Over the past decade, Fast Fashion has revolutionized the apparel industry. A model where mass-production meets speed-to-market, Fast Fashion offers consumers an opportunity to purchase trendy knock-off garments at a fraction of the price of designer apparel. A boon to consumers who are looking to keep up with fast-moving trends without breaking their banks, the US Fast Fashion market was valued at $41.5B in 2023, and is expected to reach $59.85B by 2030 (Coherent Market Insights, 2024)
However, the rise of Fast Fashion has generated quite a bit of debate in recent years. Critics argue it’s an industry made profitable through questionable production ethics, and they worry about the environmental impact around an increasing volume of petroleum-based (e.g. polyester) “disposable” garments. Meanwhile, proponents say Fast Fashion meets a viable consumer need for affordable apparel in the midst of an economic environment that has magnified income bifurcation. As the debate continues, these issues and others have been hotly contested with both positives and negatives on each side.
Zara, a multinational clothing brand and retailer with 3,000 stores in 90 countries.
While Zara currently employs the Fast Fashion model as part of their go-to-market strategy, the company has recently installed new leadership. With this change, Zara has asked you to research and evaluate the Fast Fashion model, and to ultimately advise on whether they should change their strategy, or stay the course.
Zara has approached your team for help with the following tasks:
Create a list of concept terms based on your task. Use synonyms to capture more information. Combine multiple concepts to create the perfect search.
"fashion industry" AND (campaigns or PSA or “public service announcement”)
