The journey of fashion retailing has gone through a magical transformation during the past years. In earlier times, people used to go to a trading post to shop. Later these posts evolved into general stores where items from food to fabric were sold. With no readymade apparels available, only fabric was sold, which was tailored into garments with no knowledge of fashion. With the span of time, general stores were accompanied by limited line stores selling clothes.
The driving force behind the transformation of the retail industry is the customer's emphasis on fashion. The attributes of the customer dominate the market, generate sales, and manipulate the profit margins of retailers. Fashion retailing is a consumer goods market characterized by short product life cycle, consumer's changing choices, and cut-throat competition. Cities such as New York, London, Paris, and Milan lead as fashion capitals because they are capable to acquire information on future trends, upcoming trends in advance, and fashion themes. They interpret the collected information, and prepare their collections by analyzing the interpreted information.
Fashion retailing has changed the way global retail industry functions. In the coming years, it will grow beyond the realm of apparels, permeating many other categories. Success in this segment comes to those retailers who focus on the lifestyle choices of the customers rather than simply attempting to market their products.
The driving force behind the transformation of the retail industry is the customer's emphasis on fashion. The attributes of the customer dominate the market, generate sales, and manipulate the profit margins of retailers. Fashion retailing is a consumer goods market characterized by short product life cycle, consumer's changing choices, and cut-throat competition. Cities such as New York, London, Paris, and Milan lead as fashion capitals because they are capable to acquire information on future trends, upcoming trends in advance, and fashion themes. They interpret the collected information, and prepare their collections by analyzing the interpreted information.
Fashion retailing has changed the way global retail industry functions. In the coming years, it will grow beyond the realm of apparels, permeating many other categories. Success in this segment comes to those retailers who focus on the lifestyle choices of the customers rather than simply attempting to market their products.