How Fast is Fast Fashion?
January 4, 2016
On high streets, shopping centers across the globe, Spain’s most powerful clothing retailer, Inditex – popularly known for its Zara outlets, Sweden’s H&M, Britain’s Topshop, L.A.’s Forever 21, and Japan’s Uniqlo are trailblazing fast fashion world. Fast fashion is a multi-billion dollar industry and it’s growing, a significant contrast to the slow decline of the traditional apparel retail market.
Irony in Fast Fashion
Fast fashion has brought fresh air into the textile and apparel industries and it quickly struck a chord with the consumers. Today’s fashion market is highly competitive and there is constant need to ‘refresh’product ranges. Fashion retailers are encouraging consumers to visit their stores more frequently with the idea of ‘Here Today, Gone Tomorrow’.
Many retailers to achieve 6-8 weeks cycle are required to take more risks up-front so ironically actually committing around 9 months earlier than everyone else would. Careful design planning to use fabrics across multiple styles requires big investments in design, fabric and developers’ team.
Often material is bought in bulk, as greige goods and dyed to a given color or pattern, in any given amount. They then collaborate with store managers to figure out what customers are asking for.This kind of power is relatively new for the industry, but it gives an advantage to turn things around faster.
Successful retailers ensures product availability of their merchandise to the right store exactly when their consumers demand it. This comes only by accurately allocating the merchandise by style, colour, and size as there is zero margin for error. The trailblazers introduce styles as often as every two weeks. The constant replenishment keeps fashion
conscious customers coming back for the generally low-priced goods.
Technology: Backbone of Supply Chain
Fast fashion retail business has seen a major shift. Retailers are no more interested in technology for technology’s sake. They tend to ask valid questions, ”Why do I need it? What’s the real benefit?” They need a supply chain system to automate decisions based on business rules, present data in easy to understand form, provide connectivity to share real time information to make quick and accurate decisions.
At adjuno, our unique technology models the entire supply chain network to determine how source to shelf decisions will affect the business as a whole. To ensure fast fashion process acheives the 5 goals and runs effectively, right technology support is essential.
Why implement adjuno systems?
- Responsive Critical Path
- Cloud-based connectivity
- Raw Material Monitoring
- Product Flow Management
- Store Pick and Pack
- Fabric Tracking
- Vendor Portal to share sales, inventory and forecast designs
- Ask ‘What if?’ to design alternatives and create multiple route-to-market
- Alerts and warning messages are triggered at key stages of product lifecyle