Future Of Fashion Beauty Lifestyle Industry | Overview & Musings

Not that I am a huge fashion or beauty blogger but these topics indeed are on my radar. Fashion and Beauty are at the core of at least half of humanity’s existence. Most of our existence is geared towards improving our self-confidence, shining our personalities and plain old boosting of our egos by showing a beautiful face to the world. With the latest fashion trends and help from the modern makeup techniques, even ugly ducklings can transform into exotic swans, so the traditional wisdom goes. The advent of 21^st century however has led to a sort of topsy-turvy situation in this most beloved industry.

Once upon a time, fashion and beauty brands were neatly categorized. There was the lower end for teenagers and college goers, middle market for married/professional women and high-end luxury brands for the upper echelons of society. There was a neat symmetry in the race, age and kind of models used by various fashion brands whose fashion shows were hallowed grounds where only a chosen few were invited while the general public had to wait for the next edition of their favorite beauty magazine to peep into the latest collections. The big brands seemed to overpower the industry as everyone below them would eventually copy their work for mass production while they served the rich and the famous.

Not anymore.

The fast changing times have almost completely changed the rules of the game. Consider this – many fashion brands are now planning on drastically decreasing or completely eliminating their fashion shows to focus on creating shorter lead times in creation of a fashion line and selling it instantly. The average consumer today is much more well-informed and raring for instant gratification than a couple of decades ago. The advent of social media has brought about 180 degrees change with Instagram influencers and YouTube beauty superstars dictating the next big fashion trend. These superstars (Kim Kardashian comes to mind) sometimes command even more recognition as experts in this industry than the biggest actresses of tinsel town. Trends no longer stay in place for months; rather brands have to be on their toes 24/7 to predict the next big thing. Online shopping has changed the expectations of consumers. Their loyalties are so much easier to shift, based on how innovative and cost effective their shopping experience is. Brands (such as Estee Lauder) that traditionally focused on high-end spectrum are now shifting their sights to the middle and lower ends as that is where profits reign. Not to forget, the industry is facing absolute cut-throat competition with a new brand being launched every second day.

This pace of change is just going to accelerate in coming days. Wearable technology is going to make bigger inroads. Children are maturing much earlier and entering the world of fashion & beauty with their peers via social media. The debate over skinny models and photo-shopped images on our beauty magazines is not going to die down anytime soon. In fact, as the world gets smaller, the demand for increasing diversity and real portrayal of real people (plus-size models show the way) is going to make real noise. At the same time, increased concerns for ethical fashion and beauty products made without any harmful ingredients are boosting real changes to how brands source, process and present their offerings, which in the long run, can only mean a better future not only for the fashion and beauty industry but the consumers and planet too. Interesting times are ahead!

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