Economic, Economic And Economic Factors In The Fashion Industry

The development of the fashion industry and trends are highly dependent upon the economic factors such as the recession, inflation, and economic growth. During bad economic times, it was hard for customers to keep up with the latest fashion trends, so most people cut down their purchasing on clothes. Some of the fashion brands tried to collaborate with high-end brands in some collections instead of surviving by themselves. Several factories reduced the cost by changing materials and making garment line production simpler. According to Sproles (1979), “fashion is considered to be a temporary cyclical phenomenon adopted by consumers for a particular time”, it turns out that fashion never goes away, it would come back in a short cycle whether good or bad economic times. It could be argued that economic factors impact the fashion industry and trends in different ways at different periods of time. The fashion market is a sensitive industry in regard to changes in the cultural, political and economic factors. Historically, economic factors had an effect on the apparel industry and influenced the cycle of fashion, especially in a recession. Zilka and Paula …show more content…
The Great Depression started during the late of the 1920s and lasted until the late 1930s. It was the longest and most worldwide depression of this century. Many industries extremely affected by this crisis, especially fashion industry. Temin (2010; 115) described after the Great Depression spread all over the world, international trade decreased, but prices of fashion products did not change. This situation affected the sales of the brand because the consumers could not afford this price while their income was lower. After all, apparel industry had to find a way to survive in this period, which is the mass