What is the Economic Impact of Fast Fashion? - Economics Research Question

Authors

  • Vidit Goel  International School of Gabon Ruban Vert in Libreville, Gabon, Africa
  • Michael Michaelides  Professor, Allegheny College, Meadville, Pennsylvania, USA

Keywords:

Fast Fashion, Trendy Clothing, Smart Forecasting, Ecommerce

Abstract

'Fast Fashion' is a term used to define the sub-section of the clothing industry that produces cheap, low-quality, and trendy clothing (often, they are replicas of high-fashion items) in a very short amount of time, catering to the wants of the customer at the point of highest demand at a very low price. To quantify the increase in clothing purchases, in 1980, an average American bought 12 items of clothing annually, but today, the number is up to 68. This relatively new concept is taking the industry by storm financially with extraordinary growth rates. It is also impacting the environment negatively with a high and irresponsible consumption of natural resources in the economy. The labor conditions in the fashion world are also worsening with the need for faster production cycles stressing underpaid labor in developing countries. This paper discusses fast fashion, its origins, and the serious economic effect it is having today.

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International Journal of Scientific Research in Science and Technology

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Published

2022-10-30

Issue

Volume 9, Issue 5, September-October-2022

Section

Research Articles

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This work is licensed under a Creative Commons Attribution 4.0 International License.

How to Cite

[1]
Vidit Goel, Michael Michaelides "What is the Economic Impact of Fast Fashion? - Economics Research Question" International Journal of Scientific Research in Science and Technology(IJSRST), Online ISSN : 2395-602X, Print ISSN : 2395-6011,Volume 9, Issue 5, pp.571-581, September-October-2022.