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Introduction to Fashion merchandising
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Fundamentals of fashion
MerchandisingUnderstanding Fashion,
Merchandising,Merchandise Management of Retail, Export
& Buying House.
Fashion
Fashion Accepted by a substantial group of people
at a given time , in a given place.
Understanding Fashion Movement
Fashion movement is the ongoing change in what is considered fashionable from acceptance to obsolescence (the rejection of a fashion in favor of a new one)
A fashion trend is the direction fashion is moving
OBSOLETE
The fashion cycle
• Fashion cycle: The ongoing introduction, rise, peak, decline, and obsolescence in popularity of specific styles or shapes.
• All styles that come into fashion rotate through the fashion cycle.
• Fashion acceptance can be illustrated using a bell-shaped curve.
Overall Fashion Cycle Variations . . . From Flop to Classic
The Fashion Cycle
IntroductionNew style is introduced (colors and textures)
RiseSlowly increases in popularity
DeclineDecreases in popularity (saturation)
ObsolescenceDiscarded for a newer style
PeakHeight of popularity; Worn by the majority of people (culmination)
ALSO KNOWN AS THE MERCHANDISE ACCEPTANCE CURVE
The fashion cycle (cont.)
• The cycles for some styles are exceptions to the bell-shaped curve.• Flops: Fashions that are introduced and expected to sell but
that are not accepted by consumers.• Fads: Temporary, passing fashions that have great appeal to
many people for a short period of time; styles that gain and lose popularity quickly.
• Classics: Styles that continue to be popular over an extended period of time even though fashion changes; styles that remain in fashion year after year.
Kurtis
Skirts
Fashion Classics
Fashion Fads
Cycle within Cycles
Recurring Cyclic Fashions
PLAT FORMS SHOESHOTPANTS
Stages of the fashion cycle (cont.)
Introduction: The first stage of the fashion cycle when new styles, colors, textures, and fabrics are introduced.
The new style may be accepted by a small number of people called fashion leaders.
Promotional activities include fashion shows and advertising in high fashion magazines.
Fashions are produced in small quantities at high prices. Retail buyers purchase limited numbers to see if the style
will be accepted.
Stages of the fashion cycle (cont.)
Rise: The second stage of the fashion cycle when consumer interest grows and the fashion becomes more readily accepted by consumers.
Mass production brings down the price of the fashion, which results in more sales.
Styles are manufactured in less expensive materials and in lower quality construction than the original style.
Promotional efforts are increased in high fashion magazines to heighten consumer awareness.
Retail buyers order items in quantity.
Stages of the fashion cycle (cont.)
Peak (Culmination stage): The third stage of the fashion cycle during which a style is at its height of popularity.
The fashion is demanded by almost everyone because it is now within the price range of most consumers and is mass produced in many variations.
Each retailer tries to persuade customers that its version of the style is the best.
Stages of the fashion cycle (cont.)Peak (Culmination stage)
The style may have a long or short stay at this stage. Short-run fashions: Styles that are popular for a brief period
of time. Fads, usually lasting only one season Accepted and rejected quickly Teenagers’ fashions change the fastest and have the most
trends. Styles are easy for the manufacturer to produce and are
relatively inexpensive to the consumer. Styles typically have more details than seen in classics.
Stages of the fashion cycle (cont.)Peak (Culmination stage)
Long-run fashions: Styles that take a long time to complete the fashion cycle.
Classics, basics, and/or staple fashions Slow introduction, long peak, slow decline Styles have simple lines, minimal detail.
Stages of the fashion cycle (cont.)
Decline: The fourth stage of the fashion cycle when the market is saturated and popularity decreases.
The fashion is overused and becomes dull and boring.
As the fashion decreases in popularity, retailers mark down their prices.
Promotions center around major clearance or closeout sales of the fashion.
Stages of the fashion cycle (cont.)
Obsolescence: The fifth stage of the fashion cycle when the style is rejected, is undesirable at any price, is no longer worn, and is no longer produced.
Lengths of fashion cycles Cycles have no specific lengths. Recurring fashions: Styles which have been in
fashion at one time, gone out of fashion, and come back in fashion again. Fashion trends seem to recur about every generation or
every 20 to 30 years. Fashion cycles are less distinct now than in the
past.
Theories of Fashion Movement
TRICKLE UP TRICKLE ACROSS
TRICKLE DOWN
Fashion trends start at the top of the “social ladder”
Fashion trends start with the young or lower income groups
Fashion moves horizontally through similar social levels
Lower $
Higher $ Royalty Rich
White collar
Blue collar
Trickle-Down Theory18th-19th Century
Source of fashion ideas designers catered
to wealthy Fashion leaders
highly visible elite served as models for lower class
Direction down from elite
class to working class
Change of speed how quickly the
lower class could obtain and copy the elite
Dynamics of change drive for
differentiation and imitation
Mass Market Trickle-Across Essentials
Mass production Newest looks available
quickly Fast-paced
communication and mass media Style information
available to all at same time
Each social group has own fashion leaders
Trickle-Up Theory
Starts with young trendsetters
May be lower income groups
Fashion defined by street wear
Examples may include: Tattooing, body piercing,
“grunge” looks
1960’s Trickle-Across Within group at similar social level Vietnam Civil rights Integration Mass communication Mass media Growing middle class Availability of quick, easy knockoffs Mass production makes fashion
available at all price levels
Merchandise
Types of Merchandise Staple Goods – items that are constantly in
demand by customers. Examples are toothpaste, milk, or bread. Used consistently and replaced on a regular basis Sales are easily predictable because they are bought on
a consistent basis. Convenience Goods – small, inexpensive items
that customers purchase frequently. Examples are gum, bottled water, or magazines. Found in convenience stores, grocery stores or gas
stations.
Fashion Goods – items that are popular at a certain time. An example is clothing. Includes any item that comes in or out of style Retailer will maximize sales by acquiring the
product as it is gaining popularity Seasonal Goods – products that are
popular only at a certain time of year. Examples are swimsuits, boxed chocolates, or snow skis.
The Merchandise Mix Businesses must pay close attention to
their target market and must obtain, develop, maintain, and continually improve upon their merchandise mix. Components of the Mix
Merchandise Mix – made up of all the products that a business sells
Product Line – a group of closely related products that a business sells
Product Items – the products that make up a product line. A specific model or brand
Types of Merchandise Merchandise Mix Strategies
Development – develop new products to bolster the company’s image or to expand their market share.
Expansion – businesses can choose to add either new product items or new product lines.
Modification – altering a company’s existing product.
Deletion – may occur when a product is no longer useful, obsolete, not fashionable, or room is needed for another product.