profit
Profit is one of the four pillars, which refers to the money that comes out of the fashion industry by subtracting the cost from the revenue. profit is not entirely related to monetary value, but can also refer to the value of the brand that is obtained, such as the good reputation or loyal customers that a brand gains while operating.
The fashion industry is a billion-dollar global enterprise, specifically all entrepreneurs, sales and customers involved in the fashion industry in the same market where clothes or shoes are sold and purchased (Major and Steele). The fashion industry covers a wide range of products, mainly around general clothing or haute couture.
The manufacturing, designing, marketing, advertising, retailing and selling are the most important steps in order to make good clothes. It is for this reason that many occupations such as fabric suppliers, fashion designers, marketing officers, fashion PR, fashion buyers and retailers have been created in this industry. The suppliers provide the raw materials for the designs, the designers design the clothes with different cuts and styles, the marketing officers and fashion PRs increase the awareness and recognition of the brand to increase the potential purchasing power, and finally the fashion buyers and retailers make the clothes sell faster and gain profit, they cooperate They work together to make a brand more famous and profitable, and also to make the whole fashion industry better, they are indispensable.
However, today’s society is changing rapidly, and if people in the fashion industry don’t adjust their strategies in time, they may face being eliminated from the industry tomorrow. I think the most effective way to do this is to use social media well for marketing. Social media is one of the most common mediums for marketing and has been around for centuries, but in different forms. Today the most commonly used apps are those on cell phones, including Instagram and the tiktok, which goes to show that no matter how much the fashion industry changes, social media can always help make it more stable. In the fashion industry, historically every year buyers and mediad have been able to see brands showcase both spring/summer and fall/winter fashion collections. With social media, the speed of information dissemination is now instantaneous. Consumers can watch the fashion shows live online, view everyone’s comments in real time through social media channels, and get updates from the brands. With this increased exposure, the company is able to create new trends and sell more and more garments in a short period of time. (PETERSON)
Reference：
Hethorn, Janet. “Bloomsbury Fashion Central.” Www.bloomsburyfashioncentral.com, www.bloomsburyfashioncentral.com/encyclopedia?docid=b-9781501312250. Accessed 21 Oct. 2022.
Major, John S, and Valerie Steele. “Fashion Industry.” Encyclopædia Britannica, 20 Dec. 2018, www.britannica.com/art/fashion-industry.
PETERSON, DOMENICA. “Social Media as a Tool for Social Change.” Www.bloomsburyfashioncentral.com, www.bloomsburyfashioncentral.com/encyclopedia-chapter?docid=b-9781501312250&tocid=b-9781501312250-chapter4. Accessed 21 Oct. 2022.