Buyers of ready-to-wear or branded merchandise select garments from finalized product ranges which are sold to them on a wholesale basis, containing the label of the designer or brand. In contrast, buyers of own-label ranges develop products in collaboration with their suppliers, which are usually sold under the retailer’s label. Many fashion retailers have separate buying house departments or divisions- for men’s wear, women’s wear, children’s wear, and home wear, etc. In this article, we will learn What is the Fashion Buying Cycle.
Analysis and adaption bring the fashion buying cycle to a close. To find opportunities for improvement, retailers and brands must continuously assess sales performance, consumer feedback, and market trends. To stay ahead of the competition, this can entail making adjustments to price plans, marketing strategies, or future assortments.
What is the Fashion Buying Cycle?
The process that fashion brands and retailers use to design, develop, produce, and market their collections is known as the “fashion buying cycle.” Forecasting trends, designing, obtaining materials, manufacturing, marketing, distribution, selling, and ultimately markdowns or clearance are all usually included. It’s a seasonal or brand-release-based cyclical process that repeats itself. The cycle covers product design, manufacturing to selling. It’s a complex journey that involves numerous stakeholders, careful planning, and a keen understanding of consumer behavior. It also attending trade shows, visiting showrooms, and negotiating with suppliers. Buyers must consider factors such as quality, price, lead times, and sustainability credentials when making purchasing decisions.
Fashion buying cycle for branded and designer merchandisers:
This Fashion buying cycle is in constant progression and it is likely that the buyer will be involved in monitoring the delivery and sales figures of one season’s collection whilst planning to buy the next season’s range.
This fashion buying cycle is illustrated below…
Buyer selects the garments from designer and branded ranges mainly through the following methods:
- Attending fashion show
- Visiting showrooms
- Attending trade fair and exhibitions
- Meeting with sales representatives at the retailer’s premises
- Attending Conference.
Conclusion
In summary, the fashion purchasing cycle is a multifaceted, dynamic process that propels the industry ahead. Fashion experts move confidently and nimbly across this complicated landscape by knowing the subtleties of trend forecasting, buying, merchandising, production, distribution, retailing, and analysis. Success in the fashion industry ultimately depends on one’s capacity to predict and adapt to the constantly shifting tastes and preferences of consumers.
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