There are only so many ways to reinvent the wheel, and as a result, we often look to the past for ideas and inspiration. This is not a new phenomenon in the fashion industry; as we progress in time, outdated looks are consistently modernized for the current season. In the upcoming summer months classic items like dresses, polo shirts and ballet flats have been updated giving a twentieth-century twist on the fifties clean and wholesome look.

Matching the overall trends of globalization, today’s fashion has much more international influence; from Asian to European persuasion, ethnic flare is sharing the catwalk with bold colors and detailed cuts. However, this season’s biggest trends are not only falling under the category of apparel. Technology is making leaps and bounds into every day life and high-tech gadgets are making a statement that they’re here to stay. The purpose of this report is to comment on 2007’s spring and summer trends to ultimately predict the retailing success of a company.

Summer Must-Haves
For the female consumer, this summer marks the vengeful return of the flirtatious feminine look. Sassy dresses, billowing skirts and empire-waist tops adorn the shelves in many stores. The look is light and easily pulled together but still commands class and sophistication. Continuing from last year’s breakthrough, dressier shorts and capris in neutral tones are being paired with more exuberant colored tops and footwear. With popping colors like pink, yellow, green and purple splashed across the racks, it is hard to deny the fun behind this season’s kaleidoscopic collection.

What do tight spandex shorts, tops and pants all have in common? Not just the material they’re made out of, but these are all items women wear when they headd to the gym to work out. With an increasing trend in healthier living styles, both men and women are finding it increasingly important to follow regular exercise routines. And whether it’s going to a gym, working out at home or going for a run outside, women want to look stylish while they are doing it. Companies such as Lululemon have capitalized on this and have dedicated their businesses to providing yoga attire in all different cuts, colors, shapes and sizes. But they aren’t the only company taking advantage of this trend; Nike, Roots and upcoming Lileo are all battling it out for a piece of the market share pie.

Footwear has jumped off the fence onto two separate sides: the mile-high heel or the versatile ballet flat. Following the suit of summer fashion, shoes are appearing in all colors of the rainbow with detailing and embellishments for any occasion. Patent leather, or the wet look, along with metallic shades continues to be a big seller. What is this summer’s hottest look for shoes? Like apparel, it’s all about the past reinvented, and this season’s biggest comeback is the peep-toe shoe. Available in both the heeled and flat styles, it’s the one item being pushed by all major footwear chains. Montreal-based Aldo alone is currently carrying at least several dozen of this style in its summer line.

Accessories are another key item for any fashionista, and it’s all about the oversized. The larger, the better. Handbags are spacious enough to fit all of a woman’s items from day to night. Belts continue to be wide and worn above the hip, making it the “it” accessory for any outfit this summer. Paralleling summer footwear, accessories are coming in matching patent leathers and metallic colors, better complementing the overall ensemble.

Men’s fashion for the most part is coming in as basic as it will ever be. Collared shirts and polos continue to be a favorite choice amongst many, with well-known brands like Lacoste, Ralph Lauren and American Eagle pushing the classic summer look for everyday wear. Khaki shorts still remain a favorite alongside the staple blue jean and while tee shirt. When it comes to the more dressy attire, men are finding themselves most comfortable in sweater vests over a crisp white tee shirt paired with khakis or jeans. Another very popular look this season is the patterned collared shirts in an array of wacky prints including stripes, and checks. While the colors this season are pretty subdued with a lot of grays, whites, blacks and beiges, there has also been a splash of colors such as pink, purple and blue making the cut for male shoppers.

Fast Fashion versus Contemporary Basics
It’s another round of the battle between fast-fashion chains like Zara and H&M and all-American institutions Gap and Abercrombie & Fitch. All stores are carrying similar items – no single brand is being ousted yet for releasing an oddball line – ensuring that each and every shopper finds the perfect fit. Be it a dress, an empire waist top, polos or shoes, there’s enough selection out there for everyone.

Naturally, Zara continues to focus on the more fashionable styles with funkier detailing and more outrageous prints while Gap travels the safe road with traditional, cleaner cuts and patterns. As a result of their more daring selection and exciting appeal, fast-fashion chains with European flare are leading the pack in this summer’s best picks. In tune with trends and consumer preferences, these stores are providing the leading fashion items with rotating inventory and a quick turnover rate constantly drawing consumers into the stores.

Though companies like Gap and Abercrombie still exist as staples to a wardrobe, khakis and jeans are not the driving force for this season. While many have shifted their focus away from the basics, there are still additional items that continue to draw people into their stores. These include flip-flops, tanks and swimwear ranging in all colors of the spectrum — fundamental items for the summer rather than killer must-haves.

Tech-ccessories
This generation is all over technology. From cellular phones to PDAs, iPods to laptops, these gadgets make a bold statement about each and every individual. Particularly for the male consumer who generally cares less about fashion, companies can cash in on these shoppers who are more than willing to pay top dollars for a high end product.

A glance around the street can find Motorola’s flip RAZR and slider RIZR phones all over the street. Moreover, these products cater to both sexes with flashy colors ranging from hot pink to gold, red to blue, black to silver. Take a stroll through downtown and RIM’s Blackberry has a dominating presence. Even hybrid cars are making a huge splash on the scene. Toyota’s Prius is racing ahead, but many other car manufacturers like DaimlerChrysler and BMW are jumping on the hybrid bandwagon. What about the white headphone cord? Apple’s revolutionary iPod has captured more than 80% of the market share of digital music players, and though the number might be falling, they have sold more than 100 million units since its initial debut in November 2001.

Named the “Most Innovative Company” for the third year in a row by BusinessWeek Magazine, the Apple Corporation represents far more than just iPods on the streets. Its success parallels other companies such as Starbucks and Urban Outfitters; Apple represents a lifestyle that individuals are happily buying into. Best characterized by their lateste round of ads, “I’m a Mac and I’m a PC”, each is depicted by a different personality. The PC is portrayed as a middle-aged man who’s mundane and old-fashioned, contrasting starkly with the younger and more hip character playing the Mac. His life is simple and easy, reminiscent of their comprehensive suite of products. From the iPod to the MacBook, the iTV to the iPhone, everyone is buying into the i-technology.

It’s All About Collaborating
This season’s move towards a wider range of companies other than fashion is no fault of apparel retailers, but rather a change in individual consumers needs for something more. In the same way that luxury brands strive to maintain their prestige, shoppers are looking for more ways to define their looks than just in their clothing. With a huge reliance on technology already, it was inevitable that these high-tech gadgets would become the next fashionable and must-have accessory. The adoption of technology marks the next step for trendsetters, and just as Apple and Nike have merged together to release an exclusive fitness product, companies from both the fashion and technology industries will need to collaborate in order to capitalize on the current consumer market.

After a brief look into spring and summer’s hottest trends one thing is apparent, it is no longer just about what you wear or what gadgets you have. Combined they create a statement about who you are and what you stand for. Over the years, we have strayed away from simply buying just clothes or electronics and have turned our focus to acquiring products that fit into a lifestyle that we want to portray to others.

—compiled by Tiffany Choy and Stefanie Rosenblatt


The Canadian Value Investor © 2007