Misato NotoFor the fashion industry, rebuilding a more sustainable business framework will be the key to success after emerging from the COVID-19 pandemic.
The global recession caused a sharp drop in both consumer demand and production. As a result, manufacturers in south and south-east Asian countries have been facing sudden cancellations of orders. This situation, therefore, left many workers jobless or furloughed without pay. To cope with unforeseen risks, brands must now shift towards more sustainable business models and supply chain management.
Simultaneously, surveys show a strong demand from consumers towards more sustainable company policies and products. McKinsey & Company’s 2020 survey conducted across Europe suggests that 67% of the respondents favored fashion items made with sustainable materials. Moreover, 63% considered a brand’s promotion of sustainability favorably. Even in the U.S., researchers also predict that Generation Z consumers will be one of the main drivers for sustainable products as their buying power grows.
