Fashion Circularity Weekly Roundup
Keeping you updated on Resale, Retail & Sustainability with a weekly article best-of from November 16th to November 22nd.
The week in articles
1. The Lockdown Effect — UK edition 😷
The circular economy is growing in the UK. The lockdown had a positive effect on accelerating certain consumer habits. Sustainable habits ranked high.
The UK is on the spotlight this week. Acceleration is happening fast and more services are becoming widely available. The UK consumer is adopting this services and helping to save the planet.
“The pandemic has forced people to take a look at their day-to-day: what’s important, what isn’t, what’s just fluff. A lot of people are gaining a greater perspective into what it is that brings them joy,” she adds. “They have been forced to slow down, to sit in a room with themselves, and look at how they live their lives. With this natural reflection has come a shift in importance for how they are behaving and the impact that is having on the planet.”
2. How much is your closet worth? 🤑
What do you have in your closet? Where can you sell it? What factors make your item worth more?
“Think of most items in your closet like a car. The more you use them, the lesser the value, but it’s not like you’re simply losing money. Usage should be thought of as added value for the wearer, which evens the scales a bit.”
Coveteur gives you a 101 guide to Fashion Resale, for you to get into the game!
https://coveteur.com/2020/11/18/fashion-resale-value/
3. Secondhand saving the industry 🦸🏽♀️
Yep, another one…
Fast fashion is expected to grow 20% in the next 10 years. Secondhand fashion is expected to grow 185%.
The business economics are more than there. But what will be the impact to the environment?
4. Fashion needs a change. But let’s do the same on Black Friday? 🥵
Well well… Black Friday we meet again. Black Friday is the ultimate calendar date of excess consumption.
A day marked to show you that prices could generally be lower, and to make you want more things you probably wouldn’t need.
As made famous by the movie Fight Club, on Black Friday “We buy things we don’t need with money we don’t have to impress people we don’t like.” .
But will there be a change towards a greener future?
Allbirds says yes, let’s do a change. Allbirds decided to change the narrative and actually raise the prices on Black Friday. Bold? Damn yes!
5. Vintage menswear is booming📈
Secondhand posh cousin, Vintage. Vintage is about uniqueness, authenticity, and cool hunting.
Menswear is the land where vintage can have a narrative of just plain cool. Vintage watches, trousers, shirts. It goes out of the fashion space and into the collectible space.
I’d say play a close look to the space, cause it will grow!
“With vintage, it’s not just about affording it, it’s about the hunt. Vintage has become the kind of ultimate luxury because, if you get it, you’re the only one to have that piece.”
https://robbreport.com/style/fashion/vintage-menswear-market-booming-1234576242/
Thought of the week
We’re preparing ourselves for another Black Friday and Cyber Monday. This time in the midst of a pandemic. One thing is for sure, shopping will be online and the supply chains will boom (if not burst).
Can Black Friday ever be sustainable? Short answer: Not really.
Nevertheless, a new movement is trending and this movement will not gain much traction this year, but hey…everything starts with an idea.
We will see more sustainable efforts on this Black Friday! Allbirds will raise prices, Patagonia will sit out, and Ikea is doing initiatives focused on buyback and repairing.
Time to change the narrative.
“On one of the biggest shopping days of the year, we want to change the conversation from mass consumption to mass circularity and show how sustainable living can be easy and affordable for everyone,” said Melissa Barbosa, Head of Sustainability, IKEA Canada.
This is a start of a movement, and where we will see if in the end profit is or not the prophet.
“Black Friday deals may satiate momentary desire, but their impact on the planet is a lot more long-lasting,” said the company in a release. “That’s why Allbirds wanted to do things a bit differently this year, flipping tradition and doubling down on our commitment to sustainability.”
This is it for this week! Stay tuned for the week ahead 😎
GG
