Discussions about the fashion industry thread

[emptym]

Anna Wintour predicts end of fast fashion. I hope she's right, but doubt it:

Wintour said coming out of the pandemic, she expects consumers to focus more on shopping at brands and designers that they feel reflect their own values and those that are more sustainability-minded.

"I think they are going to care deeply about sustainability," she said, and "about the value of what they are buying."

One of the most influential people in fashion hinted that the coronavirus pandemic could end the era of inexpensive, disposable fashion popularized by Forever 21 and H&M

"I think everybody is rethinking what fashion stands for, what it means, what it should be."

www.businessinsider.com

 

[penanceroyaltea]

I think it’ll be the opposite. People may be less inclined to spend money on clothes

 

[sushijerk]

Of course Anna will say that. Zara advertising doesn't pay her expense account.

 

[Patrick R]

I think it’ll be the opposite. People may be less inclined to spend money on clothes

And already I'm seeing that people are less concerned about appearing professional. People that still wore jackets and ties in my world are now legitimately wearing pajama pants and saying that they aren't going back.

 

[clee1982]

Yup, and while few might dress up WFH, no way I could with a kid and a never stop shedding cat... and I’m the only guy who wear a tie to work everyday to start with...

 

[imatlas]

Anna Wintour predicts end of fast fashion. I hope she's right, but doubt it:

Wintour said coming out of the pandemic, she expects consumers to focus more on shopping at brands and designers that they feel reflect their own values and those that are more sustainability-minded.

"I think they are going to care deeply about sustainability," she said, and "about the value of what they are buying."

One of the most influential people in fashion hinted that the coronavirus pandemic could end the era of inexpensive, disposable fashion popularized by Forever 21 and H&M

"I think everybody is rethinking what fashion stands for, what it means, what it should be."

www.businessinsider.com

Right after they finish socially distancing while wearing masks and protecting the vulnerable.

 

[crazn]

I think it’ll be the opposite. People may be less inclined to spend money on clothes

and you can already start to see the insidious manipulation... please buy our clothes at full price!

 

[cb200]

What a load. You're just saying that because you want a discount.
When's the last time you took a 40% pay cut on your work because it was end of the quarter?

 

[crazn]

What a load. You're just saying that because you want a discount.
When's the last time you took a 40% pay cut on your work because it was end of the quarter?

Are retail MSRP too high?

Op-Ed | Want to Fix the Fashion System? Lower Prices.

If it costs $4,000, few people will buy your coat at full price, regardless of when it’s delivered, argues Eugene Rabkin.

www.businessoffashion.com

I'm not averse to paying full price especially zara full price. But since u linked this article yourself. this is the other elephant in the room.
a lot of the retailers are expecting consumers to fork out for highly inflated MSRP.
Some folks have bought this koolaid and this has led to the expansion of the fashion industry... leading to greenhouse gas emission pollution etc etc.
its not just a fast fashion thing since a good example is the luxury fiber of cashmere. cashmere has expanded in production over the years leading to the degradation of the high altitude grasslands that the goats destroy as more goats leads to more ripping out of roots which leads to soil erosion etc etc.
so everybody talks about how ridiculous the cycle is, too many fashion seasons, too much pressure on designers to create...
thats only going to work if the economics allows for the reduction in intensity of production of novelty. But I'm not so sure businesses are going to rubber stamp a reduction in revenues because of mental health issues or inability to keep up.
which means either everybody starts paying full price but buys very few items or everybody moves down the value chain.
I really don't think the former will happen no matter how many calls or pleas anna wintour puts out.
Also working from home will reduce the need for front facing clothing. as evidenced by other people's posts. This will spill over into makeup and possibly grooming segments too.

 

[cb200]

The problem is over production. Irresponsible production is helped along by a reliance on discounting by retailers and consumers expectation.

 

[clee1982]

you can't really fight over supply, some will have to go under, what would come out of it, not sure

 

[Zamb]

I'm not averse to paying full price especially zara full price. But since u linked this article yourself. this is the other elephant in the room.
a lot of the retailers are expecting consumers to fork out for highly inflated MSRP.
Some folks have bought this koolaid and this has led to the expansion of the fashion industry... leading to greenhouse gas emission pollution etc etc.
its not just a fast fashion thing since a good example is the luxury fiber of cashmere. cashmere has expanded in production over the years leading to the degradation of the high altitude grasslands that the goats destroy as more goats leads to more ripping out of roots which leads to soil erosion etc etc.
so everybody talks about how ridiculous the cycle is, too many fashion seasons, too much pressure on designers to create...
thats only going to work if the economics allows for the reduction in intensity of production of novelty. But I'm not so sure businesses are going to rubber stamp a reduction in revenues because of mental health issues or inability to keep up.
which means either everybody starts paying full price but buys very few items or everybody moves down the value chain.
I really don't think the former will happen no matter how many calls or pleas anna wintour puts out.
Also working from home will reduce the need for front facing clothing. as evidenced by other people's posts. This will spill over into makeup and possibly grooming segments too.

th power and influence of people like Wintour has seriously eroded and im not sure how much one should put into what they say...............they too are seeking their own survival

I laugh even at this partnership with Amazon, which goes against the very principles that vogue stood for.

One of the biggest concerns now that no one is talking about is that before the pandemic hit, climate change and cleaning up our environment was paramount. the pandemic came and there has been a significant increase in the production and distribution of PPE MADE FROM PLASTICS.
walk on the streets here in NY and there is an abundance of disposable masks littering many streets. these masks are NOT BIODEGRADABLE. We will have to figure out where and how are these going to be properly disposed of.
Are these gonna end up in landfills, our seas?
Where?
I understand we have to save lives, and that is first and foremost, but these disposable masks and the materials used to make then are going to be an environmental problem

 

[cb200]

You can fight overproduction but there isn't one big lever to pull. I can't see any of fashion's or the apparel business's negative material impact that is assisted by the reliance and now baked in system of discounting.

 

[willy cheesesteak]

Bro, if I have to read another 10 pages of ZaraTalk...

 

[dieworkwear]

Anna Wintour predicts end of fast fashion. I hope she's right, but doubt it:

Wintour said coming out of the pandemic, she expects consumers to focus more on shopping at brands and designers that they feel reflect their own values and those that are more sustainability-minded.

"I think they are going to care deeply about sustainability," she said, and "about the value of what they are buying."

One of the most influential people in fashion hinted that the coronavirus pandemic could end the era of inexpensive, disposable fashion popularized by Forever 21 and H&M

"I think everybody is rethinking what fashion stands for, what it means, what it should be."

www.businessinsider.com

*ducks willy's ire*

I think the outcome of this pandemic is going to be shaped more on the supply side than the demand side. I don't know how consumers will spend their money in the future, but I don't think it's as easy to say that recession -> people will spend less money -> fast fashion will be one of the winners.

I was surprised to see in an NYT article a while ago that fast fashion companies are among the hardest hit in this pandemic (relative to the rest of the fashion market, as well as other industries). As discussed earlier, I think this is partly because fast fashion retailers depend more on foot traffic. The other industries that are hard hit tell a similar story: movie theaters, fine dining, footwear stores, etc. The companies that are faring better are those that sell things that can be delivered (e.g. online grocers, ebooks, video streaming, etc).

Here's a chart using credit card data, which shows the change in spending.

How the Virus Transformed the Way Americans Spend Their Money (Published 2020)

Airlines and movie theaters are hurting. Grocery stores and streaming services are raking it in.

www.nytimes.com

Fast fashion retailers work on very thin margins and high volume. Relative to the rest of the fashion market, they depend more on in-store sales than online sales. People are reluctant to spend $5 on shipping on a $5 shirt. And the margins aren't big enough for fast fashion retailers to offer free shipping unless you spend a certain amount of money (at Zara, the minimum online spend is $50). Let's not forget that returns are a huge cost for retailers -- the cost of shipping something back, processing the return, and restocking/ managing inventory.

I think on the long-term, consumers will eventually return to buying fashion. But the market may change in terms of ownership. More than whether this will be fast fashion vs designer fashion, I suspect the bigger story will be about structure and ownership. How much fashion will shift from brick and mortar to online sales, and how much of the market will be dominated by either small or big companies.