The interrelationship and linkage of people and countries are known as globalization. Every industry and geographical location use this term. Over the years it has influenced all types of trades and commerce. Globalization has made it possible for all the countries to unite for trading. The specialty of every region can be easily found in every corner of the world. Therefore, globalization has made it achievable.
Many developed countries outsource their manufacturing and marketing to other developing countries. However, this allows them to have their work done at just half the price they would usually pay in their own country. For example, many textile companies from the USA and UK have their manufacturing units in developing countries like India and China.
The Global Assembly Line
Globalization has employed retailers and manufacturers
Globalization has provided low-cost laborers to big manufacturing companies and retailers. This has allowed them faster production at cheaper rates. Big global companies like Nike, Gap, etc. do not manufacture their goods in their own country. They rather outsource their manufacturing units to developing countries like China, Vietnam, the Philippines, Mexico, and Thailand.
From the raw material to cutting to assembling the goods, their manufacturing units in these countries do everything. However, these underdeveloped countries have high poverty. So the wages are very low. These retailers have lowered their prices for the consumers by lowering the labor cost. These manufacturers also subcontract to the sweatshops of the immigrant communities in the cities like Los Angeles or London.
Impact of Globalization on Fashion Industry
Globalization of the fashion industry continues to play a major role in the economic growth of the developed countries as well as developing countries. Over the decades, fashion has interconnected cultures across the world. Globalization has helped in increasing productivity as well as the quality of the products. It has made mass production possible and lesser time. Modern machinery took place of the traditional sewers. Due to which the costs for the consumers also decreased. Therefore, the globalization of the fashion industry has also helped the culture and tradition of developing countries. As they promote their culture and tradition on a global platform.
Due to desperation, people have forced themselves to survive the informal economic networks. In third-world countries, globalization has resulted in the destabilizing and dismantling of official economies. This has resulted in massive unemployment and the rise of informal or underground economies. However, mass consumption forms the dominant circuits of globalized fashion, other, less visible circuits span the globe.
Therefore, globalization has kept people up to date on each fashion trend. Also, globalization in the fashion industry has helped to integrate different cultural identities and traditions into fashion influenced around the world. Globalization in fashion has uplifted the country’s economy in many folds. It has helped create jobs for the poor and also helped with the economy of developing countries. As it has increased employment and involvement in developing countries and enforce social and environmental sustainability on a global platform.