fundamentals of fashion merchandising

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Fundamentals of fashion MerchandisingUnderstanding Fashion, Merchandising, Merchandise Management of Retail, Export & Buying House.

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Fashion

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

FashionAccepted by a substantial group of people at a given time , in a given place.

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

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 movingPrashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

OBSOLETE

The fashion cycleFashion cycle: The ongoing introduction, rise, peak, decline, and obsolescence in popularity of specific styles or shapes. All styles that come into fashion rotate through the fashion cycle. Fashion acceptance can be illustrated using a bellshaped curve.

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Overall Fashion CycleVariations . . . From Flop to Classic

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

The Fashion CyclePeakHeight of popularity; Worn by the majority of people (culmination)

RiseSlowly increases in popularity

DeclineDecreases in popularity (saturation)

IntroductionNew style is introduced (colors and textures)Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

ObsolescenceDiscarded for a newer style

ALSO KNOWN AS THE MERCHANDISE ACCEPTANCE CURVE

The fashion cycle (cont.)The cycles for some styles are exceptions to the bellshaped curve.Flops: Fashions that are introduced and expected to sell but that are not accepted by consumers. Fads: Temporary, passing fashions that have great appeal to many people for a short period of time; styles that gain and lose popularity quickly. Classics: Styles that continue to be popular over an extended period of time even though fashion changes; styles that remain in fashion year after year.

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Kurtis

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Skirts

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Fashion Classics

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Fashion Fads

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Cycle within Cycles

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Recurring Cyclic Fashions

PLAT FORMS SHOESPrashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

HOTPANT S

Stages of the fashion cycle(cont.)Introduction: The first stage of the fashion cycle when new styles, colors, textures, and fabrics are introduced. The new style may be accepted by a small number of people called fashion leaders. Promotional activities include fashion shows and advertising in high fashion magazines. Fashions are produced in small quantities at high prices. Retail buyers purchase limited numbers to see if the style will be accepted.

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Stages of the fashion cycle (cont.)Rise: The second stage of the fashion cycle when consumer interest grows and the fashion becomes more readily accepted by consumers. Mass production brings down the price of the fashion, which results in more sales. Styles are manufactured in less expensive materials and in lower quality construction than the original style. Promotional efforts are increased in high fashion magazines to heighten consumer awareness. Retail buyers order items in quantity.

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

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.

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Stages of the fashion cycle(cont.) Peak (Culmination stage)The style may have a long or short stay at this stage.

Short-run fashions: Styles that are popular for a brief period of time.Fads, usually lasting only one season Accepted and rejected quickly Teenagers fashions change the fastest and have the most trends. Styles are easy for the manufacturer to produce and are relatively inexpensive to the consumer. Styles typically have more details than seen in classics.

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Stages of the fashion cycle(cont.) Peak (Culmination stage)

Long-run fashions: Styles that take a long time to complete the fashion cycle.Classics, basics, and/or staple fashions Slow introduction, long peak, slow decline Styles have simple lines, minimal detail.

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Stages of the fashion cycle (cont.)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. Promotions center around major clearance or closeout sales of the fashion.

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Stages of the fashion cycle(cont.)

Obsolescence: The fifth stage of the fashion cycle when the style is rejected, is undesirable at any price, is no longer worn, and is no longer produced.

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Lengths of fashion cyclesCycles have no specific lengths. Recurring fashions: Styles which have been in fashion at one time, gone out of fashion, and come back in fashion again.

Fashion trends seem to recur about every generation or every 20 to 30 years.

Fashion cycles are less distinct now than in the past.

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Theories of Fashion MovementHigher $ Royalty

Rich White collar Lower $ Blue collar

TRICKLE DOWNFashion trends start at the top of the social ladder

TRICKLE UPFashion trends start with the young or lower income groupsPrashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

TRICKLE ACROSSFashion moves horizontally through similar social levels

Trickle-Down Theory18th-19th Century

Source of fashion ideas designers catered to wealthy

Change of speed how quickly the lower class could obtain and copy the elite

Fashion leaders highly visible elite served as models for lower class

Dynamics of change drive for differentiation and imitation

Direction down from elite class to working classPrashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

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 leadersPrashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Trickle-Up Theory

Starts with young trendsetters May be lower income groups Fashion defined by street wear Examples may include: Tattooing, body piercing, grunge looks

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

1960s Trickle-Across

Within group at similar social level Vietnam Civil rights Integration Mass communication Mass media Growing middle class Availability of quick, easy knockoffs Mass production makes fashion available at all price levelsPrashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Merchandise

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Types of MerchandiseStaple Goods items that are constantly in demand by customers. Examples are toothpaste, milk, or bread.

Used consistently and replaced on a regular basis Sales are easily predictable because they are bought on a consistent basis.

Convenience Goods small, inexpensive items that customers purchase frequently. Examples are gum, bottled water, or magazines.

Found in convenience stores, grocery stores or gas stations.

Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Fashion Goods items that are popular at a certain time. An example is clothing.

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. Examples are swimsuits, boxed chocolates, or snow skis.Prashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

The Merchandise MixBusinesses must pay close attention to their target market and must obtain, develop, maintain, and continually improve upon their merchandise mix.

Components of the MixMerchandise 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. A specific model or brandPrashanth KC- Fashion Merchandising, AD VI, NIFT- Bengaluru.

Types of MerchandiseMerchandise Mix Strategies

Development develop new products to bolster the companys image or to expand their market share. Expansion businesses can choose to add either new product items or new product lines. Modification altering a co

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