The Future of Fashion

Spending the weekend going through my “fashion marketing” and “fashion trends” Google alerts this weekend, I started reading Romanian designer Ludmila Corlanteanu’s articles in the Herald de Paris on the the Prêt-à-Porter (Feb. 2009 show) and The Future of Fashion. I love her personal, connective writing style, how she uses her own experiences as examples and how she questions the ways fashion business will be conducted in the future.In her writing, Corlanteanu makes a few marketing related points/questions that I wanted to discuss in more detail:1. "I feel “crisis” [has] been over exploited by the media.” Frankly it has. That is traditional, mass media’s job; to selectively target certain topics/events, distort them in a way that conveys a certain story and hammering it the point until people believe it. In late 2008, the news media started saying, “The economy is bad, times are uncertain, you might want to STOP spending!” Sure enough, the consumers did just that. The majority of the media negatively contributes to most of the topics they cover through misinformation or lack of information. Are we in tough times, yes – but I bet they would be far less severe has we people been educated from the start about housing, spending and loans. You don’t hear positive stories that have come out the current economic state. And there are many.2. “I should have a strategy for the future, if I want to continue doing this and live from it.” Every fashion brand, retailer and designer (no matter how large or small) needs to think about their marketing strategy moving forward. They need to analyze what they are currently doing and see what yields the best ROI. If there is something in the plan that isn’t generating revenue/sales or is costing more than it produces, it needs to be removed. They should be looking at alternative marketing initiatives that can generate new distribution outlets, build brand awareness and increase consumers/business sales. They should not cut marketing dollars, they should cut operational expenses. Every dollar spent on marketing (that includes advertising, publicity and public relations) should yield a $6.00 return for every $1.00 spent – minimum.3. “I do believe that every human being has the right to have beautiful, crafted and individualized clothes at affordable prices.” Companies are being forced to analyze their business models, they have to restructure and they have to force themselves to fit into modern times or face extinction. Companies are embracing new technologies (social media is a great example) to market to their customers, they are trimming product lines and manufacturing products that better fit their customers’ needs/lifestyles. Fashion brands in particular realize that the customer is king and that a company built on customer service is going to come out ahead of others in 2010 (Zappos.com is a great example). They’ve realized consumers have woken up and they are asking “What have I been paying for?” Brands must offer the same quality products at better price points in order to maintain their customers.4. “I wrote “thank you” emails to the visitors and send them Line Sheets and Brochures.” Personalization (and again, customer service) is key. Sending hand written notes and following up with vendors is a must. You must proactively manage your relationships with your accounts. If you are product doesn’t generate considerable revenue and support your account’s sales goals, you could lose them. Asking about their business and their marketing goals can help you as a vendor cater a customer presentation to them. Don’t give them anything that doesn’t match their identity, give them only what does. Customized and streamlined is the best approach. If a company sells directly to cosumers, send “Thank You” notes to loyal customers and hand written updates when you have new product. If you sell online, send out a special code/offer to your top sependers. Customers need to feel like the matter, now more than ever. You need to work harder for their business, I guarantee it will pay off.You can find more ideas about the future of fashion at FashionablyMarketing.Me.