Barneys Closing Down The fashion industry has been imploding for a while now and, thanks to the drastic changes COVID has brought, the need for a change is greater than ever. Over inflated inventory and constant surplus issues, all of which have been a thorn in the side for years, are even more painful and in danger of threatening retail than before. In the recent New York Times article, Sweatpants Forever , Irina Aleksande takes a look at just how fashion has been further imploding under the added weight of the Coronavirus.
Stuck on a precipice of change since the 2008 recession, the industry has struggled to truly find its footing in terms of producing what consumers really want and need. So how do we create an industry that allows us to support both the creativity of designers and still fulfills the practical and emotional component of fashion consumption?
The balancing act might be found in consumer-centric brands that meld with backend business models taking into account business owners, customers and brands together: Demand Side Product Development. What Is Demand Side Product Development? Pre-Recession 2008, fashion was at its peak. In fact, I was a part of that heyday […]