Millennial’s have a lot to do with fast fashion. They want it all at incredibly low prices. There are several companies that have been able to shorten their lead-time. They bring in merchandise every two weeks. The prices on the clothing are very low but the quality is not always that great. This feels like disposable fashion, you wear it once or twice then go back and get something new. These are definitely not classic, timeless pieces that you can wear forever or would like to.
Technology has become a part of everyone’s life. Indeed, it is in the fashion industry. Many retailers have set up their online stores and are learning new ways to make it appealing to the consumers by offering efficient delivery methods. Technology has become a tool for consumers. From finding the best prices to being able to shop at almost any store from the comfort of your home. 3-D printing has become a big part of the fashion and apparel industry. Many designers have already begun to showcase what they can do with a 3-D printer and a great imagination. According to Time.com 3-D printing has opened the possibilities of using designs that are being used in aerospace and automotive. It has sparked dreams of being able to print our clothes from home that will be able to reflect our mood.
Industry 4.0 is another major trend that will impact the fashion industry. Industry 4.0 will be when everything from systems, data, and machines are all in the cloud. They are integrating the internet with manufacturing. It will help predict trends and boost performances for retailers and manufacturers. It will not only be useful in the retail industry but can be used in several other businesses.
China has been the leading export market for years, now with its increase in production cost, many think that it will not be long before they get demoted. They have recently been talking about making factories in other countries such as Vietnam, Cambodia, Thailand, and Bangladesh. I believe it is an incredibly revolutionizing move for China. They are creating their own factories in other countries known to have lower production cost. This will be very good for them, being able to regulate the companies and make sure that their standards are being met. If China has good ethical values this can be amazing and open up a new door for them as leaders in exporting. It can also bring up several other political issues such as pay restrictions and building permits.
These four trends are defiantly revolutionizing. The “see now, buy now” option has made a whole new market for consumers. Customers want their items as quickly as possible, with the best quality and for the best prices. It was imminent for a revolution to take place.
Have a great day!