What is wrong ?
The Clothing (apparel) Industry is multibillion-dollar global enterprise devoted to the business of making and selling clothes. This industry encompasses the design, manufacturing, distribution, marketing, retailing, advertising, and promotion of all types of apparel (men’s, women’s, and children’s) from the most rarefied and expensive haute couture (literally, “high sewing”) and designer fashions to ordinary everyday clothing—from couture ball gowns to Juicy Couture-brand sweatpants.
Problem identified
However, the problem we have discovered is that price driven consumers (particularly in the apparel industry) lack the information necessary to make informed purchasing decisions founded in principles of ethics and sustainability.
As companies have come under the spotlight as wasteful, unethical and environmentally damaging, all players in the supply chain, from designers to retailers, have ramped up sustainability initiatives to tap into the budding ethical consumer market. In a testament to the direction for the fashion industry. According to the Copenhagen Fashion Summit, the fashion industry is one of the most damaging sectors in the world, with an estimated 87% of all clothing, accessories and associated items disposed of in landfills or incinerated annually, and fast-fashion trends often draw criticism from environmental groups.
According to research conducted by the French Institute of Fashion and other industry players, no less than 90% of fashion consumers feel that there is a lack of information on the environmental and humanitarian cost of the products they purchase. Also, French fashion consumers said they question health risks (40% of survey group), social issues (37%), and environmental issues ( 23%), and 20% of French consumers bought a responsible fashion product in 2018.
Why it Matters
- The service based economy no longer reflects the true cost of our goods
- Corporations are more concerned with profit than impact
- Lack of transparency causes confusion
Since more and more global consumers are willing to pay a premium for sustainable brands, this trend is only likely to intensify. Consequently, firms are gradually taking this into consideration. For instance, H&M in 2013 launched its fair living wage strategy to ensure all 930,000+ garment workers across its supply chain receive a wage sufficient to support a household during legal working hour limits, and Primark in the same year launched its own sustainability initiative to encourage the use of independent cotton farmers in India and Pakistan, helping to promote local economic development.
The Central Question
How do we convince consumers to take more than price into consideration while encouraging businesses to recognize that impact and profitability are not mutually exclusive?