The Fashion Cycle

1. The Fashion Cycle

2. Fashion Cycle: • The period of time or life span during which the fashion exists. Peak Decline Rise Introduction Obsolescence

3. Introduction Stage • Designs first previewed during fashion week • “Fashion Leaders” wear the style • Limited number of people purchase • High Price

4. Rise Stage • Manufacturers will copy new designer styles • Less expensive fabrics used to create similar style at cheaper prices • More people wear the fashion = higher sales

5. Peak Stage • Fashion is most popular at this stage • Merchandise is mass produced and distributed • Popularity of style determine how long fashion stays in this cycle • Will survive longer it fashion becomes a “classic” • Changes in design, color or texture keep fashions in this stage (ex: Cardigan Sweater)

6. Decline Stage • Consumers grow tired of the fashion and demand decreases • Retailers markdown items to increase demand and make room for new designs.

7. Obsolescence Stage • End of the fashion • Price of fashion will be low, but consumers still may not purchase

8. Fashion Leaders • Trendsetters or individuals who are the first to wear new styles. • Not afraid to wear something before others • High profile: Celebrities, Models • Styles are often displayed at award shows, movie premiers

9. Fashion Followers • Wear fashions only when they become firmly accepted • When available in more retail stores • When fashion reaches mass acceptance with the majority of the general public

10. Fashion Laggers • Last to adopt a new fashion

11. Buying Behaviors • Majority of consumers “follow” rather than “lead” • Why? • People feel insecure • Easier to conform to standards • Lack of time or money for shopping

12. Theories of Fashion Movement • Trickle-Down Theory • Suggests that fashion trends start at the top with consumers of higher socioeconomic status and moves down to the general public • People with lower incomes (at the bottom of the fashion ladder) will only wear fashions that have become popular among consumers with higher incomes. • As more people “adopt” the fashion, those at the top become less interested

13. Theories of Fashion Movement • Trickle-Up Theory • Suggests fashion starts with lower-level income consumers and then moves towards consumer with higher income. • Lower-income includes younger consumers (teenagers)

14. Theories of Fashion Movement • Trickle-Across Theory • Fashions are accepted at the same time by all socioeconomic classes because there are “fashion leaders” in all groups.

15. The Swing of Fashion Popularity • 10 years before its time – vulgar and indecent • 5 years before its time – bold and shameless • 1 year before its time – flashy and daring • When it’s in fashion – elegant and smart • 1 year after its time – tacky • 5 years after its time – hideous • 10 years after its time – outrageous • 20 years after its time – funny • 50 years after its time – odd • 100 years after its time – charming • 150 years after its time - gorgeous

16. Factors that Speed Up Fashion Movement • Mass Media – Spreads fashion news around the world instantly • Good Economic Conditions – More money to spend designing and purchasing fashions • Competition – More competition = lower prices and better quality • Technological Advancements – Easier & quicker to manufacture clothing • More Leisure Activities – Higher need for a variety of clothes (athletic, travel attire, etc) • Higher Levels of Education = more money (sometimes) to spend on fashion

17. Factors that slow down Fashion Movement • Poor Economic Conditions: Less money = less fashion • Religion – Some religious groups feels certain fashion leads to temptation and corruption • Disruptive World Events – Ex. During wartime there may be restrictions on materials or amounts of fabric