Retail is a place where dream and fulfilment combine as the manufacturers present the things which are widely in demand of the customers and the people at large get what they want. Therefore, the retail sector provides a platform for the customers to get the things of their choice while it allows the manufacturers to sell their products, earn profit, evaluate behavior of the customers, develop strong engagement with the consumers, judge the market trends, take a clue about moving forward with the business, study the level of competition in the market, get the idea what others in the field are doing, have incentive to introduce innovative and modern ideas in the form of design, pattern, style, stuff and other such things to stand out in the market and keep hold of niche for themselves in the market that is full of competition.
The retailing has some sub sectors which are as under;
WHAT ARE HIGHSTREET CHAIN STORES?
The Highstreet chain stores offer an opportunity to the people to have ready-to-buy clothes as it requires no such hassle that is necessary for custom-made clothes to be get ready by fashion designers. Highstreet fashion’s popularity among the people particularly among the women is ever growing having no end in sight. Though it is facing challenges particularly from the online shopping but its viability remains important as people love to visit stores to have direct contacts with the things of their like.
High street retailing developed with the industrial revolution in Europe when finished products began to roll out into the market and new avenues of businesses were opening and the people began to get associated in variety of market sectors. The Victorian era was the period in Great Britain when market stalls began mushroom growth of the market stalls with fixed prices as the people struggled to grow themselves in the aftermath of urbanization. At first, Highstreet referred to food outlets but soon clothing was also introduced.
ARE HIGHSTREET FASHION AND FAST FASHION THE SAME?
Highstreet fashion is usually linked to fast fashion as both reflect the same business strategy aiming at presenting stylish, modern, affordable clothing for the people at large keeping in view the customers demand, fashion trends and market dynamics. Despite these similarities, the core difference remains the same as the fast fashion represents manufacturing side with designs, styles, stuff and innovations while Highstreet fashion is just a retail outlet meant to sell the products prepared by fast fashion.
WHAT IS SIGNIFICANCE OF DEPARTMENT STORE IN FASHION RETAIL?
With the innovation in market dynamics, massive urbanization and largescale influx of people in the urban areas, the space began to squeeze and it was felt that huge multistoried departmental stores are necessary as utilizing vertical space seem more viable solution to the extreme paucity of available on ground space.
Departmental stores are characterized by the divergence of goods they keep and variation in the prices they offer as usually these categorized on the pattern of discounts, general commodities, fashion and high fashion while many among them present extra services like wrapping of gifts, alterations, delivery and personal shopping.
These retail centers put to sale a huge range of goods including ready-to-wear clothes and accessories catering to all the people belonging to different age groups and income groups from the elite to the middleclass people. The departmental stores are divided into different sections based on the nature of goods and fashion industry has a significant portion in theses departmental stores.
WHAT IS LUXURY BRAND IN FASHION?
Luxury brand in fashion industry requires a sublime approach as it revolves around creating something best with the best of material, best of care and best of artistry and skill. In the line of fashion industry products, the luxury fashion holds the rank third most expensive and high-end products only after haute couture and pet-a-porter and thus, these products are bracketed with highly-priced fashion items. These products are made with extra care and attention using different material such as silk, leather, fur, wool and other such luxurious and expensive material.
Luxury fashion is a whole new world which has all the things to dazzle eyes, fill the mind with awe and move the heart with appreciation. In fact, luxury fashion is a trend setter and also guides the whole industry with its innovations and modernization and above all, it governs the likes and priorities of the consumers. Although, the products of the luxury fashion are expensive but these create a crave and craze among the people to have these products and in this way, luxury fashion keeps the fashion industry and market alive, active, vibrant and dynamic.
HOW VITAL ARE INDEPENDENT BOUTIQUES IN FASHION RETAILING?
Independent boutique in the fashion retailing sector is a small sub-sector which works quite independently having no dependence on the industrial based products and require no huge supply chain mechanism. A boutique produces own apparels keeping in view the choice and priority of the customers. The design, style, material, innovation, ideas, art work. Skill, labour, production, supply, display and merchandizing are all done by the independent boutiques on its own. Boutiques have international recognition, registration and a particular niche in the fashion industry.
The fashion boutiques hold a significant position in the communities around the globe as they present something additional to the trendy clothes and accessories. These boutiques provide a unique support to local communities, generate employment opportunities, trigger economic activities and become a strong source of unique cultural identity for the people of a particular area.
BOTTOMLINE
Fashion is a huge industry sprawling over so many sectors which have gone beyond human imagination. From farm to hands of customers, the fashion industry products have to put steps on the ladder with bars countless in number. The positive sign of this industry is that at every step of the ladder, there are people who get benefit monetarily from this huge chain of manufacturing and merchandising and everyone gets his share as per the level of his skill, art, input, labour and opportunity. Therefore, this industry is a big source of bread and butter of huge chunk of human population across the globe.
FAQs (Frequent Asked Questions)
Is tailoring obsoleting in view of huge fashion retailing?
In the face of huge fashion retailing, tailoring’s position remains the same as the people conscious of fitting, quality and style prefer tailoring.
Which are the negative aspects of fashion industry retailing?
There are many negative aspects of fashion retailing such as health and environmental hazards.
Which sub-sector is the biggest beneficiary of the fashion retailing?
Although fashion retailing caters to all the people involved in this business but organizers of fashion shows, manufacturers and retailers appear to be the biggest beneficiaries of this business.