A Restless Bunch

The recession has made us rethink our fashion statements. It’s already been well remarked that the downturn in the economy has heavily impacted the fashion industry. Although downturns in the economy occur once every 15-20 years, this current one we’re in is going to have a long-term effect on how we see fashion. We are living in a very pragmatic age these days. Not so long ago, that frivolousness and decadance were part and parcel of the fashion industry - there was no such thing as too extreme or too costly. - you only worried about being accused of being too dull. It’s different today though : the fashion labels and catwalks are receiving bad publicity. Even looking at the the more affordable labels, they’re suddenly under fire for manufacturing in foreign sweatshop factories. Is it that everyone suddenly become so very hard to please?

First of all, fashion is very much alive and always will be. In fact, looking on the internet there is tough competition between online fashion retail merchants (e.g. looking for wholesale fashion or Accurist watches) - a sign there is still strong demand and supply. It’s the old-school view that is dying its death - being told what’s now chic by the big brands. Actually, fashion has always looked at our lifestyles instead of vice versa, and today many issues are turning us off big labels. First Of All, people are much more aware of globalization, and showing off your fashion labels makes you look narcissistic and inconsiderate in certain circles. Second, it’s the economy, stupid! Fashion has always been seen as something of a luxury, not an essential. In a recession, luxury items get hit the hardest. Lastly, individuals express themselves much more individually these days - peer groups are more tight-knit, we no longer see ourselves as being part of large groups, and fashion requires that kind of herd-like thinking to sell in numbers.

So what does this mean for fashion labels? As ever, they need to change to survive - create a broader range of fashion lines to cater to more corners of the market. If you’re a small store selling individual fashion lines at a cheap cost, the future looks bright for you in spite of the subdued economic times we are experiencing. These days, individuals are shuffling their styles, purchasing from marketplaces and smaller, low-priced fashion shops.