Fashion interacts with several economic, financial, psychological, and sociological factors, which reinforce the importance and need for fashion companies to understand their customers’ behaviors. Fashion participates in, find inspiration from, and adapts to the evolution of societies as it manages the relationships between eager fashion shoppers and competitive fashion firms.
Today’s fashion shoppers are more informed and, aware of companies’ practices—and more demanding too. Facing this challenging demand, fashion managers use different elements in their marketing mix to stimulate these shoppers’ appetites and convince them to purchase the items produced by their fashion brands. To attract customers, then create and affirm their loyalty, fashion companies rely on fashion benefits. Fashion adds substantial value to products because it enables shoppers to develop, improve, and play with their self-images. Beyond the well-established symbolic and experiential benefits offered by fashion, managers should pursue ethical benefits. Ethical apparel and accessories represent a significant new stake to captivate fashion shoppers.
Fashion has always entailed fluctuations, but the changes occurring today—including new distribution channels, new means of communication, and growing ethical concerns—demand greater adaptation and reactivity by customers, to maintain their fashionable image, and by firms, to continue to offer attractive fashionable apparel and accessories while continuing to lead the industry and outperform their competitors worldwide.