How will the apparel industry respond to this major change in the consumer’s buying habits. If the consumer buys only based upon need because of both economic and sustainability influences, will it mean “fast fashion” for everyone? (Professor Rosenau)
“The Great Depression replaced a spendthrift culture with a generation of frugal savers. The recent recession, too, has left in its wake a deeply changed shopper: the just-in-time consumer."Consumers are saying, 'I'm going to buy what I need for a specific period of time,' rather than loading up and buying two or three extra units just because they can get a good price on it," says Richard Wolford, CEO of Del Monte Foods Co. He calls the phenomenon "need it now." (WSJ)
I believe the fashion Industry is confronting innumerable new faces due to a new consumer mindset. The apparel industry in the U.S has to consider all these faces when planning a successful business model. The questions is indeed, if “Fast Fashion” will last and become the rule, when the economy is still in a deep transformation.
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