Fast Fashion Faces Steep Declines In The Next Decade Or Sooner, UBS Warns
Apr 14, 2021
As more consumers become aware of the environmental and human costs of apparel production, fewer will opt for fast fashion, widely seen as the most problematic sector in the industry, according to a report Monday from investment firm UBS. Fast-fashion retailers could face revenue declines of 10% to 30% over the next five to 10 years, the analysts said in an emailed report. “The compounding effect of consumers buying fewer items but also shifting the purchases they do continue to make to items that they perceive to be more sustainable could be severe,” UBS Analyst Victoria Kalb’s team wrote. Read more at Retail Dive.