What Contributes to the Fashion Industry's Being So Competitive? (2024)

Fashion designers have one of the highest profiles in the fashion industry, along with models. However, the industry involves numerous other roles as well, such as makeup artist, stylist, textile designer, retail merchandiser, graphic designer, photographer, publicist and marketing professional. The field is extremely competitive, but if you're driven to pursue a fashion career, aim for the specific career path that fits you best.

Glamour

  1. The glamour of the fashion industry draws many people into fashion careers, creating a saturated market. The glamour frequently appeals to bold, ambitious and confident people who love being in the spotlight, and the mix of such personalities enhances the competitive environment. Mingling with other professionals and attending large international events are crucial to succeed in the top ranks of the industry. Thus, fashion professionals must exude confidence to get ahead in the industry.

    The perception that fashion professionals earn high salaries and lead glamorous lives may draw people to the industry. However, salaries can vary greatly, ranging from very low for new professionals to fairly high for experienced, successful professionals. For example, fashion designers earned an average of $64,530 in 2010, with the lowest 10 percent earning $32,500 and the top 10 percent earning $130,890.

Changing Trends

  1. Businesses in the fashion field must continually promote new trends in order to sell more products. Furthermore, trends in the field are continually changing, meaning businesses must continually adapt to market demands. Fashion designers and buyers must predict which trends will become popular in the near future, while having no guarantee of their products' success. This ever-changing market contributes to strong competition among professionals and businesses in the industry.

Creativity

  1. The chance to work in a creative occupation draws many people to the fashion industry, creating intense competition. For fashion designers, the pressure to create original designs centered around an original style causes cut-throat competition as well. Other professionals in the fashion industry face similar challenges. Marketing professionals and graphic designers help to hone and promote the distinct style of a company, for instance.

High Concentrations

  1. Just as glamour draws people to the industry, the concentration of fashion jobs in particular areas of the country -- namely New York City and large cities in California -- leads to intense competition in those locations. Jobs in other places are extremely scarce. The concentration of competitors in small geographical areas intensifies the competitive atmosphere of the industry.

What Contributes to the Fashion Industry's Being So Competitive? (2024)

FAQs

What contributes to the fashion industry's being so competitive? ›

As there are more players in the fashion industry, customers now have more options to choose from. Such diverse business models have made the fashion industry more competitive.

How competitive is the fashion design industry? ›

The fashion design industry is highly competitive, and in order to be successful, you and your work must stand out. You are creative, otherwise you would not be interested in the position. An education will help you refine and direct that creativity in order to turn your ideas into marketable products.

What is a competitive advantage in the apparel industry? ›

There are two basic types of competitive advantages: lower cost and differentiation. Lower cost is the ability of a firm to design, produce, and market a comparable product more efficiently that its competitors.

What are the 5 factors that affect competitive strategies? ›

From a microeconomics perspective, competition can be influenced by five basic factors: product features, the number of sellers, barriers to entry, information availability, and location.

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