The pace of change occurring at retail is having a profound effect on the entire textile supply chain. From the impact of the trade war with China (and the subsequent shift to other countries such as Vietnam) to the explosive growth of the rental and resale market (on track to swell to more than $50 billion in the next year or so), fashion apparel is in a state of upheaval.
Changes in consumer behavior are also driving significant change in the retail apparel market. Millennials and Generation Z, for example, are embracing consumer practices that support combating climate change. Gen Zs are emboldened by youth climate activists such as 16-year-old Greta Thunberg, who gained a global spotlight earlier this year while addressing the World Economic Forum.
“I want you to feel the fear I feel every day,” Thunberg told attendees at the forum. “And then I want you to act. I want you to act as you would in a crisis. I want you to act as if our house is on fire.”
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Younger consumers are also inspired by their own purchasing power, and the decisions they make to create a more sustainable world. It’s one of the reasons that’s