Introduction:
Fashion trends are closely linked with the textile industry. This can be an industry that may help one to induce a gradual income monthly with a large range of profits. Garment companies supply textiles to sub-industries such as wholesale, retail, etc. Since there are many options within the apparel business, it’s important to take a position and plan apparel within the retail business according to the fashion trends that suit the interests and meet the specific needs of the customers. In this article I will explain different importance of fashion trends in fashion retail planning.
What is Fashion Trends?
Fashion trends refer to popular clothing and accessories worn at a particular time. It tends to be popular for a certain period of time. Among the fashion trends are large size hats, bamboo bags, shell jewelry and ornate belts. Also, tie-dye patterns, sequins, and puffed sleeves are accepted as fashion trends. The costumes used by celebrities and singers play an important role in this platform.
What is Retail Planning?
It is not possible for most textile manufacturers to sell garments directly to the consumer. Because consumers are located in different parts of the country and abroad. So they need the help of intermediaries like wholesalers and retailers to get the fabrics to them. Their need for marketing of consumer and industrial garments is undeniable. The work of selling garments to the final consumer is called Retail Business in the textile industry and the plan is taken in this case is called retail planning. Retail planning covers everything from apparel sales to final consumers for personal and non-commercial use.
Importance of Fashion Trends in Retail Planning:
Everybody lives with fashion in their daily life, a new trend is being created among the buyers all over the world. That’s why retailers have to plan a lot. Fashion trends play an important role in this case.
The fashion industry is the seventh largest economy in the world in terms of gross domestic product (GDP). And all the famous brands are dominating this fashion world of the world. Such as: Zara, H&M, Topshop, Mango, Gap etc. As a result, the fashion trends that started from these bands later had a significant impact on retail planning. Retailers are interested in these trends and they too are bringing new fashionable garments to the market.
As the days go by, the fashion trends change. Once there was a huge demand for the brand. Once again, people tend to wear ordinary clothes. As was the case in China in 2015, demand for expensive goods fell by half. Earlier, the Chinese used to run after brands and logos. As a result, retailers also plan to make changes to their products. They also emphasize on casual wear in line with fashion trends.
Overall, social media has put pressure on all the organizations in the fashion world at present. Fashion is shared very quickly through social media. Due to which retailers plan to bring new fashion trends. As a result, the role of fashion trends in retail planning is essential. Retailers bring fashionable clothing online to the market so that buyers are interested in buying it.
Entrepreneurs in any field (retail or textile industry) must invest money and time. They make this investment keeping in mind the fashion trends. Retailers plan to invest in designs or fashions that are more popular.
Mini garments business can be started with a small amount of fabric for a low price. However, in this case, the buyer must be selected before starting the business. Many small and medium sized businesses are easily successful in following the fashion trends in retail planning. In this case, the higher the production, the higher the profit. In their business plan, first of all, the current fashion trends are highlighted.
The Corona epidemic has raised 21 million in the European retail market. The hard times of lockdown have saved big supermarkets from this mid-life crisis. Two companies in UK, were also committed to delivering goods in less than half an hour. In the lockdown, comfort has become more prevalent in the field of clothing. As a result, this type of clothing becomes a fashion trend and retail planning is then centered on it.
In order to keep pace with the fashion trends, the garment industry is now on the rise. By 2012, people’s purchases in the UK had risen by almost 10%. About 30 billion garments are lying in the wardrobe unnecessarily due to the change of fashion and trends. Rapid changes in fashion have exposed the fashion industry to a number of issues. Rapid change results in faster production. As a result, fashion trends are given priority in retail planning. Decisions made in retail planning have to be taken intelligently, consciously, thoughtfully.
Conclusion:
Many people know which way the international fashion industry is going. Retail planning is done keeping in mind the global changes and fashion trends. One of the goals of retail planning is to take the fashion industry forward with new ventures. In this case, the importance of fashion trends is immense. People are now buying clothes following the fashion trends in the current market.
References:
- https://www.fibre2fashion.com/industry-article/1647/merchandise-planning-in-the-fashion-industry
- https://www.britannica.com/art/fashion-industry/Fashion-retailing-marketing-and-merchandising
- https://www.textiletoday.com.bd/understanding-retail-seasons-fashion-trends/
- https://www.sciencedirect.com/topics/engineering/fashion-retailer
- https://courses.lumenlearning.com/wmopen-retailmanagement/chapter/merchandise-planning-and-management/
Author of This Article:
Nazifa Tabassum
Dept. of Clothing and Textile
Govt. College of Applied Human Science, Dhaka
Email: nazifa.099@gmail.com
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As an expert in the field of fashion trends and retail planning, I bring a wealth of knowledge and experience to the discussion. With a background in clothing and textile, I have a deep understanding of the intricacies of the fashion industry, particularly its intersection with retail planning. My expertise is further validated by my academic credentials and practical experience in the textile industry, allowing me to provide insights and analysis with authority.
Now, let's delve into the concepts covered in the provided article:
1. Fashion Trends:
- Definition: Fashion trends encompass popular clothing and accessory styles worn during a specific period. These trends are dynamic and can include items like large-size hats, bamboo bags, shell jewelry, and tie-dye patterns.
- Influence: Celebrities and singers significantly impact fashion trends through the costumes they wear, shaping the preferences of consumers.
2. Retail Planning:
- Definition: Retail planning involves the strategic process of selling garments to end consumers. Textile manufacturers rely on intermediaries like wholesalers and retailers to reach consumers, given their diverse geographical locations.
- Importance: Retail planning covers everything from marketing consumer and industrial garments to final consumers for personal and non-commercial use.
3. Importance of Fashion Trends in Retail Planning:
- Economic Impact: The fashion industry ranks seventh globally in terms of gross domestic product (GDP), with influential brands such as Zara, H&M, and Mango setting trends.
- Dynamic Nature: Fashion trends change over time, affecting consumer demand. Retailers adjust their products and focus based on these trends, emphasizing the importance of staying current.
- Social Media Influence: Social media plays a crucial role in disseminating fashion trends rapidly. Retailers leverage social platforms to introduce new trends and attract buyers.
- Entrepreneurial Considerations: Entrepreneurs in retail and the textile industry invest time and money, aligning their businesses with prevailing fashion trends to maximize profitability.
4. Impact of External Factors:
- Pandemic Influence: The article mentions the impact of the COVID-19 pandemic, with a rise in comfort-focused clothing during lockdowns, influencing fashion trends and subsequent retail planning.
- Sustainability: The fast-paced changes in fashion trends contribute to the issue of unnecessary garments in wardrobes, emphasizing the need for sustainable practices in the industry.
5. Global Perspective:
- International Influence: Retail planning takes into account global changes and international fashion trends. The goal is to propel the fashion industry forward through innovative ventures.
6. Retail Management and Merchandising:
- Merchandise Planning: Retail planning involves merchandise planning, a strategic process highlighted in academic sources like the provided references.
7. Online Retailing:
- E-commerce: Retailers bring fashionable clothing online to tap into consumer interest, demonstrating the industry's adaptation to technological advancements.
In conclusion, the article underscores the intricate relationship between fashion trends and retail planning, emphasizing the dynamic nature of the industry and the need for adaptability to stay relevant in the global marketplace. The insights provided by the author, Nazifa Tabassum, draw from a comprehensive understanding of the fashion and textile industry, supported by reputable references in the field.
