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Fundamentals of

fashion
Merchandising
Understanding 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


Peak
Height of popularity;
Worn by the majority of
people
(culmination) Decline
Rise
Slowly increases
in popularity
Introduction
New style is
introduced (colors
and textures)

Decreases in
popularity
(saturation)
Obsolescence
Discarded for a
newer style

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

Kurtis

Skirts

Fashion Classics

Fashion Fads

Cycle within Cycles

Recurring Cyclic Fashions

PLAT FORMS SHOES


HOTPANTS

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
Higher $
Royalty

Rich
White collar
Lower $

TRICKLE DOWN

TRICKLE UP

Fashion trends start


at the top of the
social ladder

Fashion trends start


with the young or
lower income groups

Blue collar

TRICKLE
ACROSS

Fashion moves
horizontally through
similar social levels

Trickle-Down Theory
18th-19th Century

Source of fashion
ideas

how quickly the


lower class could
obtain and copy
the elite

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

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

1960s 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 companys image or to expand their
market share.
Expansion businesses can choose to add
either new product items or new product lines.
Modification altering a companys existing
product.
Deletion may occur when a product is no
longer useful, obsolete, not fashionable, or
room is needed for another product.