fashion industry

Three Surprising Facts About the Fashion Industry

The business of fashion is ever changing. Fashion – loathe it or love it – it is something that you can’t afford to ignore. No matter whether you are strolling along the streets, flickering through TV channels or standing in the line at a bus stop, you will face constant visual bombardments of adverts for latest designer trends offered by brands that you may or may not be interested in. While you may know much about fashion, here are three surpirsing facts about the fashion industry that you may not have known.

The fashion industry spends more than 500 billion dollars on advertising

With a big amount of money and the potency of huge margins, fashion retailers (big as well as small) expend a ridiculous amount of funds every year to induce you to buy their wares. While the current annual spending on adverts in the fashion industry stands at 500 billion dollars, the figure is only likely to rise.

Men’s fashion is catching up with women’s fashion

The men’s wear side of the fashion industry is growing by leaps and bounds. Traditionally, it was believed that women are more conscious about fashion. However, men are catching up with women in fashion these days. The growth of menswear is so strong that certain fashion experts think that total sales of menswear could actually overtake women’s fashion in the next decade.

Aside modeling, the fashion industry employs a lot of people

The truth is there are over 40 million people employed in the fashion industry all over the world (factoring in roles in manufacturing, designing, marketing, distribution, retailing communications, consulting and publishing). The above figure on employment is only increasing day by day with the ever increasing growth in the world of fashion.

Bottom line

Living without fashion is almost impossible in this fashion-oriented world. Whether it is footwear or clothing, you will find fashionable accessories all over. With the increase and dynamic changes in the fashion industry, it will be no surprise if we find more interesting and unbelievable facts about the fashion industry in the years to come.