Read our full analysis for a more in-depth look at these trends.
Sustainable fashion: Secondhand chic
10% of global emissions are from the fashion industry. Sustainable fashion is making important contributions to reduce its impact.
- The fashion industry contributes 10% of global emissions and a fifth of plastic waste. Increasingly, consumers are looking for ways to make sustainable choices to lessen the environmental impact of their buying decisions.
- But inflation remains a headwind for many consumers, and the price premium they are prepared to pay for new, sustainable fashion is limited. Even among Millennials and Gen Z, only 4% of survey respondents were prepared to pay a 20% premium.
- The good news is that a significant reduction in the environmental footprint of clothing can be made by extending its lifespan. And the secondhand market for fashion in the U.S. is growing rapidly, increasing by 24% year-over-year (YoY) in 2022.
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