many factors are stopping us buying from big labels. First Off, young people are very much more conscious of globalization, and showing off your fashion labels can give the impression you are egotistical and inconsiderate in certain circles. Second, we’re skint! Style has invariably been a luxury, not an essential. In an economic downturn, non-essential items are the first to be forgotten on the store shelves. Finally, people define themselves much more individually nowadays – peer groups are more tight-knit, the days of millions watching the same TV show are over, and fashion requires that sort of sheep-like thinking to trade in large amounts.

What is the future for the fashion industry? As ever, they must change to survive – create a broader range of fashion lines to cater to more corners of the market. If you’re a boutique store selling unique fashion lines at a cheap cost, you have a strong business model despite the depressing economic months we are experiencing. Nowadays, individuals are blending their styles, buying from marketplaces and more personal, affordable fashion stores.

This entry was posted on Saturday, September 12th, 2009 at 6:14 am and is filed under Jewels + Trinkets. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.