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The news follows rumblings last week that the retailer was struggling to maintain its sprawling brick-and-mortar presence amid increased competition in the fastfashion sector. During her tenure she made a concerted effort to refresh the brand with a focus on younger consumers and enhanced omnichannel capabilities. In the U.S.,
High-profile brands like Dion Lee and Mosaic Brands closed their doors, and IMGs departure from Australian Fashion Week disrupted the sector. Rising operational costs, increased global competition, and shifting consumer behaviours are among the contributing factors. Supports sustainability by reducing freight and consumables.
.” Partly funded by Zara-owner Inditex, Moda Re will expand sites in Barcelona, Bilbao, and Valencia, in some of the first signs of a planned ramp-up in garment sorting, processing, and recycling capacity in response to a barrage of new European Union proposals to curb the fashion industry.
Underlying impacts The partnership between Reliance Retail and Shein represents a significant shift in India’s fashion landscape, with several key implications for both businesses and consumers. The company estimates the fastfashion segment to reach $50 billion by FY31.
Between the tariff tug-of-war, flailing markets, insanely high egg prices and general twitchiness (as one strategist put it), consumers have gotten a bit hard to nail down lately. Here’s what some of the leading minds in retail say consumers need now. One thing is clear its not AI.
With the marketplace model now driving Debenhams’ growth, Boohoo hopes this fresh approach can turn around not just Debenhams, but its other brands, including the host of struggling fastfashion brands which once were the group’s driving force Boohoo, PrettyLittleThing, and Boohoo Man.
However, after several years of diminishing sales in an increasingly competitive fast-fashion market, rumors have been spreading about Forever 21 declaring Chapter 11 bankruptcy for the second time. As Global Datas managing director Neil Saunders explained, Forever 21 has been battered by the rise of Shein and to a certain extent Temu.
Here, we speak with #6, Babyboo co-owner and managing director Will Conditsis, about balancing rapid growth and profitability and repositioning the brand from ‘fast-fashion’ to ‘premium’ He also shares the top profession al skill he would still like to develop.
Recently, however, something new has begun to drive massive growth in the used goods sector — consumers who are shopping based on their values , in addition to searching for value. It is this facet of the modern economy that consumers have begun to reject. The Fastest-Growing Channel in Retail’. “ The Cool Factor.
Last November, international fashion resale platform Vestiare Collective shocked the apparel industry by banning the trade of ‘fast-fashion’ labels. Wone, who joined Vestiaire Collective in March 2020, said the ban underlines Vestiaire Collective’s founding mission – to drive collective change towards a circular fashion economy.
Focus and blame generally turn to the manufacturing, production and distribution parts of the chain, but other aspects are not usually at the forefront of the mind, especially when it comes to the consumer standpoint. In recent decades, fastfashion became incredibly popular due to its cost efficiency, both for manufacturers and consumers.
A new study demonstrates how AI can revolutionise fastfashion by improving supply chain efficiencies and in turn reducing the industry’s carbon footprint. The fastfashion industry is valued at US$2.5 trillion and employs some 75 million people, however, its economic impact is underscored by its environmental pollution.
She noted that while reverse logistics in particular is very complex, Goodwill has developed and perfected the infrastructure to help manage that, while offering alternative paths to circularity. Were increasingly over-consuming, largely due to fastfashion, so we need solutions for textiles, Kobe noted.
Australian consumers are becoming more conscious of the social, environmental, and economic implications of their purchasing choices. A recent report by Baptist World Aid, based on responses from over 2000 Australians surveyed by research firm McCrindle in September, revealed an increased awareness of the impact of consumer choices.
AI also is good for improving the predictability level of inventory management. The ease of doing that, and removing that human part, creates a whole different level of inventory management. RTP: Taking a longer view of AI, what do you think will be some of its biggest impacts between now and the end of this decade?
Fast-fashion giant H&M recently unveiled the autumn/winter 2024 collection from its atelier spinoff H&M Studio. The limited-edition fashion drop signals the brand is “returning to its roots and reconnecting with its community through a global ‘re-ignition’,” H&M’s head of design Eliana Masgalo told Vogue Scandinavia.
There are signs of a disconnect between consumers and retailers when it comes to sustainability. A recent report has found that two-thirds of consumers are willing to pay more for sustainable products than retailers expect — and reveals that consumer preference for recommerce models is also being underserved. A Starting Point.
billion as it looks to extend its reach both in the apparel sector and with Gen Z consumers. Depop’s peer-to-peer marketplace for secondhand fashion is the 10 th -most-visited shopping site among Gen Z consumers in the U.S., The site is primarily known for its vintage, streetwear and Y2K (late 1990s/early 2000s) fashion. .
To what extent can fastfashion brands make inroads in their sustainable practices and reduce their textile waste without fundamentally changing their business and operating model? This further fuel[s] their hyper-fastfashion model.” As a result, the garments are often not durable, and end up in landfill.
This has significant implications for the retail and consumer packaged goods (CPG) industry across the product value chain. The pandemic has fundamentally reshaped the relationship consumers have with sustainability, from shopping and investing to employer preferences. Failure to act can significantly impact a company’s bottom line.
Once regarded as a have to for those on tight budgets, purchasing pre-loved items has now evolved into a mainstream retail trend, fuelled by a combination of psychological drivers and shifting consumer values. As a result, consumers are turning and looking to second-hand shopping as a more sustainable alternative to fastfashion.
After all, studies show that consumers care more about the environmental impact of their purchasing decisions than ever before. RFID Technology and Sustainability RFID technology is the key for retail businesses to unlock greater sustainability and efficiency in their supply chain management.
Shein uses user data insights to predict what products customers will want in the future, effectively taking fastfashion to the next level. million products to its catalog daily, compared to 35,000 products a year for the fastfashion retailer Zara.
Fastfashion has normalised using garments for short periods of time, and throwing them away when trends change, driving an unsustainable pattern of overproduction and overconsumption. It envisions that fastfashion will be out of fashion, and that economically profitable re-use and repair services will be widely available.
Amid the rise of fastfashion and social media platforms accelerating consumptive behaviour, it appears that many Australians aren’t wearing or re-wearing the clothes they purchase. This was highlighted by the Fashion Resale Report from online retailer Reluv and Monash University. Consumer behaviours will also inevitably change.
She previously served as CMO of The RealReal from 2012 to 2019 and owned Anica Boutique , a fashion and home store. Julian has served as CFO since 2021 and has over 30 years of financial management experience in both public and private companies. The RealReal has struggled to reach profitability despite strong sales growth.
With exciting overseas holidays and drinking and dining off the cards in the past year, some consumers are now indulging in other ways and spending their money on discretionary categories such as fine jewellery, which has seen a rise in sales during Covid. The company saw a 29 per cent increase year on year to €714.3 told Inside Retail.
TJX later acquired the company and then sold it to venture capital firms Crystal Capital and Versa Capital Management. Increased Competition Over the past few years, small- and medium-sized fashion and footwear retailers have faced intense competition from all sides. So, what happened? It requires time and investment.
Here, we chat with Airrobe’s new global head of partnerships and general manager Beth Glancey about how the business is making it easy for retailers to get involved in circular fashion and the biggest sustainability challenges for retailers in the industry right now. Inside Retail : Can you tell me about what Airrobe offers consumers?
Asos recently launched its first ever rental edit with UK-based rental marketplace, Hirestreet, as the struggling online fashion retailer attempts to stem its losses amid a decrease in consumer spending. An important move As a way to attract more cost-conscious consumers, Asos’ deal with Hirestreet makes a lot of sense.
Do consumers really care? Despite the fact that surveys are regularly wheeled out purporting to show that sustainability is important to consumers in the purchasing decision, the purchasing behaviour itself seems to contradict that. Lululemon is pumping out strong revenue growth, particularly internationally.
Get ready, get excited, retailers and customers alike, the 2D barcode, a compact square label with splotches and spaces that encode up to 350X more data than a traditional UPC (4,000 characters) will have a significant impact on managing the business and delivering better customer experiences. Who doesn’t want that?
Higher-income consumers are less impacted by inflation and, while aware of higher food, home and transportation costs, still have the funds to drive luxury sales and luxury growth,” said Marie Driscoll, Managing Director, Luxury and Retail at Coresight Research in an interview with Retail TouchPoints.
A few years ago, buying resale online was still something that had to be sold to consumers. But as ThredUp ’s 12th annual Resale Report shows, the need for a hard sell is over — consumers of all ages have clearly bought into the idea, with secondhand apparel sales growing 15X faster than the broader retail clothing sector in 2023.
The main lesson here for other designer fashion businesses is the importance of adapting, innovating, and financially managing for resilience in a competitive global market,” Iacono concluded.
The annual Melbourne Fashion Week (MFW), hosted by The City Of Melbourne, is back and celebrating its 30th anniversary. “It It is quite the milestone, it does mean we’ve officially taken the designer crown of being the longest-running consumerfashion event in Australia,” Matthew Flinn, MFW senior manager, told Inside Retail.
Consumers hold firm expectations that environmental sustainability and social responsibility should be at the forefront of everything from executive strategy, to day-to-day operations. This is set to become even more important as Gen Z becomes the dominant consumer audience. Here’s a snapshot of this discussion.
Compared with ten years ago, when I was on the retail side as a store manager, the amount of customisations that girls want, and the amount of changes on a dress, have increased because now everyone is ‘special’,” White explained. The ‘see it now, buy it now’ mentality has also changed the landscape. It has it all.”
“From a customer perspective, resale is driven by a wish to get one’s hands on desirable fashion items at a lower price as well as experiencing the fun of treasure hunting for something unique,” Anna Forster, sustainability strategist and co-founder of The Purpose Agents, told Inside Retail. “At ” How Nike Refurbished works.
She believes that the inefficiencies that have existed such as a lack of representation, poor fit and high returns have been amplified by the shift to online shopping which was accelerated by Covid, fastfashion and an increasingly global world. Neill thinks generative AI will allow personalisation to move from personas to persons.
The Chinese fastfashion giant may be one of the most downloaded fashion apps around the world, but it continues to maintain a low corporate profile. Ask any consumer to name a fastfashion retailer and they probably think of H&M, Zara or Gap. Fastfashion, but slow deliveries.
It’s about setting that standard, and then going above and beyond to be able to offer consumers new things.” A new type of fastfashion Speed of service and convenience have been battlegrounds that businesses across the retail industry have long fought, and is a large part of what customers expect. “I
per cent increase in the number of consumers that purchased from brands powered by Shopify, with Australians ranking fourth globally in total spend. While Chadstone was not yet ready to provide data, its centre manager Daniel Boyle told Inside Retail that Black Friday has continued to increase in popularity and productivity over the years.
As consumers worldwide are becoming more aware of the waste produced through the fashion industry – both in production and through fast-fashion being worn only a few times before it is discarded – sustainability is becoming more of a concern to major brands. “Better for people equals better for planet”.
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