Description
Cost
effective marketing tools used by fashion retailers and frequently changing
consumer behavior are the two major factors likely to drive fast fashion. To
reduce the time cycle from production to consumption, the fast fashion
retailers keep on releasing new products to generate the desire of consumption
among consumers. Frequent product launch can help in developing brand awareness
and improve rate of consumer purchases
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New
Products Lines to Promote Sales in Leisure Time Apparels
Major
application variants of fast fashion are business, leisure time, and sports.
Out of these three, leisure time segment is poised to generate the maximum
revenue in the coming years. Growing awareness about latest fashion owing to
use of effective marketing tools by retailers is likely to propel demand for
leisure time clothes. To cater to rising demand, most fast fashion companies
keep on launching new products for continuous involvement of its customers.
For
instance, Adore Me recently launched its first ever luxury designer collection
of lingerie named “Bijou by Adore Me”. The product is available in both
standard and plus size. To provide a luxurious feel to its consumers, the
company has used some superior raw materials such as velvet and French lace.
However, to maintain company’s core value of making fashion accessible, the
collection is said to be made available at affordable prices.
Market
Insights
According
to a report available on Radiant Insights, Inc.; the global fast fashion market
is expected to showcase high volume by 2022. It is poised to reflect a healthy
CAGR over the forecast period (2017 to 2022) due to rising demand for branded
and fashionable clothes at reasonable rates. Launch of new products multiple
times in a week to drive consumer visits can generate revenue for fast fashion
companies. Continuous efforts from fashion retailers to innovate supply chain
management can further fuel market growth. Growing adoption of cost-effective
marketing strategies by fashion retailers, improved brand equity, and pace of
consumer purchases can further augment market growth. High demand for
fashionable clothes over conventional clothes is expected to impel market
expansion over the forecast period
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Some
of the prominent companies operating in the market for fast fashion are New
Look, H&M, Gap, Zara, and Topshop
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