Contemporary Fashion Marketing Trends - Assignment Example

Influential Future Fashion Marketing Trends Contemporary fashion marketing trends are evolving rapidly in orderto catch up with consumer demands and identify the consumer needs. Over the next few years, like five to ten years, a significant chunk of the apparel sales with come from emerging markets. The global fashion industry is indeed a dynamic industry that calls for constant evaluation of marketing trends, especially considering the heightened level of competition within the industry. It implies that some contemporary fashion marketing trends will be relevant in the next five years. Although there will be a few fashion marketing challenges in the future, it is worth noting that the future marketing trends will have a significant impact on international business growth (Okonkwo & Palgrave Connect, 2007). This paper explores the contemporary fashion marketing trends that will be prominent in the next 5 years, particularly in the global fashion industry. Why the fashion marketing trends are important Over the next five years, some fashion trends will be influential, especially in the international platform. They will be influential in the sense that technology will play a key role in all aspects of fashion marketing. In essence, the digitization of the fashion marketing industry will revolutionize the industry in the sense that most customers will get the latest fashion updates via online platforms. Although technology has revolutionized the fashion industry on a significant scale, the next five years will see the globalization of the fashion industry. Customers and prospective customers will receive all the information that they require through digital platforms. The contemporary fashion industry players will also conduct most of their marketing via digital platforms in order to reach a global clientele. Social network will be more influential in the fashion industry in the next five years that it is today. Source: Jenni Rivera Fashion (2015) When it comes to sustainability, the contemporary fashion marketing is set to evolve in line with the highly dynamic world and fashion market. As the world advanced into the 21st century, more industries, including the fashion industry, are becoming environmentally conscious. It means that any contemporary or future fashion marketing will have to have environmental considerations. Such kind of fashion marketing will incorporate such aspects as conservation in terms of resource use, social commitment, and reduction of pollution. It will be so because the world is becoming environmentally conscious given the global warming concerns. Customers in the apparel industry will find cloths that reduce environmental harm more appealing than those do that do not lead to environmental conservation. Therefore, future fashion marketing trends will incorporate sustainability reports as a way of informing and appealing to the customers (McKelvey & Munslow, 2009).  Source: Jenni Rivera Fashion (2015) Since the contemporary fashion industry is highly dynamic, future marketing trends will have to be equally flexible to keep abreast of the moving targets. It is evident that people keep on changing their fashion tastes as the years go by. Additionally, one generation may not favor a certain fashion that its predecessor favored. In this regard, future marketing may not be the same as contemporary marketing (Kim, Fiore, & Kim, 2011). Future marketing will move according to the moving targets in the sense that the marketing trend will target the moving population. For example, a vast majority of the Chinese have recently embraced fashion more than their American counterparts have done. It means that the target is gradually moving from the West to the East, necessitating a change in global fashion marketing trends. Besides, the Hispanic American population, which usually has a distinctive fashion sense, is rapidly increasing. Future fashion marketing trends will have to incorporate the demands and needs of various demographic profiles as they shift across the globe. Source: Jenni Rivera Fashion (2015) Challenges that Fashion marketing is likely to face in future Despite the promising future for the fashion industry, it is worth mentioning that fashion marketing is likely to face a myriad challenges in the future. Of the challenges, three are primary to the industry, considering the digitization and shift of the fashion marketing trends towards the retail end. In addition, the industry is currently grappling with the challenge of ensuring environmental sustainability although this may not be one of the major issues in future. Fundamentally, fashion marketing is likely to deal with a complex market in the future. Currently, numerous brands, retailers, and fashion companies are competition for the same market through customized business models. As market complexity intensifies, the marketing of fashion products continues to be a challenge since come marketing models conflict (Okonkwo & Palgrave Connect, 2007). Digitization of the fashion industry has given leeway for the web channel to thrive hence the traditional retail will succumb to the web channel in the next five years. Most of the marketing for the luxury fashion products is through the digital platform. The strategizing of the digital marketing platforms for high-end fashion products is a sure way of eliminating the need for media advertising. Since every company and brand will afford the opportunity to conduct online advertising, the traditional retail is likely to suffer and the companies who do not embrace digitization will face a huge challenge trying to market their fashion products (McKelvey & Munslow, 2009).  Perhaps sustainability will be the greatest challenge for future marketing of fashion products, considering the growing competition and depletion of resources. Since sustainability challenge affects all industries, the fashion industry will have to device ways of reducing overdependence on related industries in order to overcome this challenge. The digital technology has informed contemporary fashion designs but the sustainability of the 3D technology remains a key challenge to the marketing of contemporary fashion products. The high-end fashion products are usually expensive because of the technology that comes into their design. If technology continues to advance, most marketers in the fashion industry will have to grapple with the challenge of sustainability. Impact of challenges of future fashion marketing on international growth Owing to the complexity of future marketing within the fashion industry, most fashion and apparel companies will have to adapt to the challenges in order to foster international growth. In essence, the future marketers of fashion products will apply a unique approach to every brand in full consideration of customer demands. Selling digital products to consumers will not only increase sales, but it will also enhance customer experience across the globe, the net effect will be a boost to international growth by the fashion industry. In fact, the future challenges to future marketing will bring positive results if the industry players handle the challenges wisely. For instance, attaching a sustainability report to every fashion product will boost consumer confidence and loyalty not only to the brand, but also to the company (McKelvey & Munslow, 2009). References Jenni Rivera Fashion (2015). Best Seller. Retrieved from http://www.jenniriverafashion.com/ Kim, E., Fiore, A. M., & Kim, H. (2011). Fashion trends: Analysis and forecasting. Oxford: Berg. McKelvey, K., & Munslow, J. (2009). Fashion Forecasting. Chichester: John Wiley & Sons. Okonkwo, U., & Palgrave Connect. (2007). Luxury fashion branding: Trends, tactics, techniques. Basingstoke: Palgrave Macmillan. Read More