The Fast Retail Industry: An Analysis Of The Fast Fashion Industry

The fast fashion industry can be described as the process whereby fashion designs and trends are moving quickly from the catwalk to retail stores. It is now the norm for huge fashion brands like Zara, and H&M to release more than one product in one single week and to make the move from catwalk to the market a quick and cheap one. This concept of fast fashion is not only beneficial to the customers but gives stores an advantage as the frequent new releases allows for customers to visit the stores more regularly.

The fast fashion industry allows for consumers to keep up with the latest trends, but instead of paying a lot of money for the product, the products are made available at a lower cost and along with the low cost comes low quality as

Because there are many retailers competing in the industry, it is crucial for the different brands to form strategies to form agreements with many different suppliers as well as develop promoting methods that will allow them to stand out from the rest. With brands releasing new trends each week, it is of great importance that these different retailers competing in the industry can compete in terms of price, quality and availability. Quick responsiveness is also an aspect that would put retailers at an advantage as it avoids clearance sales and allows for retailer’s costs to stay low. It allows for catwalk trends to be quickly mimicked and on the shelves in a few days. The fast fashion industry is also largely characterized by high impulse buying where customers buy certain products not because they need it, but simply because they can or because they want to keep up with the latest trends. In order to maintain high profits in the industry, it is important that retailers adopt the ‘speed to the market’

For the fast fashion industry to make the shift to an industry that is environmentally friendly, consumers need to start by slowing down on consumption levels and make an informed decision to just buy less. Consumers can contribute to this shift by also only buying from retailers who are focused on producing quality, sustainable practices. It is the duty of the consumers along with the suppliers to drastically transform the industry for the