The fashion industry is one that is full of consumer demand, timeframes and seasonal shifts that can happen in a matter of weeks. As shoppers demand an influx of new trends and looks that they can get their hands on at the right price, the industry has forged its own way to release new clothes at exactly the time consumers want them. Fast fashion is a concept that is growing in popularity year after year, and it’s because consumers can buy a continuous cycle of trend-led clothing instead of waiting for the usual seasonal releases.
Often gracing the wardrobes of celebrities and social media influencers, the likes of Manchester’s fashion startups including Missguided, Boohoo and PrettyLittleThing are gaining the attention of the country’s younger generation.
Brands like these are at the forefront of a new wave of fast fashion, with a digital storefront advertised across the likes of Facebook and Instagram. Pushing out desirable looks at affordable prices, entrepreneurs in the fast fashion industry have taken skills from the textiles industry to map the desires of their digital consumers. The companies are able to react quickly to trends and have them on the website ready to sell in a week or even less.
The growth of fast fashion
Missguided alone has seen a huge increase from £8m to £55m turnover in just 3 years, demonstrating the demand for fast fashion and what it entails. Customers can have the latest trends hanging in their wardrobes as soon as they’ve dropped, meeting that demand for catwalk and celebrity-inspired looks without the wait. The fast fashion industry has grown 21% over the last 3 years, with ASOS, New Look and Very accounting for 47% of the market share.
Fast fashion brands began by acting as the link between manufacturers and retailers, but now thanks to the world of e-commerce and social media, these brands can connect directly with their consumers. With brands like In The Style recently receiving multi-million pound investments, it’s clear that fast fashion is a success within its market. This can be credited to celebrity endorsements as well as brands like In The Style meeting expectations for speedy fashion.
PrettyLittleThing recently launched a collection with Kourtney Kardashian, while Missguided have released collaborations with model Jourdan Dunn and social media influencer Carli Bybel. In The Style have had longstanding collaborations with reality TV stars Binky Felstead, Charlotte Crosby and Billie Faiers. It’s moves like this that push the brand forward and create an even bigger desire for the clothes. 60% of fashion and beauty brands have influencer marketing strategies in place.
What’s more, many fast fashion brands are taking steps to introduce ethical and environmental initiatives after coming under fire in recent years, becoming more transparent for their audience.
Fast fashion outlets are able to help retailers meet their demands, producing new trends and looks regularly and with a quick turnaround. So, it doesn’t mater what season it is, as long as you have the trending styles right at your fingertips.