GLOBALIZED APPAREL INDUSTRY
During the past two decades fashion industry has influenced by Globalization for a greater extent.Earlier the apparel manufacturing and customer base was centered in USA,UK and Europe.But in today global retailers collect information of global consumers culture, consumption patterns and what to sell,in where to sell and expanded in top selling areas.As a result, Nike, Prada,Adidas and many more luxury global retailers have expanded in having a great success with Asian consumers (Antoshak, 2016).
If a product produces in one country and consumed in another, it's called cross culture consumption and the global retailers who don't have extensive observation on this won't success within cross cultural consumption (Cvetkovich, 1997).But they can use cultures branding strategies for their target market (Daye et al., 2008).This will provide a wide understanding of other cultures ,some reconstructions and sensitivity to cultural facets.
Studying consumption patterns of various geographical areas across the world also and important fact for global retailers (Daye et al., 2008).Latest studies on this reveal that Asia is becoming the leading target market for luxury brands while the previous leading market giants such as Paris,New York and Milan loosing their dominant centers.As a results the west's economical situation declines and the luxury retailers are migrating to Asia where the economy is growing rapidly.While the unemployment rate in United State increase drastically ,luxury production seeks some change.This has made China as the largest textile producer while boosting the textile industry in Bangladesh and Vietnam.However ,some common challengers are appeared to be in the industry as a result of Globalization,which challenge the large and small scale textile manufactures. Some of them are over capacity,excessive competition, volatile raw material price and government policy.
 |
| MAP: The real cost of cheap fashion SOURCE: Department of Commerce, Office of Textiles and Apparel; percentages rounded |
One can see that Globalization as favor and other one can see it as a disaster in textile industry. Understanding the consumption patterns of different market places and the cultural impact can help global retailers to be successful.Then the retailers will making money while global consumers become more active.
References
- Antoshak, R.P. (2016) Beyond globalization-a changing textile and apparel industry, Available at: https://www.just-style.com/comment/beyond-globalisation-a-changing-textile-and-apparel-industry_id127371.aspx
- Daye, D., & VanAaken, B. (2008) The Impact of Culture on Branding, Available at: http://www.brandingstrategyinsider.com/2009/05/the-impact-of-culture-on-branding.html
- Cvetkovich, A., & Kellner, D. (Eds). (1997). Articulating the Global and the Local: Globalization and Cultural Studies.
Technology plays vital role in globalization where it connects people and systems together. This improves the economy of the country as well. It is important that everyone understands how it works and what are the benefits of it. Nice article Isuru.
ReplyDeleteyes Jehan,the root of the globalization is the evolution of technology. So to survive in the globalized business world its important to update with technology.
DeleteWell explained about how globalization affects in Textile industry giving examples on Nike, Adidas. Good one to learn about other industries in global context.
ReplyDeleteThanks Anupama.
DeleteInteresting article on globalized apparel industry.Globalization having a greater impact on Cross cultural consumption and global retailers who don’t have much observation on this will not be success.
ReplyDeleteTrue.Every stakeholder in every business should have a thorough knowledge about the effect of globalization on their respective field.
DeleteGood stuff. Interesting to read. Internet, World Wide Web and global brand image of the product plays a major role in success of cross culture. Good luck. Thanks for sharing.
ReplyDeleteInternet, World Wide Web and global brand image are the new trends in fashion industry and hence the industry has become more complex.Thanks prasanna
DeleteGood article Isuru, we experiencing the branded clothing dominance in Asia due to the globalization, but as you mentioned it creates a negative impact local manufacturer to compete with market giant. Thanks for sharing.
ReplyDeleteYes Jinendran. But in the near future the African continent will be the dominant apparel manufacture.
DeleteStrong and rich in information, Good blog Isuru. apparel and textile industries tend to use global sourcing to find the weakest regulatory environments for their manufacturing and assembly sites. As developing countries and poor regions within industrial countries strive to attract or retain employment opportunities in the apparel and textile industries, there is a resulting downward spiral in labor and environmental conditions
ReplyDelete