Aisling O’Connor: Hats off to the fashion industry at a time of economic turmoil
DEEP in a global spending recession, the fashion industry is rallying to scramble for and share customers. The hotel and airline industries have been employing strategic alignment tactics for decades to cross-promote their brands to new customers in geographic, age and socio-economic demographics.
TV talking-heads keep telling us that industries and economies will recover if people start spending again. This year must-have, affordable luxury-branded goods have gotten consumers swiping their credit cards again.
The fashion brands, designer and low-end budget, who are surviving and thriving are those who are collaborating to delve deep into each other’s pockets. In sharing customer bases, these brands have tapped into each other’s markets and have also discovered new ones.