It used to be that fashions got more colorful, shorter, or longer, thinner or thicker. Now they’re getting faster.
Fast fashion happens when shoppers see the latest styles and want them like right now. Currently, consumers are being served the hottest styles via the likes of Instagram, assorted fashion blogs, and countless other social destinations.
These sites provide instant access to the latest creations paraded across the runways of the world. Once viewed through these channels, the hot new items often stir up ravenous fashion appetites and infuse viewers with a mad desire to grab the latest and greatest.
Remember The Gap? No. Well, check the history books. The once mighty retailer of youth-oriented clothing is feeling the squeeze of fast fashion in a big way. Sales have been plummeting for over a year, forcing the closure of 25% of its stores.
The big winners in the fast fashion race? Forever 21, H&M, and Zara. These retailers stock minimal amounts of merchandise and frequently update their stock. Under the old model, clothing stores bought product a year in advance, assuming the styles would be the in thing by then. If the stores guessed wrong, they were stuck with mountains of unsold goods. Profit-gobbling markdowns followed.
The new model zips fashion in and out in small batches, giving viewers a quick eyeful via social media. If it doesn’t click, it’s easily replaced. Zero markdowns. Healthy profits.
If you have any questions or comments about fashion marketing with Instagram and other social media, or about any other brand-related topic, feel free to send them our way.
You can connect with the Young Company team at 949-376-8404 #4033 or bart@youngcompany.com. And be sure to follow us for the latest brand marketing news and tips.