For those of you out there who think brand and fashion have broken up and don't even go to the same parties anymore, think again.
Brand continues to pull at the heartstrings of consumers
after the economic free-fall of 2008, when only 8% of consumers said they cared
all that much about brands. Well, according to 7,500 men and women, 21-65 years
of age, drawn from the 9 U.S. Regions, this couple is back on after their
break, with nearly a third of consumers saying brands are an important factor
in their purchase decision – more than tripling in importance in the last four
years.
This fashion trend has been confirmed by recently reported
retail sales where high-end retailers, i.e., those selling brands, have done
significantly better than retailers selling predominantly on price. Ralph
Lauren, Armani, and Major League Sports brands led this year’s list.
So, what was it exactly that put the spark back in this
union? A little something called meaning, which is a big factor in how people
decide what something is worth to them. In fact, the change in the economy was
what drove up the importance of true brands – brands that actually stand for
something in the minds and hearts of consumers.
For the back-story on what brands made the all right moves
in this successful consumer romance, click here for more on our Fashion Brand
Index study and to see how real brands ranked.
By the way, it’s not only consumers who feel this way.
Professionals too. The legendary designer Giorgio Armani once noted, “The
difference between fashion and apparel is brand.”
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