1. Celebrity Culture:
Celebrity culture means that common people want to look and feel like celebrities. This affects a shift in consumer behavior and marketing. People are more likely to purchase garments if celebrities are seen wearing them than the consumers’ personal taste. This new celebrity obsession will drive consumers to buy the latest worn garment their most admired celebrity is wearing. This change in consumer behavior will have to be taken into consideration when companies advertise as they will be more likely to sell a product if celebrities are used in the advertising campaign rather than a ordinary model. Celebrities are influencing design, advertising and distribution.
2. Social networking:
Social networking is the fastest growing trend. Most the population are engaged in some sort of social networking whether it be facebook, twitter, pintrest or blogs. Due to social media, word-of-mouth promotion is a new phenomenon, which can either have positive, or negative outcomes for companies. The constant sharing and use of images/ideas/technologies means less promotion and marketing is needed by companies to distribute their products. This is the case as everyone has instant updates and access to the latest trends. Companies do not have to exert their effort into promotion, as consumers are already in the know.
3. Global Financial Crisis:
Due to the current financial issue, many people are left unemployed and redundant. Many people have had to re-budget and re think their expenditure. Many people have had to restructure the way their families live and have had to cut down on many unnecessary expenses. Fashion is one of the first categories that people cut down on. Food and housing are seen as essentials and fashion is seen as a luxury. Thins being the case, people don’t have the money to buy and spend, making it difficult for fashion houses to remain open as they have a dwindling clientele.