The Impact Of Fashion On Consumer 's Choices Of Many Products And Services

3732 Words15 Pages
Abstract “The finest supply chains aren’t just swift and cost effective, they are also agile and flexible and they ensure that all their companies interests stay aligned.”- Hall L Lee The turbulent and highly unpredictable market in the fashion industry creates hasty changes in consumer demands. Many products and services are assumed to have life cycle, perhaps none have more diverse cycles than Fashion. Fashions are, by definition, temporary cyclical phenomena adopted by consumers for a particular time and situation. The phenomenon of fashion invades consumer’s choices of many products and services. The triumph of fast fashion to a great extent depends on identifying a trend quickly and translating it into the market before the trend is…show more content…
As cost is the most significant factor to be taken into thought in the production process many companies take advantage of offshore outsourcing by collaboration or manufacture their products overseas to get a lower price (Matilla, 2002). Fast Fashion industry is perhaps one of the most demanding challenges for industrial logistic management. According to (Christopher, 2004) there is an increasing propensity to get products and materials from other countries. This global outsourcing may consequence in longer lead times despite the low labour cost. Keeping track of this enormously fast and cut-throat world of fashion industry has never been trouble-free. Background “The Factors of Fashion Markets” Following are the characteristics of fashion industry 1. Short life cycle: The product generally has a short life-expectancy. It is designed to capture the mood of the moment during the season sales. 2. High volatility: Consumer demand is known as barely ever steady or straight and possibly influenced by constantly changing factors such as weather, films, pop stars, or well known sports stars. 3. Low predictability: Due to the high level of volatility and the unstable nature of fashion goods, it is enormously difficult to predict the total demand perfectly correctly by itself on a week-by-week or item-by-item basis. 4. High Impulse purchase: Many buying decisions by consumers for these products are made at the point of
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