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Home»Fashion industry»How will this impact retail manufacturing?
Fashion industry

How will this impact retail manufacturing?

uno_usr_254By uno_usr_254June 29, 2024No Comments6 Mins Read
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What is fast fashion?

Fast fashion is low-cost, yet stylish clothing that moves quickly from design to retail in order to capture and capitalize on trends. Collections are often based on styles shown at runway shows during fashion week or worn by celebrities. Fast fashion allows everyday consumers to purchase new styles at affordable prices.

Fast fashion was born out of cheaper and faster methods of production and delivery, consumers’ desire for the latest styles, and the increasing purchasing power of young people in particular. Fast fashion challenges the established clothing brands’ tradition of releasing new collections or lines on a regular seasonal basis.

Key Takeaways

Fast fashion refers to low-cost yet stylish clothing that is quickly available in retail stores, with new collections being introduced continuously. Innovations in retailers’ supply chain management have made fast fashion possible. Zara and H&M are two of the biggest companies in the fast fashion sector. Fast fashion offers consumers affordable prices and instant gratification. Fast fashion creates waste, unfair labor treatment, and harmful environmental pollution.

Understanding fast fashion

history

Clothing shopping was once thought of as an event where consumers purchased new clothing periodically over time. Style-conscious people could get a sneak peek at upcoming styles by reading fashion magazines and watching fashion shows that showcased new collections and clothing lines months before they appeared in stores.

In the late 1990s, shopping became more of a leisure activity, and discretionary spending on clothing increased. Fast fashion emerged, allowing cheap, mass-produced knock-offs of fashionable items at low cost, allowing consumers to wear clothes similar to what they saw on the runway.

growth

Fast fashion was driven by innovations in supply chain management (SCM) among fashion retailers. It is based on the premise that consumers want high-end fashion at low cost. Fast fashion follows the concept of category management, connecting manufacturers and consumers in a mutually beneficial relationship.

The fast fashion market is predicted to reach $197 billion by 2028.

Fast Fashion Leader

The major players in the fast fashion market are Uniqlo, GAP, Forever 21, Topshop, Esprit, Primark, Fashion Nova, New Look, etc. Two of the leaders are:

Zara: Spanish retail chain Zara is a flagship brand of textile giant Inditex and is synonymous with fast fashion. With a short supply chain, Zara’s designers can have finished products on store shelves in just four weeks, or alter existing items in as little as two weeks.

More than half of the company’s factories are located near its headquarters in A Coruña, Spain. The company produces more than 11,000 pieces per year, compared with an industry average of 2,000 to 4,000.

H&M: Founded in 1947, Sweden-based H&M Group (short for Hennes & Mauritz) is one of the oldest fast fashion companies. As of 2024, the H&M Group operates in 76 countries with over 4,200 stores.

The H&M Group acts like a department store, selling clothing, cosmetics and home products. It does not own its own factories and relies on independent suppliers for its products. H&M’s production offices monitor their suppliers using state-of-the-art IT systems that track inventory and communicate with its headquarters. The factories that H&M works with are located throughout Europe, Asia and North America.

While the traditional clothing industry model operates seasonally, with fall and spring fashion weeks showcasing fashion for the four traditional seasons, fast fashion brands produce around 52 microseasons per year, or one new collection of clothing each week that is meant to be worn immediately.

Pros and Cons

advantage

Beneficial for manufacturers and retailers: The continuous introduction of new products encourages customers to visit stores more frequently, increasing purchases and boosting revenue. Retailers don’t replenish inventory, but replace sold-out items with new goods. Fast response to consumers: Fast fashion allows shoppers to get the clothes they want, when they want them. Makes clothes affordable: Smart, innovative, and imaginative new clothes, as well as fun and impractical items, are now more affordable and widely available to all consumers.

Demerit

Decline in domestic manufacturing: Fast fashion has contributed to the decline of the U.S. clothing industry, where labor laws and workplace regulations are strict and wages are better than in other countries. Reinforces a “disposable” mentality among consumers: Fast fashion has been called disposable fashion. Many fast fashion enthusiasts, who are in their teens and early 20s and targeted by the fast fashion industry, admit that they only wear the clothes they buy once or twice. Bad for the environment: Critics argue that fast fashion contributes to pollution, waste, and planned obsolescence due to its cheap materials and production methods. Fast fashion clothing is primarily made from synthetic fibers (over 60%) and therefore cannot be recycled. Unregulated labor practices: In developing countries where regulations are few, manufacturers may not oversee subcontractors, enforce labor rules, or be transparent about their supply chains. Theft of intellectual property: Some designers claim that their designs are illegally copied and mass-produced by fast fashion companies. Pros

Beneficial for manufacturers and retailers

Providing fast and efficient delivery

Make clothing affordable

Cons

Decline of domestic manufacturing

Encouraging a “disposable” consumer mentality

Harmful to the environment

Unregulated labor practices

Environmental impact

While it may be difficult for consumers to avoid products made by companies that practice fast fashion, they can research fast fashion brands to see if they use sustainable processes and support fair labor practices. Consumers can then determine for themselves how fast fashion impacts the environment and the people who work in the industry.

Buying clothes from thrift stores helps reduce clothing waste and extend the life of your clothes.

According to statistics from the United Nations Environment Programme and the Ellen MacArthur Foundation:

The fashion industry uses 93 billion cubic meters of water per year. It takes 3,781 liters of water to make one pair of jeans. 20% of the world’s wastewater comes from textile dyeing and is highly toxic. Many countries where clothing is manufactured have weak or no regulations on wastewater treatment. Around 500,000 tonnes of microplastic fibres from clothing (nearly 50 billion plastic bottles) end up in the ocean. Fashion manufacturing is responsible for more than 10% of global carbon dioxide emissions.

What is slow fashion?

Slow fashion, a concept first coined by fashion and sustainability consultant Kate Fletcher in 2008, refers to mindful manufacturing, which uses environmentally friendly processes and materials and prioritizes quality over quantity. Pioneered by 3D printing company Stratasys, mindful manufacturing is a concept that involves developing more efficient production, proper disposal of chemicals and solid waste, reusable materials, and recycled packaging.

What are some examples of fast fashion?

Examples of fast fashion companies include Stradivarius, Victoria’s Secret, Urban Outfitters, and Zara.

Who benefits from fast fashion?

While consumers benefit as they take advantage of lower prices and enjoy the latest fashions, the primary beneficiaries are the investors, owners and other stakeholders who profit from the practice.

Conclusion

Fast fashion increases consumer spending and profits. It satisfies consumers’ desire to be part of fashion trends. However, critics argue that the industry contributes to climate change, pesticide pollution, and increased waste. As long as consumers demand the latest styles at low prices and to replenish quickly, the debate over fast fashion and its alternatives will continue.



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