Home / Knowledge / News / Fashion / Speed top priority for fast fashion retailers: Report
Speed top priority for fast fashion retailers: Report
06
Apr '17
Speed and agility are the top priorities for every retailer competing in fast fashion, according to a recent research. With one in eight younger consumers (18 to 24 year olds) shopping every week and buying a fashion item at least once a fortnight, retailers are gearing themselves up to meet growing demand for fast, on-trend, fashion-led styles.

With many younger consumers constantly searching for style inspiration on everything from social media to the high street, retailers are under increasing pressure to turn around new lines in record time. Many have been working hard to reduce their lead times to meet this growing demand for fast fashion. One leading fashion retailer is now delivering new lines in two to three weeks; yet speed is only part of the success equation, says the research conducted by Kurt Salmon, part of Accenture Strategy.

"Retailers need to accurately analyse what is selling in real-time and be in a position where they can react quickly. According to one major fashion retailer, there is now only a 24 to 36-hour window from browsing to buying. Retailers that actively engage with their customers, analyse shopping and social media habits, and pre-empt future trends, will be the winners in the fast fashion market," said Dan Murphy, managing director, Kurt Salmon, part of Accenture Strategy.

Speed of delivery of online orders is also highly important to consumers. The research highlights that one in five of 18 to 20 year olds want same day delivery, and a further 13 per cent want delivery in less than half a day. Those in the age group of 21 to 37 years are slightly more relaxed with almost a third happy for their orders to arrive the next day.

The study found that shoppers buy for the present, with 53 per cent of all consumers surveyed wearing items within a week of purchase, and 15 per cent wearing items the very same day. For younger consumers (18 to 24 year olds), the numbers increase; 60 per cent wear items within a week of purchase, and one in five wear items on the same day of purchase.

While the majority of younger shoppers claim that ethical sustainability is a key factor informing their purchasing decisions, their behaviour suggests otherwise; less than half (48 per cent) of 18 to 24 year olds recycle their clothes. Additionally, half (50 per cent) of retailers surveyed say they are actively exploring new ways to extend the product lifecycle, using recycled materials, or facilitating clothes swapping and sharing.

"The insatiable appetite for fast fashion will inevitably continue as these shoppers age. There is no reason to believe that younger consumers, who have grown up wedded to devices and social media, will expect anything less than instant gratification in years to come, and continue to possess the same sense of style and image," added Murphy. (KD)

Fibre2Fashion News Desk – India


Must ReadView All

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search