"...the movement is not limited to the apparel industry."
What is fast fashion? Well it definitely is a new concept. The term refers to the movement of designs from the catwalk to the store in the fastest time to keep up with the latest trends. This concept as a result has paved way for disposable fashion, yes it is exactly what it says. The idea of fast fashion sounds perfect, for consumers that is. But how exactly do big companies get these designs done and out so quickly? Simple said they exploit low wage workers. The latest trends that we live for come at a price, one that can't be payed with money.Rather that price is human lives.
The retail industry takes many forms. However the forms most relevant to this blog are online shopping and self-service. Both types are exactly what their names suggest. Online shopping allows consumer to shop in the comfort of their home via the interent. They are able to collect desired merchandise and add it to a virtual cart. Consumers not only pay for their goods but also the transportation of them to their homes. Self-Service requires the consumer to go directly to the store where they can hand pick merchandise and pay at a counter. Enough about the consumer now about the company itself. Two factors go into determining the final price of the merchandise, the cost of the product and the profit determined by the retailer. Now within this simple system there is competitive pricing. Competitive pricing is when retailers guarantee good customer service to buyers so that they will prefer them over their competitors. Competitive pricing could also mean that one retail prices merchandise less than another so that buyers don't prefer the competitor.
The retail industry encompasses small businesses and chain stores that sell products directly to individual consumers.Retailers are categorized into department stores, discount stores and niche businesses. The retail industry has grown and spread because of an easier way to reach consumers, the internet. The increase in online information has added to spreading the latest trends all over the world, globalization of the retail industry.