The effect of inflation on fashion brands has led to increased prices of clothing and accessories, affecting consumer purchasing power.
It is practically impossible to scroll through the internet without coming across conversations that sparks interest.
Giving the current market environment, fashion brands are passing on all these cost to consumers whose budget has already been compressed.
Fashion consumers on the other hand are now looking for cost effective alternatives.
The reality of the economic situation worsens, as the cost of production is outrageous.
From electricity to rent, tailors, logistics and branding amongst other things that are ridiculously expensive are all factored into retail.
THE REALITY OF THIS ECONOMIC SITUATION WORSENS AS THE COST OF PRODUCTION IS OUTRAGEOUS. FROM ELECTRICITY TO RENT, TAILORS, LOGISTICS, BRANDING AMONGST OTHER THINGS THAT ARE RIDICULOUSLY EXPENSIVE ARE ALL FACTORED INTO RETAIL
The price point of fashionable items keeps soaring.
To provide an insight, I discover that the price of a statement dress or two piece set from some fashion brands is near to the cost of a bag of rice while other fashionable items can climb up as high as the cost of a plot of land in some places.
The question is, has fashion taken a backseat for many people? Well! Depending on your status, preference, expendable cash and the way fashion resonates with you, there are quiet a number ‘’expensive’’ fashion brands and those that are ‘’reasonably’’ priced.
You just need to find the one that can cater to your need and pocket.
In recent times, it has become increasingly challenging for many people to keep up with fashion as brands are increasing their prices faster than the cost of everything else thanks to inflation, high cost of materials, production cost amongst others.
In all of these things going on, there is high increase in the popularity of fashion brands that offer more competitive price, lifting some sort of financial burden off consumers.
These brands are popping up for such a time as this with lower price points, no wonder their success rate is high.
We figured that when you are able to provide reasonably priced fashionable pieces to consumers, it becomes possible for them to shop and keep up with being fashionably stylish.
THERE IS HIGH INCREASE IN THE POPULARITY OF FASHION BRANDS THAT OFFER MORE COMPETITIVE PRICE LIFTING SOME SORT OF FINANCIAL BURDEN OFF CONSUMERS.
Gone are the days when some people assume that tailored outfits are for the down trodden.
In this dispensation, some of these fashion brands churn out amazing designs.
We have tailored outfit that are considered luxury because they are artisanal and have a level of craftsmanship that went into the process.
With tailored outfit, you get the right fit and your fashionable pieces are tailored to your taste.
There are a larger percentage of people who are still keeping up with beauty standard.
It is cost effective, you can shop for them on and off the rack but remember that budget sensitivity is at an all time high.
The Effect Of Inflation On Fashion Brands
What I find really interesting is for the fact that you would expect that with the current economic reality, fashion will take a backseat for many.
There is rise in consumerism and consumers are still splurging on shoes, dresses and even though they are much more expensive compared to previous years when inflation has not eaten deep into everything.
That is to tell you that fashion has not taken a back string and no cost is too much for some people to splurge on fashionable items.
Here are few nuggets on cost effective approach to shopping:
1. For every luxury brands there are tons of reputable and reasonably priced fashion brands.
Imagine what the world will look if every like if there are no fashion brands that offer good quality, fashionable, trendy and reasonable priced goods, boring right?
Cost conscious behavior is everywhere.
We give props to brands who offer quality alternatives that are marginally cheaper.
This will take away some significant financial burden off many and making it possible to achieve their dream of been fashionable stylish.
2. Go for tailored outfit: this will reduce cost and give you the perfect fit you desire.
Look around you, find creative artisans to churn out beautiful stylish outfits for you.
By so doing, you have cut cost and reduce the bait of inflation on your style budget.
3. Get creative with your style: the truth remains that you do not need to splurge on clothes every time.
With this current economy and rising inflation, it is time to get creative with your style.
You can achieve this by pairing your outfits together by either matching color of styling differently from what you are used to.
4. Repeat your outfit: one of the ways to be cost conscious in this economy, aside shopping fashionable pieces often is embracing outfit repetition. Wear and re-wear your outfits again and again.
The Effect Of Inflation On Fashion Brands