The downturn in the economic system has given us all a fashion rethink. It’s already been well commented that the downturn in the economy has heavily had a negative affect on the fashion industry. Although downturns in the economy are nothing new, this recent recession we’re in is going to have a lasting impression on what we think of fashion. We are living in a very pragmatic age these days. Before these practical times, we delighted in the frivolity of fashion – nothing was expensive or too extreme – you only worried about being accused of being too dull. Now though the catwalks and labels are copping a bad press. Even if you look at the mid-range labels, suddenly they’re criticised for manufacturing in overseas sweatshop factories. Is it that everybody has become so incredibly difficult to please?

Not at all. People need fashion, and always will. It is engrained in our minds to identify new styles! In fact, looking online there is stiff rivalry between online fashion retailers (e.g. searching for fashion accessories) – a sign there is still strong demand and supply. It’s the old-school mindset that is dying – of being dictated to by the established labels. Fashion has always followed our lifestyles rather than vice versa, and nowadays many issues are turning us off big fashion brands. First Off, people are a lot more aware of globalization, and showing off your fashion labels makes you look narcissistic and thoughtless in certain circles. Secondly, it’s the economy, stupid! Fashion has invariably been a luxury, not a necessity. In a recession, luxury items get hit the worst. Lastly, individuals express themselves much more individually these days -we don’t need to be told what to wear or how to act, there’s no big “tribe” to assimilate or fit in to, and fashion requires that type of sheep-like thinking to sell in numbers.

What is the future for fashion companies? As ever, they must adapt to survive – create a larger range of fashion lines to cater to more corners of the market. If you’re a small store offering unique clothing at an affordable price, the future looks bright for you despite the subdued economic times we are experiencing. Nowadays, individuals are fusing their styles, buying from marketplaces and more personal, inexpensive fashion stores.