AnnOpinium’s dé Gilmartin explores the rise and fall of fast fashion amid the cost of living crisis and what some brands are doing to bounce back.
Englishman, Like the rest of the world, the cost of living is feeling the pinch as inflation, the war in Ukraine and rising energy costs continue to weigh on the country.
we have seen the most intense effectsA crisis about the cost of essentials such as food and fuel. Another sector that has seen rapid change is the fashion industry, with two clothing brandsYear-on-year decrease in sales, and By month 11% decrease from July to August.
A quarter of Britons spend less on new clothesand accessories, this foreseeable future doesn’t look good fashion retailer.
not so fast fashion?
We’ve seen all the fast fashion giants like H&M, Asos and New Look Their ranking dropped to Opinium’s index of the most connected brands, and most dropped out of the top 100. His luxury brand, Gucci, has fallen nine places, just outside the top 100.
Perhaps unsurprisingly, budget fashion brands are making a comeback. L.Low-cost fashion retailer Primark climbed 10 spots last year. This brand has been busy. We launched a new online shop (previously operated only in physical stores). We teamed up with high street bakery chain Greggs to create an unlikely but viral fashion collection.and that saw 59% increase in sales first half of fiscal year.
Similarly, Asda’s internal Clothing brand George climbed ten places in the rankings. The low-cost brand hit its game last year with a change in management and a collaboration with Netflix on its fashion and lifestyle range with a comprehensive ad that included a woman with stretch marks modeling a range of lingerie. invested in strengthening the
debtAshion and home goods retailer Matalan climbed 14 places last year. The brand is undergoing its digital transformation, modernizing its online store and relaunching its customer rewards program under the new name ‘Matalan Me’. The brand has even gone so far as to directly help customers ease the financial burden of the crisis, launching a contest to cover one winner’s utility bills for a year.
Sustainability point
one The brand, while not the most wallet-friendly, has skyrocketed in the rankings. His heritage denim brand, Levi’s, recorded the highest rank increase of all fashion brands in the index, and he climbed a whopping 21 places. The brand’s strategy this year was to focus on the durability and sustainability of its products rather than promising low prices.
The brand celebrated its blueprint Original 501s’ 150 jeansth anniversary this year.Released a reinterpretation of the model Through a star-studded campaign featuring Marcus Rashford, Naomi Osaka, Hailey Bieber, Jaden Smith, Kid Cudi and more.
There’s something different about this 501 reissue: Jeans are completely recycled. Every pair is made from a pair of liquefied old Levi’s as the company focuses on its sustainability strategy.
The brand has also partnered with the British Council’s Architectural Design and Fashion Programme, which aims to address global challenges using innovative design. And recently, “When things are built to last, we can all waste less. Buy better. Wear longer.”
Low cost and long life
T.The cost of living crisis is rapidly changing what goes into people’s shopping baskets. Food and fuel are top priorities, so clothes are an afterthought.
To weather or avoid a sharp drop in sales, brands must shift their strategies. Convince shoppers of longevity like Levi’s or ease the financial burden like Primark, George, Matalan and more. In any case, change is not only coming, it is already coming.
