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SOCIETY AND CONSUMER
Fashion Innovation Index

Apparel is the largest spending category, according to a study


Apparel continues to be the largest spending category, particularly during the holiday shopping season, according to a Fashion quarterly index that measures consumer sentiment toward fashion trends in the apparel, footwear and accessory industry.
Redacción 28/11/2013 Send to a friend
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The quarterly FIndex survey, released today by Indiana University´s Kelley School of Business, Kalypso and CollegeFashionista, also suggests that these young, fashion-conscious consumers will delay their holiday shopping to wait for discounts and sales on the part of retailers.

The Center for Education and Research in Retailing and Kalypso, a global consulting firm that focuses on innovation, created the Fashion Innovation Index -- the FIndex -- to help retailers better track and understand consumer sentiment toward the innovativeness of merchandise quarter to quarter and more quickly identify and adopt emerging fashion trends.

The FIndex is based on survey data obtained from a representative sample of CollegeFashionista’s 600 "style gurus" who report on fashion trends at college campuses around the world. Style gurus are a curated group of college-age students who possess a keen eye for new style trends in all realms of the fashion industry.

Here are other findings from the 2013 FIndex holiday shopping survey:
  • The index of purchase capability is lower, with more gurus indicating they have less to spend than last holiday season.
  • While apparel still ranks first in relative importance, footwear and accessories are now tied for second. Accessory categories are gaining in importance relative to footwear when compared to the back-to-school shopping period.
  • When making decisions about purchases, style gurus find Internet sources to be the most important. Magazines and social connections are next in line and essentially equal in importance.
  • Mobile continues to grow in importance as a purchase channel. Approximately 10 percent more style gurus will make mobile purchases during holiday season, as compared to their activity during the back-to-school season.
  • The perception of product innovation for future seasons is higher than the measure in September, indicating that the style gurus´ perception of products they are seeing on runways and fashion spreads is attractive.
The FIndex also tracks brands, including those less familiar to consumers but with strong advocates among trendy fashionistas. Top brands were measured across four factors: awareness, purchase intent, personal purchase choice and advocacy for the brand. These were accumulated to create the index scores below. Brands in bold may be considered emerging brands as many style gurus are not aware of them but those who are aware are very passionate about them. Top 10 brands are: 
  1. Zara, brand
  2. Marc Jacobs
  3. Topshop
  4. Sephora
  5. Anthropologie
  6. Steve Madden
  7. Free People
  8. Essie
  9. Michael Kors
  10. Opi

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