The Importance Of Fast Fashion: Business Strategies

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Fashion is defined as an expression that is widely accepted by a group of people over time (Bhardwaj, Fairhurst, 2010). Fast fashion is the term used to indicate the set of strategies adopted by fashion retailers to respond current and emerging fashion trends quickly and effectively in current merchandise assortments (Fernie, 2004).
In today's competitive environments, characterized by growing complexity, logics of innovation are imposed to organizations, capable to address companies quickly into new products, new performance but also new perspectives able of govern complexity through variety and variability of responses to environmental changes, starting with the close relation between time and competitive advantage of companies.
The fashion
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It is important for fashion companies to quickly respond to changing fashion (Hayes & Jones, 2006). Fast fashion is about reducing lead-times and thereby be able to offer products to the consumer in right time. The two most important factors of fast fashion is lead-time and consumer demand. The fashion retailers are using a business strategy, which reduces the time it takes to get the fashion products into the store and in which the buying system is built on in-season buying so that the product ranges consistently are updated with new collections through the season (Barnes & Lea- Greenwood, 2010).
Fast fashion is a business strategy which aims to reduce the processes involved in the buying cycle and lead times for getting new fashion product into stores, in order to satisfy consumer demand at its peak (Barnes & Lea- Greenwood, 2010, p
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The consumers now want every new changing style and that puts pressure on the retailer to always have the latest products. As mentioned before media has an important part in consumer demand because it influences trends and consumers look in magazines for the latest trends and then actively search for these key pieces (Hayes & Jones, 2006). Promotional activities such as advertising, websites and magazines are the most popular enticement appealing to almost seven million people. Fashion from mass media and celebrities have a direct influence on the shopping behaviour (Media and Fashion, 2010). Catwalks have been the drivers of fashion and a lot of fashion companies have based its concept on the interpretation on catwalk trends. Celebrity trends are also extremely important in the fashion industry since consumer looks at them as style advisors. Weekly magazines and daily TV-shows drives the consumer demand which result in more frequently shopping and the consumers expects to see new looks and up-to-date products in the stores every time they shop. Fast fashion is about the ability to act to trends and is therefore strongly linked to supply chain management and quick response (Barnes & Lea- Greenwood,

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