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How fashion trends start.

An information cascade happens when the optimal decision of an individual is solely based on the decisions taken by individuals before him, ignoring their own information.

We can observe information cascades and diffusion of information clearly in fashion trends. The following article explains the formation of fashion trends dividing them in 5 different types:

https://womens-fashion.lovetoknow.com/womens-fashion-history/how-do-fashion-trends-start

  • Runway trends inspire information cascades because they are the first exposure clients have to new products and watching them in a legitimate show will encourage them to like those products better.
  • Street Styles lead to information cascades because they are a source of inspiration for the general public who wants to fit in or imitate what others are wearing.
  • Celebrities are cascade starters because they are in the viewpoint of future buyers. An example of a trend started by celebrities are stilettos.
  • Fashion Bloggers start information cascades because they provide information and a new perspective on new products which influence consumers.
  • Fashion Capitals of the World can also start cascades because millions of eyes are focused on them and therefore have great power of influence.

What all of these have in common is the fact that the people in each of them are the initiators of information cascades. Since the initiators are generally more exposed to viewers they become a bias in the choices of individuals who buy clothes after them. Clients will make their fashion choices based on what these models, celebrities, bloggers and other people in the streets are wearing, which means they will participate in information cascades.

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