Fast fashion companies are increasingly addressing rising consumer concerns by launching sustainable sub-brands or special eco-campaigns. Are these actions enough to generate continuous business growth in the years to come as more consumers reject the sector's high-volume, high-turnover, and low-price approach?
In a survey of consumers in the U.S., U.K. and Germany, UBS found that more than half are aware of people who have changed their shopping behavior over environmental concerns. And they found a willingness to change, in that while 58% said they were previously unaware of apparel's environmental impact, 20% to 25% of those consumers would buy less clothing now that they are, and 28% to 31% said they'd seek out sustainably manufactured clothing.
One thing we know for sure is that there will be more sustainable apparel and footwear products developed from new performance and sustainable materials on the market. Consumers can use their buying power to influence what fashion companies produce for an Ever Better World.
"The compounding effect of consumers buying fewer items but also shifting the purchases they do continue to make to items that they perceive to be more sustainable could be severe"
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