Connect with us


Take a more sustainable approach to fast fashion




Bryan Turner, Partner at Spear Capital, explains how the TK Maxx of Africa is breathing new life into the European fast fashion industry

It is estimated that the global fashion industry is currently worth about 2tln. fast mode at large as cheap clothes produced by mass retailers that replicate runway and haute couture designs are an increasingly large part of that pie. As economies around the world recover from the effects of the pandemic (albeit unevenly), fast fashion is set to see growth in 20% overrun this year.

It is also a global phenomenon, Africa being no exception. In recent years, major fast-fashion retailers such as H&M, Zara and Mango have opened outlets on the continent. Overall, this presence was dominated by physical outlets. It’s not that surprising. Prior to COVID-19, e-commerce accounted for just 1.4% of South African retail trade in 2018. For the continent’s most mature economy, this is a particularly low figure.

But in the past two years, things have changed dramatically. E-commerce should represent 4% of retail sales in 2021 and reached 15% in some categories. This means there is a significant opportunity for retailers, especially those without physical stores.

The seasonal importance

This opportunity becomes even more obvious and attractive when you remember the seasonal differences between Europe and Southern African countries. This means that European retailers can make the most of that year’s winter or summer collections beyond their home markets.

Recognizing this opportunity, my track stocks some of the biggest retailers in Europe and the US and sells it to the South African market. While this has always been part of the plan, the impact of COVID-19 has undoubtedly accelerated the process. Support from SPEAR Capital, which recently increased its investment in MyRunway, has helped it accelerate even faster.

For European brands themselves, taking a priority approach online through a website like MyRunway also means they can explore new markets without investing heavily in infrastructure or a physical retail presence.

A more sustainable approach

Of course, when talking about fast fashion, it’s impossible not to mention environmental impact and sustainability. In recent years, some fast fashion players have come under fire for what are perceived to be unsustainable and environmentally unfriendly practices.

According to a study: The fashion industry is currently responsible for more annual carbon emissions than all international flights and shipping combined. It’s also true that millions of tons of clothes end up in landfill every year. Brands all over the world have recognized this as an issue and are embarking on all sorts of initiatives to improve their sustainability.

Taking an online approach of the type that brands use with MyRunway is a quick win on that front. By effectively giving brands extended seasons, they can sell more of their stock. Additionally, this approach allows them to build inventory and ship based on demand, rather than shipping large quantities of goods that may not sell.

Necessarily flexible

The last two years have also taught us the importance of flexibility. When global trade all but came to a standstill in 2020, many of the world’s biggest brands had to deal with what had the makings of a major crisis. A traditional location-based approach can make it incredibly difficult to survive such a crisis, especially in hard-hit geographies.

An online approach, via a site like MyRunway, is much less risky, especially for brands exploring new markets. After the last two years, this will only become more of an imperative.

Always evolving

Far more than most other industries, fashion isn’t afraid to embrace change and innovation. There’s no reason it can’t take that attitude when it comes to exploring new markets in a way that benefits both brands and the environment.




The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos


to request, modification Contact us at Here or [email protected]