Fast fashion: business models and strategies for adapting to the COVID-19 crisis
Journal of Fashion Marketing and Management
ISSN: 1361-2026
Article publication date: 18 July 2022
Issue publication date: 3 May 2023
Abstract
Purpose
This study aims to develop and test a methodical approach to assessing the effectiveness of business models in fast fashion.
Design/methodology/approach
The approach allows one to identify the key features of companies' adaptation strategies during the COVID-19 pandemic. The paper analyzes the economic profitability of the fast-fashion industry and establishes business opportunity trends. The author identifies a set of general characteristics of business related to supply and demand before and during the pandemic crisis. The study relies on descriptive statistics and statistical processing methods, including regression analysis, arithmetic mean and the indicator of market economy dynamics.
Findings
The study found that the fast-fashion business model allows companies to adapt to the new market norms because of its dual strategy: demand-driven transparency and supply-driven sustainability, within the logic of consumption. The results indicate that focus on sustainability and transparent stakeholder engagement helps companies to remain relevant in the fashion industry.
Originality/value
The results of the study can be used by general managers of companies, marketers and administrative managers to select strategies and make decisions under the current and future fashion industry demands in markets at different developmental stages.
Keywords
Acknowledgements
Funding: This study was supported by 2021 The “Textile Light” China Textile Industry Federation Higher Education Teaching Reform Research Project “Apparel Design Major Courses Online and Offline Hybrid Mode Construction,” phased achievement (no. 2021BKJGLX693) and the phased achievement of “Online and Offline Hybrid Apparel Design Practice Courses Teaching Reform Based on School-Enterprise Sharing Platform” (no. 2021BKJGLX721).
Conflict of interests: The research has no conflict of interests.
Data availability: Data will be available on request.
Author contributions: Ling Li confirms sole responsibility for the following: study conception and design, data collection, analysis and interpretation of results and manuscript preparation.
Citation
Li, L. (2023), "Fast fashion: business models and strategies for adapting to the COVID-19 crisis", Journal of Fashion Marketing and Management, Vol. 27 No. 3, pp. 452-469. https://doi.org/10.1108/JFMM-04-2022-0077
Publisher
:Emerald Publishing Limited
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