Fundamentals offashion 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 . and obsolescence in popularity of specific styles or shapes. • Fashion acceptance can be illustrated using a bell-shaped curve. . rise. peak.The fashion cycle • Fashion cycle: The ongoing introduction. • All styles that come into fashion rotate through the fashion cycle. decline. 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 . • Fads: Temporary. • Classics: Styles that continue to be popular over an extended period of time .) • The cycles for some styles are exceptions to the bell-shaped curve. passing fashions that have great appeal to many people for a short period of time.The fashion cycle (cont. styles that gain and lose popularity quickly. • Flops: Fashions that are introduced and expected to sell but that are not accepted by consumers. Kurtis . Skirts . Fashion Classics . Fashion Fads . . Cycle within Cycles . Recurring Cyclic Fashions PLAT FORMS SHOES HOTPANTS . The new style may be accepted by a small number of people called fashion leaders. .) Introduction: The first stage of the fashion cycle when new styles.Stages of the fashion cycle (cont. textures. Promotional activities include fashion shows and advertising in high fashion magazines. colors. and fabrics are introduced. Retail buyers purchase limited numbers to see if the style will be accepted. Fashions are produced in small quantities at high prices. Promotional efforts are increased in high fashion magazines to heighten consumer awareness.) Rise: The second stage of the fashion cycle when consumer interest grows and the fashion becomes more readily accepted by consumers. Retail buyers order items in quantity. Styles are manufactured in less expensive materials and in lower quality construction than the original style. which results in more sales. Mass production brings down the price of the fashion.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. Styles are easy for the manufacturer to produce and are relatively inexpensive to the consumer. Styles typically have more details than seen in classics. Short-run fashions: Styles that are popular for a brief period of time. .) Peak (Culmination stage) The style may have a long or short stay at this stage. Fads. usually lasting only one season Accepted and rejected quickly Teenagers’ fashions change the fastest and have the most trends.Stages of the fashion cycle (cont. Classics. basics. .) Peak (Culmination stage) Long-run fashions: Styles that take a long time to complete the fashion cycle. long peak. minimal detail. slow decline Styles have simple lines. and/or staple fashions Slow introduction.Stages of the fashion cycle (cont. Stages of the fashion cycle (cont. Promotions center around major clearance or closeout sales of the fashion.) 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. is undesirable at any price.) Obsolescence: The fifth stage of the fashion cycle when the style is rejected. and is no longer produced. . is no longer worn.Stages of the fashion cycle (cont. and come back in fashion again.Lengths of fashion cycles Cycles have no specific lengths. Recurring fashions: Styles which have been in fashion at one time. Fashion cycles are less distinct now than in the past. Fashion trends seem to recur about every generation or every 20 to 30 years. gone out of fashion. . 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. “grunge” looks . body piercing. easy knockoffs Mass production makes fashion available at all price levels .1960’s Trickle-Across Within group at similar social level Vietnam Civil rights Integration Mass communication Mass media Growing middle class Availability of quick. Merchandise . milk. Found in convenience stores. Examples are toothpaste. . bottled water. grocery stores or gas stations. or bread. or magazines. Convenience Goods – small. Used consistently and replaced on a regular basis Sales are easily predictable because they are bought on a consistent basis.Types of Merchandise Staple Goods – items that are constantly in demand by customers. Examples are gum. inexpensive items that customers purchase frequently. 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. boxed chocolates. Fashion Goods – items that are popular at a certain time. or snow skis. Examples are swimsuits. An example is clothing. . A specific model or brand . develop. maintain. 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. and continually improve upon their merchandise mix.The Merchandise Mix Businesses must pay close attention to their target market and must obtain. obsolete. not fashionable. . or room is needed for another product. Modification – altering a company’s existing product. Deletion – may occur when a product is no longer useful. Expansion – businesses can choose to add either new product items or new product lines.Types of Merchandise Merchandise Mix Strategies Development – develop new products to bolster the company’s image or to expand their market share.