CFDA explores NYFW: Men's: “The time is favourable for change.”
The fashion industry has spent much of 2016 focused on fashion week, specifically how to get the general public better involved and how to get a better return on investment. Some designers and brands have opted to show collections when it hits stores and others will show styles that will be immediately available.
The Council of Fashion Designers of America (CFDA) took action by hiring Boston Consulting Group too see what changes can be made about fashion week, and came to the conclusion that “the time is favourable for change.”
To better understand the fashion week shows, the CFDA shared the NYFW: Men’s Influencer Report created by Launchmetrics (formally Fashion GPS). The report illustrates key patterns and similarities within the changing Fashion Week landscape.
According to the Influencer Report, 60% of attendees are journalists and online journalists, followed by retailers at 14%, stylists at 6% and bloggers and photographers with 5% each. Of the US guests, 76% are based in New York City, and 56% of the non-US guests are from Western Europe. Japan followed Western Europe with 18%.
In the social media world, the #NYFW hashtag roped in the most traffic with over 20,000 posts, nearly 55,000 comments and almost 2.8 million likes.
The CFDA and Launchmetrics discovered that online media will continue to grow in importance, but traditional print media will remain as an authority to the general public. Instagram leads as the top channel in image distribution and brands have the opportunity to boost their image and drive ROI through this channel. In addition, the next step for marketing will be precise targeting capabilities.
Seven years ago, Eric Wilson wrote for the New York Times how bloggers have begun sitting front row at fashion shows and “have democratized fashion itself”. Fast-forward to 2016 and the same editors and writers that felt overshadowed by bloggers have adjusted to game’s new rules. What is very interesting is how bloggers account for only 5% of show attendees while journalists still remain in large numbers.
The old traditions seem to be upheld; in fact, the Boston Consulting Group study found that majority of people did not favor opening runway presentations to the general public and felt that not all clothing should be immediately available after the show. Still, the CFDA said it will “encourage designers to try new concepts” adding to the notion that change is good.
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