One Chart Shows How Fast Fashion Is Reshaping The Global Apparel Industry
To get a sense of the immense pressure that fast fashion has put on the global apparel and footwear industry, all you need to do is look at this chart. It shows average year-over-year sales growth for a group of fast-fashion leaders, including H&M, Zara, Primark, and Forever 21, compared to the rest of the apparel industry. The data comes from a new report by research firm Euromonitor International, called appropriately enough “Fast Fashion in 2016: Industry Disruption and Geographic Dominance.” Fast fashion has far outpaced its competition for years, and according to Euromonitor, its appeal to consumers has already reshaped the apparel business. “The rapid developments of fast fashion and its infiltration across the world have led to permanent shifts in the global apparel and footwear industry, predominantly impacting pricing and sourcing strategies as traditional players try to maintain momentum in an increasingly competitive landscape,” the report states. Read more at Quartz.
