The green evolution: 4 sustainability trends for fashion and retail
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Fashion
Global challenges have signaled that 2021 is the year for fashion brands and retailers to take bold action. There is a role to play to help combat the climate crisis, and in order to stay relevant and be competitive this cannot be ignored.
A landmark study conducted by the Global Fashion Agenda and McKinsey found that the industry’s greenhouse gas emissions are on a trajectory to rise by nearly a third by 2030. Waste has long been synonymous with fashion, with an estimated 80bn pieces of clothing consumed per year worldwide.
The case has never been more compelling for fashion companies and retailers to reassess their strategies and innovate with a focus on sustainability. Playing a part in protecting the environment is not only the right thing to do, it also gives businesses a competitive edge.
Are you struggling to clearly communicate your sustainability practices externally? Can you ensure your suppliers meet the rising expectations of savvy customers? Do you want to do away with waste and unsold products? Are you looking for the best way to make sustainability part of your corporate DNA?
The following 4 trends will undoubtedly have the biggest impact on fashion brands and retailers in 2021 and years to come:
1. Environmentally and ethically sound products
The movement towards sustainable purchases has gained enormous momentum. Everything from carbon footprint to labor practices has become public domain, and the prevalence of social media influencers promoting sustainability is a powerful force. Failure to meet consumer expectations puts your brand at risk.
2. Durability of products is paramount
Consumers are seeking products that will stand the test of time. Gone are the days of cheap and cheerful disposable fashion; quality over quantity is the new gold standard. While this may sound like reduced sales, the key to success is understanding the way consumers make decisions and creating products that match their desires.
3. Innovative materials and exceptional service
A ‘materials revolution’ is on the rise as fibre technology and materials science has entered mass markets. There is rising investment and a commitment to producing the most sustainable materials for fashion. Innovative brands are offering features such as long-term guarantees, free repair services and technical material specification to meet this evolving demand. This requires sophisticated sourcing processes, integration from manufacturing to customer service and streamlined data management.
4. Personalization
According to research by Epsilon and GBH, 80% of online shoppers are more likely to make a purchase if retailers offer personalization. This preference is in-line with the sustainability movement as customers are turning away from mass-produced items in favor of high quality, crafted pieces that express individuality. This level of customization complicates production, leaving room for error. Digital innovation is crucial to meeting this demand and managing the operational complexities.
To read the full trend analysis, download the free eBook: 4 Essential Sustainability Trends for Fashion and Retail. Discover how you can embrace industry changes, protect the environment, boost product development and grow profitability. With these insights you can make transparency the bedrock of your operations while safeguarding your bottom line.