The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
Learn moreEuromonitor addresses your unique questions and challenges across all B2B and B2C industries and geographies through custom, tailor-made research projects, designed to your specific goals.
Learn moreJun 2018
US$1,325Added to Cart
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
Long seen as niche, ethical fashion is now at a turning point. While consumers increasingly claim to try to have a positive impact through their purchases, a growing number of companies embrace the concept and are also becoming aware of the need to preserve their reputation in the age of social media communication. This report analyses the opportunities and challenges ethical fashion presents for the industry, and how companies can leverage innovation, and technology to meet new market demands.
Files are delivered directly into your account within a few minutes of purchase.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Globally, over 60% consumers in the Euromonitor International Global Lifestyle Survey 2017 claimed to seek ways to have a positive impact through what they buy. But the majority of consumers still rank features such as style and value as the main factors in their fashion purchases. Fashion brands are therefore set to innovate to create more sustainable and fairer processes, leveraging technology to scale up sustainability.
With 17% of global value sales online, fashion is one of the most advanced industries in terms of e-commerce adoption. Moreover, social media and peer-to-peer reviews are now playing a crucial role in the shopping process. If this is providing a platform for brand story-telling, this also means greater exposure to potential reputational damage, which further fuels the need to transition to more ethical and sustainable practices.
As consumer preferences shift from ‘owning’ to ‘being’, the paradigms are shifting in terms of the way people consume fashion. Brands now seek to offer special experiences to consumers and build an emotional bond with them. Embracing causes in line with consumers’ values and ethical fashion is then perfectly apropos, all the more since alternative models in line with consumers’ ethical aspirations, such as resale and apparel rental platforms, put additional pressure on traditional fashion brands.
Ethical fashion is about striking a balance between personal expression through fashion, and respecting the people, skills and natural resources in the process. The concept is not new, but was niche for a long time. Recently it has gained momentum as brands no longer see it as a philanthropic quest, but a source of innovation and a commercial opportunity to build a brand with a purpose. Zero-waste, skill preservation and transparency are key causes on the ethical fashion agenda.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.