Fast fashion: growing, but how do you focus on sustainability?

In Italy inflation is 8.4% and bills and expenses are increasing rapidly. So the switch to buying products that are more affordable in their price could also happen in the coming fall-winter season.

According to our latest analysis, rising consumer prices are the top concern for 53% of European consumers. Sales of the traditional fast fashion segment have grown by more than 20% in the past three years, but new online players are also gaining ground. However, over the next 18-24 months, the entire fashion industry will face a complex scenario. More and more consumers are likely to decide to spend more of their purchasing power on versatile, more valuable garments.

Gemma D’Auria, senior partner of McKinsey

Today the fast fashion international is worth just under $100 billion worldwide and should reach $133 billion by 2026. Despite the war in Ukraine and post-Covid, 2022 was a year of recovery. The fast fashion data actually speaks positively.

The only weight that the growth of fast fashion stops, is the durability. This sector is not sustainable in itself. Gemma D’Auria, senior partner at McKinsey continues:

A profound change is taking place, both in consumers’ approach to sustainability and in the needs of brands. Therefore, it will become increasingly important for industry players to continue to propose innovative business models, using detailed information about their customers as a source of differentiation. A major opportunity is presented by textile recycling, which, according to our baseline estimates, could lead to a reduction in emissions of approximately 4 million tonnes. About 70% of textile waste can be recycled from fiber to fiber.

It must be said that the big fast fashion brands have started a sustainable transformation with recycled materials. At the end of 2021, H&M launched a Circulator tool. In 2025 it may be possible to convert all production to circular economy. Zara is committed to purchasing 30% of the production volume of the Infinna fiber for a future investment of 100 million euros. Then Mango wants to achieve 100% clothing that contains at least 30% more sustainable fibers and/or with greener processes.