how Could Changing Consumer Trends Affect Fast Fashion Leaders H&M & Zara? #Fast_FashionFebruary 12, 2019
Fast fashion leaders H&M and Zara could be impacted by changing consumer trendsGetty
Additionally, in the last several years H&M has seen their rival Zara, the world’s largest fashion retailer, taking share with more fashionable offerings.
New, online-centric players are upping the fast fashion ante by leveraging social media in new waysFashionnova.com, Asos.com
Another annoyance for the two fast giants is the emergence of a whole new breed of online-centric players beginning to beat both H&M and Zara at their own game.
They have managed to build more than 14 million social media followers; and in 2017 Fashion Nova became one of the most Googled brands in the world.
The company has been able to introduce anywhere between 600 and 900 new pieces per week.
Attitudes are changing around unsustainable, throw away fashion and its environmental and humanitarian impact, as evidenced in the New York Times documentary Invisible Handsfirstrunfeatures.com
This has led to growing evidence that both millennials and gen Z’s are pushing for a new level of transparency around the ecological footprint and entire life cycle of all products.
Investing In a More Personal Style
Trending appears to be changing from a top-down fashion evolution, dictated by manufacturers and fashion periodicals, to a bottom-up percolation, driven by social media and personal expression.
With two thirds of the world’s e-commerce unicorns, more than half of global online retail sales, and countless digital and tech innovations, Asia is no longer waiting for Western companies to step up. Asian players will assert their power and leadership even more through pioneering innovations and global-scale investment and expansion.