Welcome to part 5 in our series looking at the future of some of the occupational fields related to our programs at The Art Institute of Pittsburgh – Online Division. Today we’re going to take a look at some trends in outlooks in the field of Fashion & Retail Management.
The fashion & retail industries are incredibly dynamic – from season to season new styles, trends and consumer behaviors emerge. It is the fashion & retail managers who have the sense for style and business savvy it requires to keep their business successful in this constantly evolving marketplace.
On the retail side of things, just as with the other industries we’ve profiled, the Internet and its associated technologies are changing everything for the industry. As the consumer adapts their behavior, retailers have to follow suit, as laid out in this Fast Company article describing the future of retail:
“The value of the local store for physical goods is continually evolving, driven by changes in distribution infrastructures. Recently, we have witnessed a shift in retail from physical to experiential, where the currency of value is the experience. However, we are only at the beginning of an economy driven by virtual goods.”
It is this shift to the experiential that will have a big impact, as the article continues:
“Designing these new shopping experiences is not just about immediate sales but about creating opportunities to facilitate impulse purchases, up-sell, and cross-sell. The challenge is in constructing a seamless shopping experience that integrates the in-store, transactional, and post-sale goals. The experiences must converge to promote discovery in-store and the continuation of the sales process at home or on-the-go.”
So, as retailers, and especially those involved in fashion retailers, what could some of those experiences revolve around? According to a popular fashion blogger Yuli Ziv, there are some interesting developments arising:
“Some of the main trends we will see developing in online retail going forward are 1) Gaming – introducing game-like elements into the shopping experience, 2) Customization – using the new technologies to narrow the choices, 3) Consumer involvement in all aspects of the collections – from design to funding and 4) Single product focus – Burberry has started the trend with claiming the trench as their iconic product with their Art of the Trench.”
Another rapidly emerging trend in Fashion is the idea of sustainability – recognizing the impact that the fashion industry has on the environment – and all of us - and working to improve it. As the CEO of Levi Strauss told the “Forum for the Future”:
“For the fashion industry to be sustainable economically, it must be sustainable socially and environmentally too. These provocative scenarios challenge all of us to look beyond the short term and use our collective power to work to create the kind of positive world we’d like to see in 2025.”
John Anderson, president and chief executive officer of Levi Strauss & Co.
With Fashion & Retail Management touching so many different areas, it’s a good plan to take a look at the industry while considering your choice to pursue a degree in it. The Bureau of Labor Statistics can be a good source of information on different career paths within the industry, see here and here, or you may want to read more about the Fashion & Retail Management Degree Program at The Art Institute of Pittsburgh – Online Division.
See www.AiPrograms.info for program duration, tuition, fees, other costs, median debt, federal salary data, alumni success, and other important info.