Munich Personal RePEc Archive

Does economics treat fashion in a similar way everywhere?

Hasan, Dr. Syed Akif and Subhani, Muhammad Imtiaz and Osman, Ms. Amber (2012): Does economics treat fashion in a similar way everywhere?

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Abstract

The fashion is a habit, which dies really hard. People around the globe follow the most famous fashion styles and trends in the world. Since centuries, fashion has moved in different classes and bred to an enormous extent that every individual has its own fashion sense and in general accepted fashion, which is famous by the majority. One’s clothing, shoes, watches, hand bags, belts etc are all wearable’s have been tagged with fashion. This paper studies fashion through the economical strands. These strands, which empower any nation’s economy, namely per capita income and inflation also, are a sound indicator of the fashion industry. The consumption patterns of countries like India, U.S.A., Pakistan and Australia are gathered for its specialty and being pioneers in fashion. The results stated that per capita income and inflation does affect fashion in Pakistan, U.S.A. and India, while Australia’s case is opposite. It is due to the fact that these countries have diverse socio-economical conditions along with different culture set and lifestyles, being one of the eminent reasons of fashion industry review via basic economical indicators.

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