Market Researh- Market Size

Saying it “is all about 'investment dressing' - buying one piece and loving it for a long time”. (Siegle, 8) When buying a product the shopper should not be afraid to spend a little extra cash so it won’t have to be disposed in a few months time. Making more of a relationship to care for what is in their possession. And repair the clothes they have since “just 2 per cent of the average clothing budget goes on services that repair or lengthen the lifespan of our garments and accessories”. (Siegle, 9) She goes over how the more you buy fast fashion the higher the price and the cheaper the material will be. Ending up in the garbage and repeating the cycle of devastating effects on the

This expansion demonstrates how the luxury industry is now run by massive corporations whose focus is only on growth, visibility, brand awareness, advertising, and most importantly, PROFITS! With growth and expansion, has come a decrease in quality and rarity. The luxury garments produced are mostly not handmade but are even outsourced to large factories in places such as China and Turkey. Also, to meet quarterly turnover projections, “designers churn(ed) out increasingly trendy collections of clothes, handbags, and shoes.” (Thomas, Pg. 246) With hundreds of new stores around the globe the surplus of designer labeled merchandise is immense hence, the proliferation of outlet malls.

It is essential to select a representative and accurate sample. The population of interest this study will be the adults in Australia who are over 18 years old. In other words, a consumer should own understandings of fashion and unfashion independently. Due to time limitation, 4 samples come from QUT blackboard sources.

With high rates of travel within US and abroad, there is a greater demand for luggage and leather accessories.

It would appear that fast fashion has had a detrimental effect on the role of the self and has perhaps lessened consumers’ levels of attachment to items; this will be a point of research within this dissertation as convincing consumers to value their clothing would be the initial stage in adapting disposal behaviours.

Within a mature and highly competitive market it is more crucial than ever that clothing companies listen and respond to consumer preferences. The response should be a reposition or new product offerings, rather than a strict discounting that could drive margins to ultimate decline.

The fashion industry is one of the most competitive industries in the world: sought after products and coveted brand-name garments can be “in” one season and just as quickly “out” the next. It is one of the most difficult industries for a new brand to successfully penetrate, as the top tier of respected and recognized designers have built their brand equity through many seasons of impeccable looks and styles that consumers have come to demand. Tory Burch LLC, however, made the feat seem easy in 2004 when the start-up brand stormed the women’s ready-to-wear apparel scene and introduced their luxurious, yet affordable, line of clothing. Selling out its first shipment in a matter of weeks, Tory Burch LLC set the tone for

Clothing not only keeps us warm, hides our imperfections or accentuates our best features, but also expresses our personality. However, fashion is more like a cult than self-expression. Every month or every weekend, sometimes in our pajamas, we start a new crusade for extra clothes, even if 20% of it never leaves our closets. We buy a staggering amount of cheap and low-quality clothing, which sometimes falls apart after one wear or one wash, and easily gets tossed into the garbage.

Given the alignment of product segmentation towards women 's clothing, women make up the majority of buyers in each key age demographic. According to the chart, the major market for clothing retail industry is people aged 29 to 43 years, which accounted for about 39% of the market. Fashion trends and brands appeal to this segment. However in the past few years, spending power of generation Y has increased and tends to spend a high proportion of the income on clothing. Generations X and Y will increase their share of the market in this industry as more of these consumers enter the workforce [see Exhibit 2] (IBISWorld, 2012).

In current times, in the fashion and beauty industry, high-end products are not the most popular choice. As cited by Baldwin and Roberts (2006) - Supermarkets such as Asda, Tesco and sainsbury’s surpass the sales of clothing and beauty products than that of many high street retail brands. It is to my belief this is possibly due to a happy medium of price and quality; The products are not of a lower standard of quality such as that a discount store may sell, and they are not extortionately expensive, like that in a high-end retail

Coach has a very strong brand image. They continue to gain new customers and because of devotion and loyalty they are able to keep repeat customers. Brand image can be considered everything to customers when searching for a handbag. Industries that manufacture handbags must be able to provide what is considered a “chic service”, while continuing a “thriving business” (Foster, 2006). Due to the brand image that Coach has they are able to introduce new and more risky handbags with the confidence that most current consumers will continue to purchase their

The fashion industry is one of the largest and most value-creating sectors in the world, contributing a huge £28 billion into the UK economy in 2015 alone, as determined by Oxford Economics (in 2015). As a result of this, the industry is continuously reinvented. New products are introduced into the market, gain popularity by being worn by an ever-increasing number of consumers, reach the stages of maturity and eventually decline, going out of style. This is known as the fashion cycle, a process utilised by forecasters and retailers alike years in advance to predict what will be welcomed by the public as well as the uncertain duration of time for which the trend will last. Despite new garments being innovations, fashion is widely thought of as being evolutionary- not revolutionary- meaning there are visible progressions across styles from season to season. This, resulting in an identifiable fashion trend. It is the development of this trend that simulates changes within the external environment- in particular, transfigurations in: social, economic, technological and cultural factors within societies. It is within this essay, that I will be exploring and identifying just how socioeconomic factors influence and affect what clothing garments we see in stores.

Case questions have been popping up in marketing interviews for years. While there are many similarities between a consulting case interview and a case given in a marketing interview there are differences as well.

Long before the modern world, clothing was considered as one of the basic needs that all humans required. However, as a sense of fashion generated into the minds of all people, garments became more of a want rather than a need, leading to an insatiable demand for attractive clothes. In the past, people produced their own garments for survival purposes, such as to keep themselves protected and warm. Nowadays, the purpose of garments is not just for survival but also for the sense of satisfaction and fashion. People are usually judged by what they wear; this means that by wearing expensive and sophisticated garments, it would indicate the wealth of that person. As a result, nowadays, ready-made garments are available for purchase in

Survey findings presented in the Mintel report on clothing retail (2003) show that Irish consumers are: