The Trend Boutique- Key Issue in Industry.

(Conference notes..)

Austerity vs Luxury..
The end of 'era of mass consumption' and birth of the 'age of austerity'
The growing divide between the rich and the poor (squeezed middle sector, middle ground disappearing)
Both in the U.K and also globally.
Economics split traditional vs BRIC (Brazil, Russia, China)

Traditional..
little or no manufacturing , high level of debt, consumers need areas to buy.
BRIC..
restrained consumption, strong manufacturing bases or natural reserves, low debt, growing wealth (Russia, China ex communist countries)

Since the recession started to see changes in the rules
- ways we do business
- who we sell to
- a reassessment of what we have to offer as a country
- aesthetically design codes have also seen change

Key drivers
Current economic situation can be mapped out right back as far as the start of the industrial revolution  (1790's-1860's), even if we go back as far as the 40's (make do and  mend)

1940s..
-WWII
-Rationing, allotments and make do and mend
-Post war industrialisation
-High level of debt (to USA)
-High birth rate & introduction  of the baby boomer generation
-Introduction of welfare state (talking point at the moment)

1950s-70s..
-Post war economic boom went on until the 70's
-The advent of the teenager
-Popular culture-US
-Womens desire to work and have financial freedom- two income family
-Introduction of credit cards, cash machines and desire to run own home
-International travel

1980s..
-'Greed is Good'
-Tax cuts to wealthy and increase growth
-The de-industrialisation of the UK
-The yuppie (mobile phones, eating out)
-Period of Boom and Bust
-Civil unrest with riots, miners and strikes


1990s..
-Global monoculture
-Information age
-Personal electronics, mobile phones and video games
-utilitarian aesthetic
-24 hours & Sunday shopping
-Population growth through migration


2000's..
-High employment
-Growth in consumer debt (end of 90's had doubled from 80's)
-Cheap finance, property boom and equality release offers
-Conspicuous consumption- 'Bling' and 'IT' bags
-Throwaway fashion
-Continued rise & expansion of the supermarket

Recession in a time for stop and reflect- end of throwaway fashion/mass consumption
Rise in social media gave us a voice

-Value sector showing large growth
-Primark and Sainsburys grew their UK clothing sales by £1.1 billion and £0.46 billion respectively between 2000's and 2010
-Challenges within there too- wage inflation in China, increasing Cotton prices.


Heritage and craftsmanship- Mulberry, Vuittom
Eco luxury- Vivienne Westwood, Stella Mccartney & Lotus

New technologies in the luxury sector is often where fashion takes the lead-
-Social media (live tweets/feeds of show)
-Augmented reality
Ralph Lauren, Burberry, Prada and Chanel