The downturn in the economy has made us rethink our fashion statements. It’s been well remarked that the recession has heavily impacted the fashion industry. Although recessions are nothing new, this current recession we’re experiencing is going to have a lasting impact on our whole of idea of fashion. We are living in a very pragmatic age now. Not so long ago, that frivolousness and decadance were all part of the fashion scene – there was no such thing as too expensive or too outrageous. – you could only be accused of being too dull. It’s different today though : the fashion labels and catwalks are copping bad publicity. And since everyone’s mindful of globalisation, even affordable fashion labels are receiving bad publicity for utilising sweatshops to make their garments! Is it that everybody suddenly become so incredibly difficult to please now?
First off, fashion isn’t dead. As a matter of fact, looking online there is tough competition between online shop traders (e.g. looking for wholesale accessories) – a sign there is still strong demand and supply. What’s dying out is the old way we saw fashion – of being dictated to by the established fashion labels. Fashion has always followed the public rather than vice versa, and today many matters are turning us off big fashion brands. First Of All, young people are much more conscious of globalisation, and showing off your clothing labels can give the impression you are narcissistic and inconsiderate in certain circles. Second, it’s the economy, stupid! Style has invariably been seen as something of a luxury, not an essential. In an economic downturn, luxury items get hit the hardest. Lastly, individuals express themselves a lot more individually nowadays -we don’t need to be ordered what to wear or how to act, there’s no large “tribe” to assimilate or fit in to, and fashion demands that type of groupthink to trade in large amounts.
What is the future for the fashion industry? Like always, they must change to survive – create a greater range of fashion lines to cater to more corners of the market. If you’re a tiny shop offering unique fashion lines at an affordable price, you have a strong business model in spite of the grim economic months we are experiencing. These days, people are fusing their styles, buying from marketplaces and more personal, inexpensive fashion shops.
