Fast fashion is a feminist issue – In fast fashion, 80% of the people making our clothing are young women, ages 18 to 24, most of whom earn less than $3 a day, according to the nonprofit group Remake. – Teen Vogue & Slow Factory
Nearly half (48%) of U.S. consumers say they would definitely or probably change their consumption habits to reduce their impact on the environment. And these consumers are putting their dollars where their values are, spending $128.5 billion on sustainable fast-moving consumer goods (FMCG) products this year*. Since 2014, these influential shoppers have grown sustainable product sales by nearly 20%, with a compound average growth rate (CAGR) that’s four times larger than conventional products (3.5% vs. -1.0%** comparatively). By 2021, we expect these sustainably-minded shoppers to spend up to $150 billion on sustainable FMCG goods, an increase of $14 billion – $22 billion. – Nielsen (graphs)
Only 26% of millennials and 12% of baby boomers are willing to pay more for sustainable products, according to the 2019 McKinsey New Age of the Consumer U.S. Survey. – Fashionista (links to studies)
More related articles: Fashion’s New Sustainability Play: More brands Are Turning To Made-To-Order Production, Agility in Fashion Is the New Black, 11 Brands to Shop in Support of International Women’s Day 2020
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