The world of fast fashion is destructive---it has significant and irreversible consequences on our ecosystems and environment. While fast fashion may not get extinct very soon, consumers today are placing a strong emphasis on sustainability and eco-friendly clothing. As a result of this shift in consumer behaviour, many brands have started to evolve and adapt to sustainability.
Sustainability is here to stay--a fact which has got well established with many apparel brands pledging to go sustainable and maintaining sustainability as their brands USP. The pandemic-induced lockdown has only served to underline this point and brought more focus on sustainability. In addition, Gen Zers are leading the change with regards to this. Often, they come up with new demands--some of which can be the need for an end-to-end sustainable brand.
As the global economy gradually recovers from the effects of the pandemic, latest consumer research on retail fashion companies makes it apparent that the new normal is all about reducing negative environmental impact and reducing the carbon footprint. According to a recent study, the vast majority of Gen Z shoppers prefer to buy from sustainable companies and are willing to spend 10 per cent more on sustainable products. The same study says that Generation Z and millennials are the most inclined to make purchasing decisions based on their moral values and principles.
The fashion industry is all about brand loyalty, commitment, and constant demand for new trends and styles. And, rightly enough, brand love and loyalty will be heavily dependent on a company's capacity to enable or establish long-term relationships with its customers in the future. So, there is enough reason to rejoice and be optimistic. Fashion retailers are now focusing on new green lines that can be reached by adopting the circularity idea, that ensures that resources and products are used for as long as possible before they are disposed of and regenerated into new products.
By and large, almost every company has started to announce their commitment to sustainability. But while committing to the concept is good, it is also important to create a niche of ones own brand. Interestingly, a survey conducted by Vogue this year highlighted the significance of brand loyalty in long-term decision making by customers. Most respondents wanted their favourite brands to become more sustainable, since they would rather buy from their favourite brands, also brands they are familiar with rather than switch to alternative sustainable brands. This has given opportunity to established brands to indeed make long-term investments towards sustainability. It also allows brands to experiment with the concept, even if their efforts are not always successful; customers are more likely to stay loyal to brands that make efforts to listen to their needs.
More and more brands across the globe and especially in India are gradually making their way into sustainability. Achieving complete sustainability might still be a far-fetched dream, but it is great to see that major brands are recognising the root cause of environmental pollution and jumping into the bandwagon to achieve the common goal of sustainability.
About the author: Charath Ram Narasimhan is the MD & CEO of Indian Terrain Fashions.
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