The Rise of Fast Fashion
Fast fashion is a key representation of how people strive to obtain instant gratification. In past years, purchasers were convinced that taking the route of paying for major fashion labels’ items to ensure quality along with the brand name was the right way to go. Today’s consumers, on the other hand, want the latest designs but are unwilling to pay the high price because they do not value quality as highly. This presented realtors with an opportunity, which they immediately seized, and created what is today known as fast fashion.
The Impact
In the early 2000s, the term “fast fashion” was coined in the fashion industry to characterize the rapid turnover of designs from the runway to current fashion trends. Retailers attempted to boost profits by focusing on key supply chain factors, with a focus on greater manufacturing speed at a cheap cost. With a quick reaction mentality, the concept has revolutionized the industry dynamic, resulting in enhanced prediction accuracy due to the shortened period and the ability to provide quick turnover of inventory for big retailers. Although fast fashion has been dubbed the “biggest disrupter in the retail industry today,” it has benefited consumers significantly, revolutionizing the market by emphasizing simplicity, convenience, accessibility, and affordability, as well as trying to have a beneficial impact on businesses. Zara is the undisputed fast fashion trendsetter when it comes to quickly introducing new outfits, new designs, and new concepts in its stores. Many in the fashion retail business have taken notice of their financial performance. Zara’s overall global sales in 2015 were $19.7 billion, beating out Gap, Primark, and Abercrombie & Fitch, as well as exceeding their 2014 sales by 8%.
The Future of Fast Fashion
Fast fashion is also known as disposable fashion because of the huge quantity of garbage it generates. Consumers are fast to discard products and move on to the next trend since they understand and accept the inferior quality of the apparel in exchange for lower prices. Although this is nothing new in the fashion industry, as there have always been trends that result in a significant surplus, the amount of pollution produced by fast fashion has escalated at an alarming rate. So, how long can fast fashion be potentially sustained? H&M, for example, is focusing on the long term and looking for ways to lessen its environmental impact. Despite being one of the major contributors to the global flood of low-cost apparel, they frequently recycle the items in the areas where they were produced. The cloth is repurposed into blankets, insulation, carpet padding, and pillow filling, among other things.
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Conclusion
There was always going to be collateral damage in the fast fashion industry, which relies on a business model that fosters rapid mass production. There are some signs that fast fashion is declining, but as long as retailers enforce corporate social and environmental programs and consumer demand remains high, quick fashion will remain a feasible business venture for the foreseeable future. You can click Lifestyle Blog to get more information.
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