Consumer trends influencing fashion brands

If we take a closer look at current consumer trends, it is immediately apparent that a few of the most important stand out among them. They are directly related to the way modern people think, and are influenced by issues such as the increasing interest of people, especially young people, in matters of sustainable production, caring for the environment or the transfer of fashion to the online sphere.

Current consumer trends in the fashion market primarily include:

• Increased customer expectations – Nowadays, customers have increasingly high expectations from outlets, not only when it comes to buying clothing and fashion goods. They are particularly keen on the shortest possible order processing time, which saves them considerable time. Technologies including RFID, clothing tracking, augmented reality, electronic tags – all designed to provide customers with further information – and the promise of same-day delivery have helped to significantly improve the customer experience. A better customer experience naturally leads to higher customer retention, meaning that brands that give the best overall experience to their customers are more likely to retain business, even though their products may not be as high quality or competitively priced as some other outlets.
• Sustainable fashion – Lately, there has been a very strong emphasis on sustainability in fashion, which is also reflected in the brands’ position in the market. This is particularly contributed to by a number of social media platforms, in which it is increasingly possible to notice urging a boycott of brands (even popular ones) that do not apply the philosophy of sustainability in production or practice the trend known as fast fashion. The growing popularity of such behaviour has also been demonstrated by a number of recent research studies. A survey by McKinsey & Company[1] found that consumers radically changed their behaviour during the COVID-19 crisis, a change that was in line with sustainability goals, with 61% of respondents saying they had done everything possible to buy products with environmentally friendly packaging. 65% of respondents also said they would buy higher quality clothing that would last longer, and a significant number of 71% said they would throw away articles of clothing less often. This indicates a shift toward more sustainable fashion. Such a trend among consumers is prompting fast fashion brands in particular to rethink their strategies and supply chains, which have received a bad reputation for, among other things, inhumane conditions in factories located in poorer countries.
• Online shopping – Online shopping is already a fundamental cornerstone of fashion retailing, and all major brands have adapted to the shift in climate. The global pandemic has actually forced brands to increase their online presence, forcing innovation in digital solutions in a world where in-person shopping has virtually ceased to exist. This includes all sorts of technological innovations (such as 3D product visualization, which makes it possible to see a product as accurately as possible before purchase). The shift to virtual reality has also forced many brands to focus on direct-to-consumer (D2C) sales, increasing competition in the ecommerce world. As you can see, fashion’s online presence is now a key aspect that audiences have deemed essential for a brand to meet their expectations.
• Enhanced customization – With an increasing emphasis on individuality, personalization is sure to become a huge driving force in consumer choices. Consumers seem to be tired of fitting in with the latest style or trend, and many have decided to go their own way to create their own unique and inimitable fashion sense. This is particularly evident in the world of 3D printed products and customizable gifts, as well as in the inclusion of online and digital stylists in luxury brands. Such a dedicated personal stylist can, for example, recommend products based on recent purchases or declared style preferences. Such personalization, however, requires an enormous amount of data collection and maintenance. This data is used for everything from recommending products to customers to determining their buying habits. For this reason, it can be difficult especially for smaller brands, which may not be able to cope with collecting such an amount of data. Also, all of this data must be stored securely, in compliance with GDPR (General Data Protection Regulation) and other data regulations. This may be something that must be overcome for smaller brands to implement their own customer personalization.
• Purpose driven consumerism – Goal-oriented consumerism is defined by brands that include a core message or moral stance as part of their brand. By incorporating a message or specific mission, fashion brands can connect with customers on a moral level to drive a positive image as well as sales. Purpose-driven consumerism has been gaining ground in recent years. Consider that in a recent study, as many as 48% of consumers surveyed expressed their opposition to brands that do not have social views that coincide with their personal ones. 42% of respondents also said they were moving away from brands because of frustration with their response to social issues. This shows the impact of having a brand goal that aligns with the views of the majority of customers. Brands should pay increasing attention to this issue in order to expand their target audience. A good example of a brand that has adapted to this strategy is Rihanna’s Fenty Beauty, which, by hiring plus-size models and offering plus-size clothing, has demonstrated their size-inclusion.
• Non-conventional buying channels – Novelties always attract curious people, and this has never been truer for the fashion industry. While people are increasingly choosing online shopping over buying in stationary stores, the online space is offering newer and improved solutions to sell products in a way that best suits consumers. Following this lead, the fashion industry has recently begun to develop a fascinating trend toward a sales method called live commerce. Live commerce is essentially combining online retailing with live streaming, bringing the online shopping experience closer to real life. Online activities such as these using video, are proving to be a hit in the industry, and with special events such as influencer broadcasts helping to sell products to an already gained audience, this space will continue to grow in the future[2].

The mentioned trends unquestionably contribute to the success of fashion brands, as long as they adapt their performance strategy to them. While some of these trends may only become commonplace in the next few years, early adopters will certainly benefit from being at the leading edge of consumer needs. Fashion brands that listen to consumers almost always come out on top, accelerating the eventual shift away from practices such as fast fashion to a more sustainable, technology-driven and personalized industry.

[1] McKinsey & Company “Survey: Consumer sentiment on sustainability in fashion” https://www.mckinsey.com/industries/retail/our-insights/survey-consumer-sentiment-on-sustainability-in-fashion

[2] Netguru “8 Consumer Trends That Affect Fashion Brands” https://www.netguru.com/blog/consumer-trends-affecting-fashion-brands