The fashion industry is a multi-billion dollar global enterprise that includes design, manufacturing, distribution and sales of clothing. It is dominated by monopolistic competition as designers and brands copy trends in order to enter the market faster than their competitors.
Traditionally clothes were sold in retail bricks-and-mortar boutiques and large department store. Today there are also catalogs and television/cable stations that sell fashion.
Nike
Nike designs, develops, markets and sells a broad range of athletic footwear, apparel and sports equipment. Its products are sold worldwide through a combination of Nike-owned retail stores; Nike-owned digital platforms; and a mix of independent distributors, licensees, and sales representatives.
The company has been making significant changes to its business model in recent years and is reimagining the way it distributes its products to consumers. This includes creating a technology ecosystem that supports the shift from wholesale to direct-to-consumer (DTC) sales.
Nike has also been enhancing its supply chain with investments in automation, modernization, sustainability and innovative new manufacturing methods. It has even acquired companies that focus on bringing technology into the product development process, including Datalogue. These acquisitions have helped Nike integrate data from its app ecosystem, supply chain and enterprise systems in a fast, seamless, easily accessible and standardized platform. This has helped the company to ramp up its backend capabilities, allowing it to capture more of the demand generated by its industry-leading personal experiences.
Changing Rooms
A Changing Room, also known as a Fitting Room, is a place where someone can try on clothes. Typically, they are located in department stores.
The Changing Room is a very important part of the retail experience, because it helps shoppers to make sure their purchase will fit properly and look good on them. It is also an excellent tool for customer-associate interaction.
Several retailers use virtual fitting rooms to help customers choose items that will fit their body type and shape. These services are growing in popularity as people want to shop online more often and they are looking for a convenient way to find what they need.
In addition to enhancing the shopping experience, virtual dressing rooms also collect customer data that can be used for marketing campaigns. They can be an effective tool to reduce customer frustration and increase customer loyalty. This is a major market opportunity for virtual dressing room service providers.
Fashion Weeks
Fashion Weeks are events that allow designers to showcase their seasonal collections to the public. They typically last for a week, and are organized twice a year in the main fashion capitals.
These fashion shows are primarily attended by buyers who are responsible for securing new lines for major department stores and retailers. However, other designers also attend these shows to get a feel for what the current trends are.
This is especially true for younger designers who often need the pressure of a fashion show to finalize proportions and colors for their next collection.
These days, Fashion Weeks are held in several cities around the world. They occur twice a year, once for Spring/Summer and once for Fall/Winter.
Brands
The fashion industry is one of the most dynamic in the world, with new inventions every day. Brands need to be constantly working on improving their position and gaining a larger market share to remain successful.
In the past, fashion retailing was dominated by large fashion houses, large department stores, and catalogs. This all changed in the late 20th century with the rise of the Internet and online retailing.
Today, brands create multiple collections in a year, from spring, fall, and couture to resort and pre-collections. These are marketed in magazines, on television, and in stores.
One trend is fast fashion, where designs are brought from the runway to the store immediately. This is a way of capturing current trends quickly and can save time. It has a place in the industry, but it also has its own issues.
