The fashion product life cycle

Last Updated on Fri, 08 Dec 2023 | Fashion Marketing

The concept of the product life cycle is based on the proposal that all products have a finite 'life cycle' that can be plotted over a given period using the biological analogy of growth, development and decline. It proposes that all products will go through four major stages, namely introduction into the marketplace, growth, maturity and decline. However, it has already been pointed out that the nature of products in the fashion industry varies according to the rate, extent and timescale of acceptance of any new offering. Thus while fashion and fads do make up successful new product introductions, garments that are more classic in nature will never actually go 'out of fashion', nor will they rarely be 'in fashion', rather they will continue to meet established target market requirements. Thus the concept should be modified when analysing various fashion product classifications.

The life cycle of a fashion garment, extending over one or several seasons, probably comes nearest to the bell-shaped curve normally used to depict the product life cycle model (Figure 6.8).

The sales and profitability patterns and marketing implications of the model are described below.

Introduction

New fashions take time to gain acceptance. Some consumers will be more innovative than the majority and, while they are willing to pay higher prices, unit costs could potentially still be high due to low sales. However, to counterbalance this, the high fashion element (and therefore exclusive nature) of the style at this stage may mean that customers are willing to pay very high prices, leading to generation of high profits. Selected promotion will emphasize image and high fashion nature; the main aim will be to educate and inform the customer as quickly as possible. The size of the market will, however, be limited. Distribution will tend to remain exclusive.

Sales and profit £

Sales and profit £

Fashion Product Life Cycle
Figure 6.8 The fashion product life cycle.

Growth

Competition increases as the fashion gains exposure and begins to have wider appeal. Products will be modified to reduce costs and be offered at lower price levels. Sales will begin to rise sharply; new price bands will be established quite quickly. Distribution, still selective at this stage, will be wider as the fashion is diffused. Promotional emphasis will be on broadening exposure to gain acceptance of the fashion by the opinion forming element of the mass market.

Maturity

At this stage the fashion will have mass appeal; this period will be the longest in its life cycle. Competition will be intense, and prices will begin to fall to appeal to a very large market. Products will be further modified to achieve the ensuing lower price levels and profit potential will be falling. Distribution will be wide; promotional emphasis will be on reinforcement of what has by now become an established fashion.

Decline

The style is rapidly going out of fashion. Competitors are gradually eliminated as sales and profits are falling drastically and the prospect of being left with obsolete stock is near. Those left in the market may try to extend the product's life by intensive advertising, extending distribution or searching for new segments. The alternative segments are likely to balance concerns about the likely success of the

Fashion Product Cycle

product against others such as price levels and the remaining life of the product.

Was this article helpful?

+4 -3

Related Posts

Readers' Questions

  • james boyle
    Can we reference fashion using product life cycle?
    10 months ago
    • Yes, the product life cycle can be used to reference fashion. The product life cycle typically has four stages including introduction, growth, maturity and decline. During the introduction stage of the product life cycle, a fashion item is introduced to the market and made available to consumers. During the growth stage, demand and sales of the item increase. During the maturity stage, demand and sales of the item begin to plateau. And in the decline stage, demand and sales of the item begin to decrease.
    • Vicky Scott
      What are the stages of the product life cycle in fast fashion?
      1 year ago
      • The stages of the product life cycle in fast fashion can vary, but generally include the following:
      1. Introduction: This is the initial stage where a new fashion product is introduced to the market. It could be a new clothing item, accessory, or trend. During this stage, the brand or retailer promotes the new product and tries to generate awareness and interest among consumers.
      2. Growth: If the fashion product gains popularity and demand increases, it enters the growth stage. This phase is characterized by a rapid rise in sales and market share. Many consumers start buying and adopting the product, and the brand may expand its distribution channels or open new stores to meet the demand.
      3. Maturity: In the maturity stage, the product reaches its peak in terms of market saturation and sales. The competition intensifies, and numerous brands may offer similar products, resulting in price wars and consolidation within the fast fashion industry. Brands may introduce variations or new versions of the fashion item to maintain consumer interest and prolong this stage.
      4. Decline: Eventually, the fashion product enters the decline stage, where sales start to decline due to factors like changing consumer preferences, shifting trends, or the emergence of new fashion products. At this point, the brand may reduce the price or offer discounts to clear inventory. The decline stage often prompts the brand to discontinue the product and focus on new, more marketable items.
        5. It is worth noting that due to the nature of fast fashion, some products might skip or spend less time in certain stages compared to traditional fashion products. Fast fashion brands aim to quickly churn out new designs and trends to cater to ever-changing consumer demand, resulting in shorter life cycles for individual products.
      • aapo
        Which of the following products would have a fashion product life cycle curve?
        1 year ago
        • A. Shoes B. Computers C. Books A. Shoes
        • wilson
          What are fashion product life cycle?
          1 year ago
          • The fashion product life cycle is the process of bringing a fashion product or trend from its introduction to the marketplace, through its growth, maturity, and decline stages. This process involves several stages including concept, design, development, production, marketing, sales, and retirement. Each stage requires a different approach, as the product progresses from idea to decline. Concept: During the concept stage, fashion designers brainstorm concepts for a new product line or collection. They consider trends in the fashion industry, consumer needs, and other aspects that might influence the shape, look, and feel of the product. Design: The design stage involves creating detailed drawings, patterns, and sketches of the product to turn the concept into a reality. This typically requires a fashion designer to integrate the concept into a tangible form. Models may also be used to perfect the design. Development: During the development stage, a working prototype or sample is created and tested to perfect the design. This stage often requires additional refining by altering existing designs or creating new ones. Production: Once a design has been perfected, it is ready for production. This involves selecting materials, sourcing and purchasing materials, and manufacturing the product in a factory or by a manufacturer. Marketing: In the marketing stage, designers or manufacturers develop marketing plans to promote the product to their target customers. This involves creating advertising campaigns, launching promotional events and activities, and setting up a distribution network. Sales: After the product has been successfully marketed, it is ready for sale. This stage involves arranging sales channels, setting prices and discount strategies, and establishing a customer service network. Retirement: Finally, after a product has been sold for a certain amount of time, it may be retired. This involves discontinuing the product from the marketplace, creating opportunities for new products, and reinvesting resources into new designs.