Given the current challenging economy, it is essential that companies are in alignment with sustainability trends as they evolve, and understand the direct impact on business performance to remain competitive. Consumers still want to positively impact the environment, and expect companies to play their part in democratizing sustainability especially this spring. Here are a few of the fashion trends we will be seeing during the next few months!
- Affordable sustainability
Despite goods and services prices increasing globally, consumer sustainability awareness remains strong, with two thirds of global consumers worried about climate change, and also willing to play their part to positively impact the environment. More and more fashion and accessories brands are spreading and becoming popular in many countries. Sustainability has always been seen as something only a certain group of people can afford but nowadays it is becoming more approachable and affordable.Brands like Pact, For Days, Kotn have a great selection of clothes perfect for spring and summer!
- Closing the Loop on the Circular Economy
Another key 2023 trend is circular fashion, as we move into 2023, new regulations are being implemented throughout Europe to reduce plastic waste, increase recycling and reuse, and overall improve circularity and waste efforts. We’re also seeing more retailers like Levi’s, Lululemon, and North Face working to reduce waste, utilize recyclable and recycled materials, and incentivize their customers to participate in circularity.
As recycling technology, re-use options, and reusable packing options continue to improve, we hope to see more companies include circularity as a key operational sustainability initiative!
- Luxury developing sustainable supply chains
What we were starting to see in 2022 and are now seeing more of in 2023 is luxury industries accelerating innovation towards greater sustainability by working on their Scope 3 emissions. The luxury fashion industry are finding new ways to reduce their impacts while increasing sustainability across their supply chains here are a few examples:
- Sustainable sources that gives back to nature: Partnering with suppliers using regenerative farming practices
- Materials: using regenerative, organic and recycled materials
- Green financing: suppliers and companies are utilizing green financing to achieve their ESG objectives
- Reshaping the future: innovation and creativity drive sustainability offering many solutions to luxury supply chains
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