Tag

Trends

Browsing

I was thrilled to share my insights into the return of specific trends and nostalgia cycles in conversation with Nicole Kliest for the Zoe Report.

“At Afterpay, we’re seeing the return of ’90s and Y2K fashion (think chunky footwear, shearling, butterfly print, and more. It’s very much in line with how Gen Z consumers like to shop, which is part of our core demographic.”

“What we’re noticing is that nostalgia cycles are shortening and people are keener to purchase ‘near vintage’ items, that being, styles which were present during their childhood rather than ones before they were born.”

“Afterpay data revealed that brands like Crocs, Ugg, and Old Navy, which all peaked in popularity two decades ago, were among the most popular brands during the holiday shopping season. As nostalgia cycles shorten it will be interesting to see which 2010 brands will be making a comeback.”

Click here and read the rest of the excellent piece. 

There has been a correlation between fashion and our own bleak view of the future ever since Chanel showed cocktail dresses with ragged hems during the 1930s (Forbes, 2014). We flashback even further to the French Revolution, where men (but not women) dressed down no matter what their stature as clothes became a political statement:

“…Lace cuffs, knee breeches, ruffles, frills, frockcoats, lighter colours, high heels, big wigs, the flamboyant Macaroni style—all of this fell out of favour. In its place came the rise of darker clothes, ankle-length trousers, matching jackets, suits, and short, natural hair.” (All About Candian History, 2016)

This drastic change was not merely a coincidence and we have to wonder in today’s society can we still attribute outside forces to our fashion sense. Let’s push forward to the most drastic event of the Millennial generation, The Great Recession. 

In 2007, just before the Great Recession, ruffled miniskirts and low rise jeans were all the rage with Ron Frasch (CMO of Saks Fifth Ave at the time) referring to the era as being “colourful and sexy” (Vox, 2018). Later that same year, the recession hit and fashion drastically changed. Even rich consumers, similar to the French Revolution, shied away from logoed clothes and bags perhaps in solidarity. “It was suddenly uncool to look rich” (Christian Binkley, former Fashion editor, Wall Street Journal); a trend that still persists today. Literally, fashion seemed to have changed overnight not figuratively but in taste. Stores slashed the price of inventory to remove those bright summer trends. Saks was the first to slash prices to 70%.

It was too late to retract the colour wheel and the Great Recession abruptly ended in June 2009; way too soon to create clothes that matched the mood of the citizens but that didn’t stop trendsetters from shying away from bright colours.

Even popular blog, popsugar.com had a hard time picking out which celebrity was the worst dress in 2007, showing how much the economic turndown affected the rich and powerful (popsugar, 2007).

Today, being aware of the tone of the economy isn’t just for people; businesses have learnt the hard way back in 2007 that the mood of people can dictate consumer behaviour on a large scale The fear of another economic turndown not only drives consumers to shop less but designers to create dark clothes in hopes to match the mood of the consumer and propel them to make a purchase. So perhaps the answer has layers. It’s certainly true that we noted that consumer behaviour changes when outside forces, either political or economical, make us re-examine our fashion choices. For now, we’ll be keeping a close eye on the runways and the FTSE to see what the future has in store.