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The downturn in the economy has given us all a fashion rethink. It’s already been well commented that the downturn in the economy has to a great extent affected the fashion industry. Although recessions occur once every 15-20 years, this recent recession we’re experiencing is going to have a chronic impact on our whole of idea of fashion. We are living in a very pragmatic age now. Not so long ago, that frivolity and decadance were all part of the fashion scene – there was no such thing as too outrageous or too pricy. – you only worried about being accused of being too dreary. It’s different today though : the fashion catwalks and fashion labels are copping a bad press. Even looking at the the more affordable fashion brands, suddenly they’re admonished for sweatshop factories. What went wrong? Why is it that people turning against fashion labels like this?

Not at all. People love fashion, and always will. It is burned into our minds to spot new styles! In fact, looking on the internet there is huge rivalry between online fashion retail merchants (e.g. searching for wholesale fashion accessories) – a signal there is still strong demand and supply. It’s the old way we saw that is dying its death – of being dictated to by the established brands. Fashion has always looked at the public instead of vice versa, and today many issues are stopping us buying from big brands. Firstly, young people are very much more conscious of globalization, and showing off your fashion labels makes you look egotistical and thoughtless in many peer groups nowadays. Secondly, we’re hard up! Style has forever been seen as something of a luxury, not an essential. In a recession, luxury items get hit the hardest. Lastly, people express themselves a lot more individually these days -we don’t want to be told what to wear or how to act, there’s no large “tribe” to assimilate or fit in to, and fashion needs that type of sheep-like thinking to trade in large amounts.

So what does this mean for fashion companies? Like ever, they must change to exist – create a greater range of fashion lines to supply to more corners of the market. If you’re a small shop offering unique fashion lines at an affordable cost, you have a strong business model in spite of the depressing economic months we are in. Nowadays, people are mixing their styles, purchasing from marketplaces and more personal, inexpensive fashion stores.

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