The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
In 2023, marketers simultaneously embraced the bold and went back to basics.
It was the year of Barbiecore and Formula One, both of which served as examples of how brands can harness the power of cultural phenomenons. But it was also the year that consumers went crazy over “quiet luxury” and renewed focus on brand marketing in the face of dwindling effectiveness for social media advertising.
Marketers and PR practitioners evolved their strategies to fit today’s realities. Thanks to TikTok, trends move faster than ever, but brands are getting better at playing that game, taking advantage of online interest in the next crop of “It” Girls and blockbuster tours from Taylor Swift and Beyoncé. Plus, fashion got a star-studded boost from the SAG strike as actors, unable to promote their projects, turned up at fashion weeks in full force.
In influencer marketing, trending phrases like “deinfluencing,” came and went, but the sentiment behind them remains: Consumers, inundated with options, are priorisiting trust in the influencers and brands they shop from. As mishaps like Shein’s ill-fated influencer factory trip proved, they won’t hesitate to call out creators they feel are misleading them.
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Meanwhile, Twitter’s decline continued as Meta launched imitator app Threads, but it was TikTok that further solidified its status as fashion’s new go-to social media platform, with everyone from luxury brands to smaller-scale style creators taking off on the app. In 2024, TikTok’s influence in fashion is set to grow further after the US launch of TikTok Shop, its online shopping platform, in September.
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Case Study | The Essential Brand Marketing Guide: Building emotional, even inspirational, connections to a product is more critical than ever in fashion and beauty. In today’s hyper-competitive, crowded environment, marketing strategies that make brands stand out and stay culturally relevant need a mix of old and new tactics.
The PR Machines Building the Next Generation of ‘It Girls’: The girls we can’t stop talking about today have that it factor, but they also are armed with publicists and stylists curating their image.
How Brands Are Selling Quiet Luxury to the Masses: A wide swath of labels are trying their hands at the understated look, minus the eye-popping price point. It’s a natural fit for Vince or Banana Republic. But Shein?
The Life Cycle of a Viral Fashion Trend: BoF explains why online trends from cottagecore and quiet luxury to Barbiecore and coastal grandmother bubble up and go mainstream — and how brands can capitalise on them.
How TikTok Changed PR: Spin doctors and amateur sleuths relish in revealing the tricks of the trade on social media. As a result, today’s consumers are savvier about spin than ever, forcing brands to change tactics.
How 2023 Became the Year of the Lab-Grown Diamond: Consumers are increasingly buying into the idea of lab-grown stones, altering long-held jewellery industry standards for how diamonds are sold.
Why Brand Marketing is here to stay: What do Poolside FM and Isamaya Beauty have in common? Their founders have created brands with unique yet relatable identities.
