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The Importance Of Industry Dynamics In The Fashion Industry

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Industry Dynamics
The fashion clothing industry has changed remarkably, mainly with in the last 20 years. The changing aspects of this industry have enforced vendors to low their prices and flexibility in their designs and quality, vital plans are significant to sustain a profitable place in the progressively demanding market. A basic rule of the business is "know your customer." This rule is also very important in fashion industry. It is very important for a fashion designer to know what is in style and he has to update his clothing with that style regularly. It is also very important for a fashion designer to know the conditions of the environment in which he is working and how this environment is affecting on the taste and fashion senses of the peoples.
Clothing market in recent days becomes highly competitive. It requires regular changes in the product ranges and suiting styles to compete with competitors and to stay in the market. One has to introduce seasonal cloths regularly.
The main reason to investigate fashion industry dynamics is to view the modifications that have happened in this fashion industry in the previous recent periods and try to know how the fashion industry developed to the level that it is today. …show more content…

In order to stay alive in the competition, other small fashion apparel merchants converted from product-driven to buyer-driven chains, made collaboration with dealers in different markets and started to promote their unique brands. This collaborations help to increase the sales and to low the cost which result in increase the profit margin. Now there are lots of brands are present especially for women clothing which increase the competition and it also facilitate the customers to buy unique and creative designs. To remain in the market it is necessary for the designers to introduce new, unique and creative designs

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