Has Crowdfunding Changed the Fashion Industry?


Elizabeth Bates writes on Entrepreneur on how the classic model for production in the fashion industry is being disrupted.

While Bates notes that “Historically, an item of clothing was not produced until a customer ordered it. In an industry that has moved beyond bespoke toward mass offshore production,”are we ready to try something new that might behoove both people and planet?

Bates writes: “Contrast this with the modern-day retail model: Brands design an entire season’s collection of 10-15 styles, do their best to estimate the demand based on wholesale orders or past seasons’ performance, and then produce thousands of pieces abroad. These mass-produced pieces are presented to consumers at inflated prices to account for probable markdowns as time and excess supply devalue them. ”

Are we as a society ready to wait longer for our purchases or does it give us too much time to think about what we are buying versus impulse buying?

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