Streetwear is now an extremely disruptive fashion trends in recent times However, it’s easy to dismiss as a passing trend. It comes down, according to the theory to hoodies and sneakers but eventually, people will grow tired of them and move on as they do with other trends in fashion.
But streetwear is much more than that, argues a new report by Strategy&, the global strategy division of professional-services giant PwC, and Hypebeast, a streetwear-centric media company and retailer. It can be described as an look that combines graphic-heavy hoodies with T-shirts with casual American sporting wear, references to military like M-65 jackets, puffers and, of course, sneakers. However, it’s not about any particular product. It’s more the result of huge cultural shifts as well as a profound shift in the power imbalance between consumers and brands.
Its growth doesn’t seem to be slowing also. Strategy& and Hypebeast surveyed 763 individuals from the retail and fashion industries. 76% of them said that they believed streetwear will continue to expand dramatically over the next five years. “Streetwear doesn’t represent an actual trend in fashion it is a fashion element of a larger cultural shift that spans fashion music, and art,” the report says. “Whether sneakers are popular isn’t the point. The mindset that is driving the rise in popular culture is likely to not change.”
This type of mindset places emphasis in authenticity, and also trusting other like-minded people–mostly via social media nowadays, rather than looking at traditional sources like fashion websites or magazines. The person who has this attitude is typically young, a fan of hip-hop and is willing to invest for casual or exclusive clothing that convey a sense of information. This creates a streetwear culture that is “democratic,” the report states, as the public decides what’s fashionable. “The difference between modern streetwear and fashion in general doesn’t boil down to the size of a sneaker or the handbag, but rather to the person who drives the design of taste,” it says.
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In this sense streetwear is a symbol of a larger trend, where power has moved from corporations to consumers. The global consultancy A.T. Kearney has described the shift as a change out of an “affluence” model where money was used to gain access to a “influence” concept.
The fashion industry was historically based from the top the top: Gatekeepers, such as brands and gatekeepers such as editors held the majority of the information and power and were able to spend large amounts spreading that information to the public. However, the advent of social media and the internet provided consumers with their own channels and reach and let communities develop around shared values and interests. The peer group began to become more important than gatekeepers.
Streetwear is designed to take this kind of approach, Strategy& and Hypebeast note. It was born as part of a counterculture which embraced artists like Jean-Michel Basquiat as well as Keith Haring, as well as rap culture that, according to the report it was the driving force within the new movement. The clothing component was popularized in California’s surf and skate scene Then it moved towards New York during rap’s early days, where it took on significant influence, before major figures from cities like London and Tokyo took it on.
The brands involved, including Stussy, A Bathing Ape and Supreme did not seek out traditional channels for retail including distribution within large department stores, in which they could sell their merchandise to the general public. Their focus was on selling directly to people who were like them, and pioneered an now well-known “drop” method where they sold a small number of items into shops. Because they were from the same world as their target market they knew the people they were selling to.
With the advent online, this audience became an online community that was able to coalesce through forums such as NikeTalk, BapeTalk, Strictly Supreme and Sole Collector in which users exchanged information and also bought and sold items. The forums have been dwindling however, the same kinds of activities are happening through Instagram and resale sites on an even larger scale and have created a massive consumer movement that’s increased in size as the popularity of streetwear as well as the culture which fuels it have grown exponentially.
Hip-hop, with close ties with streetwear, has become the most popular music style within the US and is expanding to other countries as well, including China. Streetwear brands like Supreme have become popular in the world of mainstream fashion. Even luxury brands have no other choice but to watch. Streetwear-inspired designers like Virgil Abloh and Kim Jones are among the top-performing in fashion, directing male wear in Louis Vuitton and Dior, respectively. The connections to contemporary art persist as well, with well-known artists like Daniel Arsham, Kaws, and Takashi Murakami.
They are the ones that streetwear buyers still look at to get their inspiration. The report conducted a survey of nearly 41,000 shoppers around the world predominantly located in Asia, Europe, and North America, and found that industry insiders, musicians along with contemporary artist were among those who were considered to be the most influential in the world of streetwear. They ranked ahead of social media influencers as well as athletes, celebrities, and other famous people.
Hypebeast’s perspective isn’t completely impartial when explaining the impact of streetwear. It’s a publicly traded firm which stands to gain from the growth of streetwear. However, it has gotten to the point it is today through being a top source for news about streetwear and being aware of its customers.
The audience is known for its love of shopping. Of the 41,000 people interviewed 54% said they spend $100-$500 on clothing and accessories every month.