Fashion Industry Proposal
The final output product that is being produced in my chosen industry are the clothes in all its varieties, including accessories and shoes. Personal income and fashion trends drive the demand for clothing. If the first factor cannot be influenced by the fashion industry, the second is easily manipulated by it. Fashion trends influence the public desire to purchase clothes of a particular style, color and fashion. The trends are defined at the beginning of every season and make certain clothes to be in a high demand. Each season the trends change and new products of fashion industry appear on the market. Fashion marketing and celebrities also play an important role in increasing the demand on the latest fashion. The clothes that celebrities wear can be a factor that greatly influences the fashion clothing industry.
Brand names are apt to affect supply for fashion clothes. Designer’s clothes can be both rare and expensive, while clothes for the broad audience are abundant and can be bought in the retail markets. Clothes are not a rare commodity, so the amount of supply will constantly shift, depending on competitive markets and new fashion trends. The demand for this product is elastic because a slight price changes may lead to huge changes in quantity demanded. Though consumers treat clothes as a necessity, they have a variety of choice in what to wear, and how much to spend. When the stores offer sales, clothing prices drop to maintain the demand. In that case, the demand increases, confirming the price elasticity in the fashion industry.
The article was written by professional writer Eshley Durst, you can find her papers at cheap-papers
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