New consumer Behavior- fewer, Unique and Custom made
"Why the pandemic is changing fashion and how its impact on fashion will be long lasting and far reaching – both for the fashion industry and the retail and consumer market,” said James Larkin, Vice President of Strategy and Innovation at The Business of Fashion”, in a statement. “We have witnessed a major shift in consumer behavior and the rapid shift in shopping behavior that has resulted in unprecedented levels of consumer sentiment and unprecedented levels of uncertainty for brands and retailers.” The Business of Fashion has conducted an extensive survey of the fashion industry during the pandemic and found that the most immediate impact has been on the retail and consumer industry, as consumers are choosing to make fewer purchases and also making more unique purchases such as custom-made items or new product launches.
The New Boss : Online presence
The pandemic has also impacted the fashion industry in the long term, with a decrease in in-store traffic and a rise in online shopping from shoppers who are now able to purchase clothing by the hour and not just by the season. The increased reliance on social media and the internet for purchasing has also meant that there is much more visibility and accessibility than ever before to new fashion trends. The Business of Fashion also report that fashion consumers also have a significant appetite for content and information on fashion, as consumers share their findings on social media and are now taking on the role of influencers in their own right. This means that fashion retailers are starting to follow as well as lead social media trends and share that content with their customers.
Internet is the primary source of Information
This has seen a rise in the consumption of fashion content on social media, and the number of searches for fashion-related topics on Google has also increased. A study of the top 100 fashion brands on Instagram found that the most popular brands have seen a rise in the amount of content posted and the time that consumers are spending on the app. A study by the Global Fashion Trends Report found that there is a growing appetite for content and that the internet is becoming a primary source of information for fashion consumers. The study found that 60% of consumers have become more fascinated with fashion news and content because of the rise of social media sites. Consumers are now using both personal and professional social media channels to gain fashion and beauty knowledge. On social media sites like Twitter, Facebook, Instagram and Pinterest,
Trend flow through social media
Fashion retailers and brands share information about new styles and trends, and about their products and services. This information is then used by the public. Online fashion trends are also popular with fashion influencers and style bloggers because of free advertising opportunities online, such as sponsorship, partnerships and sponsorships. This trend is popular with fashion brands because it ensures a steady flow of followers to the brand’s social media pages. One study found that the top 10 fashion brands in the United States have more than 10.5 million fans on their social media pages. These brands use social media to give their followers information on the latest trends in fashion. Another study estimated that by 2020 online fashion sales will account for 22.1% of total retail sales and that the online fashion market is expected to reach $175.5 billion. This figure is expected to grow at an average annual rate of 7.9% between 2020 and 2026. This growth is expected to be driven by the increased use of social media and mobile devices by consumers. As consumers access social media, there is a corresponding increase in online fashion social media posts. Over the last five years, social media users have uploaded a total of 3.1 billion photos of themselves in which they are in a garment or outfit. This trend is due to the increased use of social media by consumers. As people use social media more often, they tend to post and upload more photos of themselves in apparel, which results in increased visibility on social media and the generation of more sales.