Fast fashion, a term frequently heard in today’s apparel industry, is an expression coined to describe a rapidly growing area of the market. So what is fast fashion and why is it such a hot trend in retailing. H & M, Forever 21 and the Spanish retailer Zara are all businesses that are reaping huge rewards in this evolving market sector.
These retailers spot current trends on show in the spring and the fall fashion collections and have affordable versions, inspired by the runway available in their stores within a very short period. Fast fashion retailers can have a fashion item in their stores within weeks, not months. They generally have access to manufacturers that will express produce their range to be marketed at an affordable price, which for today’s budget conscious consumer is extremely appealing. As a result, these companies are reporting sustained growth and are opening new stores in cities across the US, just as other high street retailers are closing up shop.
So what does this mean for the independent retailer and does it create opportunity or just increase competition? The fact is, many of the manufacturers that supply these retail giants are the very same sources that supply the fashion wholesalers at the regional fashion marts across the US. With a little bit of research, the independent boutique owner can often source versions of the same styles. A word of caution, when buying from these vendors make sure that what you are buying is a production item based on current styles and does not violate copyright, if you are not sure you might want to get something written to that effect from the vendor.
