This blog post will explore consumer trends and will use graphics to create a visual representation of where the brands are within the sustainability field and understand how consumer trends can affect this both negatively and positively.
According to Mintel 2023, 25 percent of consumers are more environmental focused than they were in 2022. This shows that consumers are more likely to purchase goods that are labelled as environmentally friendly. It is shown that the pandemic did not start the sustainability revolution within Gen Z, but it has gone into hyperdrive (Petro, 2021) Smith (2022) there has been a sudden urge for consumers to become greener/only live a green lifestyle. It is reported that 79% of adults within the UK consider living an environmental-friendly life therefore this shows that these consumers would only purchase from companies which shared similar values/beliefs to them (Jeong and Di Rienzo, 2014). For businesses to showcase their new products which they are offering many businesses are conducting green marketing techniques on social media to showcase their new drive towards green consumption.
But what else are the trends?
UK consumers want to be reassured and told everything is going to be okay. This is shown as 45 percent of consumers want reassuring messaging from brands in 2023 with the expectation for this to grow in the next few years.
Consumers are shown to want to purchase goods from brands that they trust and one way a brand can do this is by interacting with their consumers regularly. However, this can be a dangerous game as 54% of consumers stated that they enjoyed being contacted by their favourite brands, however 46% of consumers said it was annoying and ‘creepy’ (Global Consumer Trends Index Report, 2024).
Many fashion brands try to reassure their consumers when it comes to sustainability as they feel as if this is the best way to target younger consumers. Eileen Fisher a fashion brand, reassures their sustainability by –
· Only using sustainable materials
· Using the ‘Renew’ programme, where consumers can return there used clothes for credit or get it repaired or professionally cleaned.
· They allow their consumers to trace the journey of their clothing items therefore, letting them see the supply chain and manufacturing process.
· Eileen Fisher plays a political role and stands up for women’s empowerment and ensures fair labour practices.
(Eileen Fisher Benefit Corporation Report, 2022)
So far, this company has not faced any greenwashing issues however, as consumers are now aware of greenwashing, they may be sketchy of Eileen Fishers environmental initiatives.
In 2021, DIOR was the most trusted brand within the average score of UK Consumers as consumers rated 4.4 out of 5 and ASOS was second with a score of 4.1. Therefore, showing that the companies high rating shows customers are buying items with ease and convenience of online fashion.
DISCLAIMER – THIS WAS IN 2021, BEFORE ASOS WAS INVESTIGATED FOR THEIR GREENWASHING CLAIMS.
Consumers want brands to be up-to-date on political issues.
Brits want brands to be political and keep up to date with issues around the world. 83.2 per cent of consumers want brands to represent a cause. This can range from poverty, inequality to climate change as (41.1% of surveyors wanted their favourite fashion brands to do more to combat climate change). Although, this was not a high as the 47.2 % of Gen Z.
Second hand shopping here to stay!
The second-hand market is now even more profitable than the luxury sector. This is due to many factors and is not restricted to the younger generation of shoppers (Halliday, 2024).
The stigma around purchasing second hand clothes has now disappeared else amongst the younger generations. Herjanto, ,Scheller-Sampson and Erickson (2019) state that the rise of technology and virtual apps such as Vinted have successfully made it easier for consumers to purchase pre-loved clothes.
Vinted (An online shop for selling second hand clothes) grew in popularity last year, this was shown as the company's market revenue has grown considerably within the last 5 years, therefore, showcasing the popularity of these websites (Fleck, 2023).
Revenue of Vinted from 2017 to 2022
(Fleck, 2023)
As this image shows, it is clear to see that since 2017, consumers have became more confident purchasing second-hand clothing items from online sources such as Vinted. Therefore, helping the environment and helping Vinted revenue to rise.
James Reinhart, the CEO of ThredUp states that the second hand market will be worth:
By this market growing, it will hopefully help the environmental issues that are associated with making clothes and will help business green market their products by launching 'reuse' methods (thredup, 2019).
And it's not just the UK that is purchasing second hand clothing. Koutsou-Wehling (2023) suggests that it is a global change. However, it is clear to see that we are in the lead with the United States following closely behind.
(Chevalier, 2024)
It is shown that within the first quarter of 2023, a third of surveyed consumers in secondhand shopping. Among the respondents, Gen Z was found to be the most engaged with second hand shopping and it is shown that 42 percent of Gen Z consumers engaged in secondhand shopping and Millennials was at 39 percent (Chevalier, 2024).
It is surprising to see that Boomers were also engaged with purchasing second hand clothing items and it is expected that this will grow in the following years, therefore, meeting with James Reinhart's guess of how much the second hand market will be worth.
Second hand shopping and the cost of living: Is this linked?
Yes! Yes! and Yes!! Of course, it has been shown in the 48.2 % of individual's have been majorly affected by the Cost of living (2023) and that household spends have increased to compensate the increase in bills, food shopping and others (ONS, 2023).
It is shown that the rise of the cost of living crisis has changed consumers priorities when it comes too spending. The ONS (2023) conducted a survey that shows that 15.2% of consumers spend money on fashion now therefore, showing a decrease from this before.
Chevalier, S. (2024) U.S. secondhand online shoppers by generation 2023 [Online]. Statista. Available: https://www.statista.com/statistics/1394695/share-shoppers-buying-second-hand-by-generation/.
Eileen Fisher Benefit Corporation Report (2022) 2022 Benefit Corporation Report.
Fleck, A. (2023) Infographic: Buying Second-Hand Is Gaining Popularity [Online]. Statista Daily Data. Available: https://www.statista.com/chart/30615/respondents-who-have-bought-something-second-hand/#:~:text=Second%2Dhand%20shopping%20is%20gaining.
Halliday, S. (2024) Two-thirds of UK consumers buy or sell secondhand fashion - report.
Herjanto, H., Scheller-Sampson, J. and Erickson, E. (2019) THE INCREASING PHENOMENON OF SECOND-HAND CLOTHES PURCHASE: INSIGHTS FROM THE LITERATURE. Jurnal Manajemen dan Kewirausahaan. [Online] Vol.18 (1), pp.1–15. Available: http://203.189.120.189/ejournal/index.php/man/article/view/19628/18974 [Accessed 14 Dec 2020].
Jeong, C. and Di Rienzo, A. (2014) Adaptations to local environments in modern human populations. Current Opinion in Genetics & Development. Vol.29 (1), pp.1–8.
Marigold (2024) Marigold’s 2024 Global Consumer Trends Index [Online]. go.meetmarigold.com. Available: https://go.meetmarigold.com/2024-global-consumer-trends-index-plus-mg.
Mintel (2023) UK Everyday Sustainability Market Report 2023 | Forecast [Online]. store.mintel.com. Available: https://store.mintel.com/report/uk-everyday-sustainability-market-report#:~:text=Sustainability%20market%20research%20analysis%3A%2025 [Accessed 5 Apr 2024].
ONS (2023) Cost of living insights - Office for National Statistics [Online]. www.ons.gov.uk. Available: https://www.ons.gov.uk/economy/inflationandpriceindices/articles/costoflivinginsights/spending.
Petro, G. (2021) Gen Z Is Emerging As The Sustainability Generation [Online]. Forbes. Available: https://www.forbes.com/sites/gregpetro/2021/04/30/gen-z-is-emerging-as-the-sustainability-generation/?sh=378d70de8699 [Accessed 5 Apr 2024].
Statista Research Department, (2023) Vinted revenue 2022 [Online]. Statista. Available: https://www.statista.com/statistics/1405644/vinted-revenue/.
thredup (2019) 2019 Fashion Resale Market and Trend Report | thredUP [Online]. thredUP. Available: https://www.thredup.com/resale [Accessed 5 Apr 2024].
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