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UBS Research Highlights Trends Fueling Fast Fashion Fires Threatening the Future of this Unsustainable Model

We recently suggested that the Fast Fashion trend should come to an end sooner rather than later, especially in today’s more sustainability-conscious environment and increased focus on solving climate change issues around the globe. In this article, we share insights from recent UBS and other research supporting this position and suggesting what happens if consumers cut back on fast fashion.

Monday, May 24, 2021

According to a recent article in the Sourcing Journal (subscription required), “Fast fashion’s quick-turn model designs obsolescence right in. The relentless parade of new product means today’s trend is tomorrow’s markdown, creating ample fodder for landfills and incinerators.”

UBS analysts tagged the throw-away fashion sector at a value of $2.5 trillion as of 2017—3% of the world’s GDP. They called for fast fashion firms to “holistically redesign their businesses” or face a 10–30% decline in sales over the next five to 10 years.

The fashion industry as a whole took a hit during the pandemic for a multitude of reasons, and one of the end results was a significant overstock condition, for both luxury and fast fashion brands. This, according to an April 29 article in Fortune, reprinted in SPESA’s Behind the Seams newsletter, is not new, but is a topic that no one really wanted to talk about before. Although, as the article points out and as has been cited in many industry events and publications, in 2018, H&M revealed it had $4.3 billion worth of unsold clothes in that year. I’m sure they were not alone.


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About Cary Sherburne

Cary Sherburne is a well-known author, journalist and marketing consultant whose practice is focused on marketing communications strategies for the printing and publishing industries.

Cary Sherburne is available for speaking engagements and consulting projects. To get more information contact us.

Please offer your feedback to Cary. She can be reached at [email protected].

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