Thursday, December 19, 2019

Sustainability Report in Fashion Retail 2019 by NOSTO-we tick the boxes

Sustainability. What does this mean, really?

The common definition of sustainability is to maintain something at a certain level. 

As defined by the fashion industry, maybe the definition is just now coming to light, even though the C-Suite has been using it as a buzzword for years.

The report attached here, "Sustainability Report in Fashion Retail 2019 by NOSTO" surveyed 2000 consumers to find out what they think Sustainability is and how it would affect their retail purchases.  In doing so, it clearly defines some main themes that are important to consumers. But-

How important is sustainability to consumers nowadays? From the report:

"50% of consumers who desire sustainable
fashion would be more likely to buy clothes from companies they know
are committed to sustainability, while 28% of them would stop buying
clothes from a company if they find out it is not committed to the cause."

This article is important for BOTH consumers and brands.

  • Consumers should read and recognize what coincides with their attitudes toward purchasing and, most important, will they follow this direction? 
  • Brands should use the report as a self-check (assuming that sustainability is a key part of their business mission) to make sure that they are doing what they can to fulfill customers' expectations (and their own).
Some key takeaways from this report and how we stack up:

1. 57% try to keep clothes longer because it’s better for the environment. We make our shirts, ties and pocket squares out of natural materials of high quality that won't need to be trashed anytime soon.
2. 46% say they prefer to buy clothes that are made sustainability rather than buying them just because they’re from a well-known brand. Good for us and our future, because this is US.
3. Consumer Expectations re: Sustainability:

   Reduce the amount of packaging (75%)
• Provide fair pay and good working conditions (74%)
• Use renewable and recyclable materials (73%)
• Make clothes that are designed to last longer (71%)
• Use fewer resources — e.g power, water, materials (64%)
• Focus on innovation to come up with new environmentallyfriendly
materials and methods for making clothes (61%)
• Create initiatives to help people resell or recycle their
old clothes (59%)
• Make clothes in classic styles that will stay in fashion longer
(to encourage people to keep them longer (49%)

We have described all of the above on our website. And we tick all the above boxes except the second to last, which we haven't started yet because we're new. But we will.

Our business was built with this goal in mind and is mission-critical to us. 

How about your favorite brand? What are they doing NOW about sustainability (not what are they saying). Please do check and let us know!

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