What is contemporary fashion?
The contemporary fashion category falls somewhere in between main street and luxury fashion. This type of fashion is generally high-quality, finely crafted, and exudes a more creative vibe than everyday wear and strong aesthetics.
Contemporary fashion tends to have a more special and unique feel to it and appeals to multiple groups of consumers. This is good as it means more global opportunities for contemporary brands.
What do contemporary brands need to do to compete globally?
In order to compete in the highly competitive contemporary market, fashion brands must be alert to new competitors and think outside of their local market. This means researching new international markets to expand into.
With many international markets with strong economies and consumers with a lot of spending power, expanding globally ensures that contemporary brands can actively compete and survive. For example, more than 96 percent of the world’s consumers live outside of the USA. This means that U.S.-based brands have many more opportunities outside their home country than inside.
The up-and-coming contemporary fashion market is competing with older, more established luxury brands in targeting younger consumers. So in order to effectively compete and stand out from the crowd, contemporary brands will need to have a strong and unique voice. This can be achieved by crafting a compelling and memorable brand story.
The brand story is important as it truly lets potential customers know who you are and what your brand stands for. Is your brand about style? special fabrics? environmentally friendly textiles? Having a strong and unique voice is important for contemporary brands that want to expand into other international markets.
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By Belinda Antwi for https://designcollectiveny.com/