How to create and sell in fashion retail
The Australian fashion industry, like so many others, is evolving at a rapid pace.
Consumer values, technological shifts, political concerns, and business models are shifting and interweaving to such a confounding degree that there is no other choice than to adapt. Like yesterday’s wardrobe, you might be left by the wayside.
Let’s break it down and look ahead at the what and how of surviving and thriving in an ever-changing consumer retail space.
Current State of Play
Ever heard the term “The Amazon Effect”? While it is a new concept here in Australia, it is one that we’re all bracing for, as it has already reshaped retail in other parts of the world. Retail groups such as Westfield are breathing new life into the physical retail experience through augmented reality – incorporating the latest digital technologies and elements of experiential logic.
Activewear, sustainability, alternative fashion and fast fashion were already reshaping how many brands approach design, and then big data entered the fray. Fashion brands are now utilising buying data to judge how to adjust the frequency of collection changes, what changes are made, how to minimise carbon foot prints and more.
Social media has drastically altered the way consumers perceive fashion. It is easier than ever for the masses to make or break a brand through the power of advocacy and e-protest. Locally, there have been Australian brands who have truly mastered social to the point that they have defined an entirely new style and category with little more than Instagram.
Agents of Change
Put aside notions of greenwashing – sustainability and ethics are big factors to consider for long term viability, for image, production, and finance. Whether you consider following brands such as Cue with smarter local production or you look for strategic partnerships overseas, now is the time to rethink how you design, source, produce and distribute your wares.
Automation, in terms of marketing and all other areas of business, is altering how many approach communication, resourcing, and production. When done well, it allows even the smallest of brands to operate smarter and be vastly more agile.
Amazon is not the only international player to unleash itself on the Australian retail scene, nor is it the first. Uniqlo, Zara, H&M, and Forever 21 are popping up in city centres and shopping districts across the country, delivering broader ranges and more competitive prices than most Australian stores can compete with.
Be Fashion Forward
It is with this in mind TAFE Queensland has partnered with fashion icon and artisan-turned-educator, Professor Jimmy Choo. Working together with this expert in the field, we have pieced together a series of insightful and stylish events that are designed to inspire and ignite fashion across the state and the nation.
Whether it is your brand as a whole or you as an individual, now is the time to evolve. Be digital, be tactical, be equal parts creative, academic and marketer. This is what fashion and retail are in the real world of today.
Whatever your style, whether you are a business big or small, this is an opportunity tap into the ideas and the skills that make change happen.
Register today to discover firsthand what happens when beauty meets brilliance.