A Study on the Strategies of the Fashion Industry toward Fast Fashion

Abstract

Fast fashion is widely accepted in young generation who are eager to the new fashion trends. With the consumers' rapid adoption of fast fashion, fashion retailers have tried to adopt strategies to reflect current and emerging trends as quickly as possible and effectively in current merchandise assortment, raises important issues with respect to the processes of effective merchandise management. However, the concept of fast fashion has not been academically investigated and developed properly yet. Therefore, this study mainly reviewed secondary data such as leading fast fashion companies' website, newspaper articles and Zara's case study which covers fast fashion issues. Fast fashion gets widely spreading in market, current investigation showed that domestic fashion companies have adopted fast fashion concept in early stage. This study tried to examine characteristics and strategies used by fast fashion businesses to provide domestic fashion industry with valuable information of production and marketing strategies. Suggestions through the result are as follows: 1. Fast fashion requires flexible managing systems such as SCM, QRS and JIT in order to promote efficient production and assortment management from the entire supply chain. 2. Domestic fast fashion companies should build up not only quality of good design but also reasonable price and strengthen marketing strategies in order to compete with abroad fashion companies 3. Fashion companies that succeed in satisfying consumer's desire for new trend show that it has been successful their strategy to make market area wider to the world not focusing on domestic market.