The fashion world is always changing. However, in the past few years it has changed more than ever, from fast fashion to the always growing popularity of online shopping. People are more aware of pricing than ever. Consumers also have more power because big businesses typically match their competitors sales and prices. Shopping malls and boutiques have a hard time competing with the sheer convenience of online shopping and the high demand for deals.
Fast fashion releases new items so quickly, it’s hard for small businesses to keep up with the variety. Then there’s the low pricing, because of the quality, which can make a huge difference.
Since more and more consumers are turning to online shopping, shipping costs are another factor. Big businesses can eat the cost of free shipping and returns. It’s much harder for small businesses to offer the same deals, from shipping to pricing of goods.
Today, fast fashion, seasonal collections and online shopping have a huge impact on small fashion businesses more than ever. Brynn Capella is currently considering many changes to the business to remain competitive and grow. The main change is to the cycle of how she releases new products. Every year she has been creating two new collections, a spring/summer and fall/winter. Each collection includes six new colors, these colors are a new variant of brown, black, blue, green, red, with a pop of color.
If she can just introduce new colors that she doesn’t have and remake some of her popular colors in the new styles she releases, this will drastically change the way she can do business.
It will give her more freedom to create new products and introduce them in more leathers and more colors than ever before. The classic way of creating collections for every season no longer works in the way the fashion industry is currently for small businesses.
Corporations can continue to run their businesses this way, but they have more resources to always be making large lines of fashion products either with fast fashion or in department stores. While corporations can continue to create new collections for every season or every few weeks like usual even they have had change the way they do business to stay competitive. The fashion industry is always transitioning and it will be interesting to see what’s next.