With each passing year fashion has truly become a worldwide business, with over $60 billion dollars worth of industry revenues estimated to be generated in the next decade. This is not surprising when you realize that for every six people on earth there are a different designer, clothing producer, textile manufacturer and dressmaker who are operating in the fashion business, and this figure only continues to increase with time. Globalisation has had a massive impact on fashion and with the advent of information technology, social media, blogging and ecommerce websites; more people from different countries and backgrounds are getting involved in fashion.
Trends in fashion do not only occur within the fashion industry, but they have spread into every aspect of daily life including politics, economics, business, sport and more; just to name a few. The question at hand however is “How can you determine what is a macro trend” and how can you define what is a micro trend? The simple truth is that trends in fashion have been forming since time immemorial; when people started living longer many noticed a gradual decrease in skin diseases, due to better hygiene and the introduction of vaccines; this trend turned into a downward spiral when people started dying young because of these diseases. Globalisation has affected fashion as well, with the advent of information technology and mass production; it is now possible to reach millions of consumers instantly, and saturation of the market has also increased. Nowadays, people no longer wait for the fashion weeks or fashion shows to conclude before they buy a particular outfit, people now decide on what is hot today, what is fashionable within a given time and what is the trend of the season.
In conclusion, trends in fashion are a result of the basic principles of economics. It is known that supply and demand are the two major factors that drive any economy, and this also applies to the fashion industry. High numbers of buyers usually leads to high prices and therefore the only way for the fashion industry to survive is to find ways to attract more customers and make them aware that they will be able to get the latest fashions on the markets for a good price. Of course, it is not always about the price anymore, as anyone who wears a certain outfit understands. It all boils down to personal taste and how easily one is influenced by what is in.