London Fashion Industry Analysis

Industries London’s fashion industries have brought great economic prosper to the Britain’s economy. London has always held a title as one of the world’s greatest “super cities” in the fashion society. London, as of 2011, is ranked as the number one global fashion city because it is one of the most powerful economic cities with leading financial centers. It is considered a superstar city on a global and national scale. It is in competition with other cities such as Paris, Milan, and New York City that all have a high reputation when it comes to fashion (Johnson, 2012). Fashion has a huge part in structuring London’s economy by leaving an impression that drives in a large amount of consumers. According Oxford Economics, in 2009 London’s fashion …show more content…
Advertising serves as a huge economic boost that gives the fashion industries a shortage within their market because of the large amount of purchases. There are surpluses in designers, models, and other famous figures that contribute to the world of advertising. Advertising inputs a wide range of attraction towards the consumers by luring them through persuasion. The intention is to build up the status of the brand to influence and increase purchases of the products. Advertising wasn’t intended just for newly released items or items in general but also sales and promotions on the product. Usually when there are surpluses within an industry there will be a deduction in the amount the product was originally sold in. A deduction in prices will lead to a greater chance of a consumer purchasing that product. Although the product wasn’t sold full priced, there is still an advantage because profit is still coming in depending on how big of a reduction the price was originally. The use of celebrities, famous designers, models, and figures drive more consumers in because the advertisements are shaping consumers’ perspective of that brand and/or product by giving it a glorious view because of the people that are supporting the product are looked upon as role models or …show more content…
About five thousand people attend fashion week like consumers, television and radio crews, photographers and journalists. The use of media extends the popularity of Fashion Week, which lures more people into going to this high event. More attendance is mainly tourist so revenue is added to the tourism industry. London’s fashion week generate 98 million euros as of 2009. The fashion industries are contributing benefits to other aspects to Britain’s economy. The outcome of London’s Fashion Week is an increase in purchases of the products presented at fashion week. It increased the amount of consumers giving London’s fashion industries both a great national and global profile. There are many other fashion exhibits but fashion week contributed greatly to the