What do you mean by fashion ?
Fashion can be defined according to the ones perception, I think it is changed person to to person, place to place. However fashion can be explained as " Style/ styles that are most popular to the given time period. Hence, it means fashion change tome to time,
We know, fashion..
* Has most popularity
* In given time range
* Fashion has spreading on consumer market
* Fashion has its silhouette and different configure
* Fashion has optimum accept of people
* Fashion has basic comparison to each similar products
* Fashion always consumer attract more and more
* Fashion keep growth in certain period of market.
Above I described only about characteristics of fashion. But now I hope to describe about fashion cycle.
Fashion cycle means, when some style release to market and in after its sales behavior. Here I can divided conventional fashion cycle into several stages and they are,
Introduction Period
In this period get place as soon as released particular new fashion into market. It's sales volume is very low and company have to spent more cost to promote this product. And also sales volume and profitability is very low.
Growth Period
In growth period style start to grow and spread in market. Consumer attraction is being rapidly growth to buy particular style. In this step company sales volume and profitability start to be growth. Consumer more and more attract to purchase this style.
Maturity Period
After completion growth particular style become to its maximum sales and in here company profitability will be reached to maximum.
Decline Period
According to the most popularity of this style, some competitors copies particular style and low cost similar duplicates can be seen on market. Hence consumer goes to by this duplicates. Therefore sales volume and profitability is started to goes down. So, company profitability and sales volume start to reduce step by step.
Rejection
According to the mass production of duplicates in market, consumer start to turn to another new style. Therefore this style sales volume reach to nil. And this is known as rejection. After that, company stop this style manufacturing and try to release new developed style in to fashion market.
However after hidden period of that rejected fashion, sometimes it became again popularity in another period. Bu it is changed on culture, religion, lifestyles, consumer perception, willingness to buy and capacity to buy, etc.
Apart this theory, in apparel merchandising following factors also considered to prevent loss profit and sales and they are,
- Obsolescence Factors
- Faster Turnover
- Higher Markdown
- Seasonal Factors
- Sales Promotions
However we can prove fashion is not static and it is dynamically change among population in the fashion market.