【服饰服装报告】麦肯锡-什么是快时尚？（英）.docx

McKinsey&CompanyMcKinseyExplainersWhatisfastfashion?Fastfashionretailershavespeduptheirproductionprocesses,gettingnewstylestocustomersatarecordpace-andcreatingsignificantenvironmentalandsocialchallenges.December2023Fashionisfun.Ifyou,veeverseenamakeovermontageinan,80smovie,you,rewellfamiliar.Tryingon,buying,andkeepingclothestoreflectourvariousmoodsfulfillscomplexhumanneedsforcomfortandindividualexpressionaswellasforconsumption.Fashionisalsoseriousbusiness.In2023,theglobalindustrywasestimatedtobeworth$1.7trillion.Andmorethan300millionpeopleallovertheworldworkonclothes,somewherealongthevaluechain.From2000to2014,clothingproductiondoubledandthenumberOfgarmentspurchasedpercapitaincreasedbyabout60percent.Thisisdue,inpart,totheriseoffastfashion.Fastfashionretailersmove,well,fasterthantheirtraditionalcounterparts.Thismeansthattheycompressproductioncyclesandturnoutup-to-the-minutedesigns,enablingshopperstonotonlyexpandtheirwardrobesbutalsorefreshthemquickly-andcheaply.Andshoppers,itturnsout,loveanewlook:accordingtotherecentTheStateofFashion2024report,publishedbyBusinessofFashionandMcKinsey,40percentofUSconsumersand26percentofUKconsumershaveshoppedatfastfashiongiantsSheinorTemuinthepast12months.Ifyouincludeotherfastfashionretailers,thenumberwouldlikelybemuchlarger.Forallthegrowthitgenerates,thefastfashionindustryisalsoresponsibleforconsiderablewaste.Fastfashionconsumersarequicktothrowclothesaway：someestimatessuggestthatconsumerstreatthelowest-pricedgarmentsasnearlydisposable,discardingthemafteronlysevenwears.Foreveryfivegarmentsproduced,theequivalentofthreeendupinalandfillorareincineratedeachyear.Andtotalgreenhousegasemissionsfromtextilesproductionclockinat1.2billiontonsayearthat,smoreemissionsthanthoseemittedbyallinternationalflightsandmaritimeshipscombined.Reportsalsoindicatethatsomeclothingfactoryworkersareunderpaidandexposedtounsafeworkplaceconditions.Thetruecostsoffastfashionarecomingintofocus,especiallyformillennialsandGenZ.Youngpeoplearebecomingmoremindfulofsustainabilitywithrespecttohowtheyconsume.They'realsokeenlyawarethatthefashionindustryisamajorcontributortoglobalwarming.Andthey,rewalkingthetalktoo:halfofGenZshoppersinChina,accordingtoarecentsurveyaboutsustainableconsumption,saidtheyaimedtobuylessfastfashion.Howcanthefastfashionindustrygiveitselfasustainabilitymakeover?Readontofindout.1.earnmoreaboutMcKinsey,sRetailandSustainabilityPractices.Whatisultrafastfashion?Iffastfashionretailersspeeduptraditionalproductcycles,ultrafastfashionmovesevenfaster.Backinthe1990s,theSpanishretailerZarawasoneofthefirstfastfashionretailerstobreakthemold,offeringhundredsofnewitemsperweek.Asof2023,theChineseultrafastfashionretailerSheinconsistentlychurnsoutupto10,000newdesignsaday.AndShein,sproductsarezonaverage,significantlylessexpensiverelativetothecompany'smoreestablishedfastfashioncounterparts:Shein,saverageSKUpriceis$14,comparedwith$26atfastfashionretailerH&Mand$34atZara.Sheingrewdramaticallyduringthepandemic.Dueinparttoasurgeinonlinesalesanddigitaladoptionrates,thecompanymorethandoubleditsmarketshareintheUnitedStatesduringthattime;itsnowthesecond-most-popularshoppingwebsiteamongAmerica'sGenZ(afterAmazon).Ina2022fundinground,Shein,svaluewassetat$100billion(in2023,itreportedlydroppedto$66billion,likelyinanticipationofincreasedregulation).Howarefastfashioncompaniesevolvingthebusinessmodel?Ultralowpricesarecriticaltothesuccessofthefastfashionbusinessmodel,asarecondensedturnaroundtimes.UpstartfastfashionretailerssuchasSheinandTemuareupdatingthemodelinthefollowingways:Agile,scalablemanufacturer-to-consumersupplychains.Somenext-generationfastfashioncompanieshavedevelopedlargenetworksofsupplierswhooftenmanufactureexclusivelyforthesecompanies.Data-drivenproductdesignandtesting.Shein,forinstance,usesdemand-driventrendmodelingtodesignandselectitsproducts.Thisincludesarangeofdatainputsfromcurrenttrendstoviralproductstocustomerperception.1.oyalandgrowingcustomerbases.Thesearefedbyaffiliatemarketinginfluencerprogramsandorganicsocialcommunitybuildingfwhichlowercustomeracquisitioncosts.Highappadoptionratesandengagementtactics.Companieshavegamifiedtheirappexperiences,allowingcustomerstoearnloyaltypointsbysettingupaccounts,leavingreviews,watchinglivestreams,andmore.HowarefastfashionorganizationsaddressingsustainabilityconcernsintheirC-suites?Onewayfashioncompanies,fastandotherwise,arepreparingforthesustainabilitychallengesaheadisbyrestructuringtheirC-suites.AccordingtoMcKinseyzSStateofFashion2024report,theC-suiteteamsatalmostallofEurope,s25biggestfashioncompaniesincludeatleastoneexecutivewithenvironmental,social,andgovernanceexperience.Theseexecutivesoverseeaseriesofsustainabilitystrategies,fromshrinkingtheircompanies,carbonfootprintstoreducingwastetoimprovinglaborrelations.Thebrandsthatexecutesustainabilitystrategiesmostsuccessfullyincorporatesustainabilitycomponentsintoexistingrolesratherthancreateentirelynewones.Forexample,theUK-basedfastfashionretailerPrimarkputMichelleMcEttrickzthecompany,sfirstchiefcustomerofficer,inchargeofleadingsustainabilitystrategy.Andsuccessasasustainabilityexecutivecanopendoorstothetopjob,asinthecaseofHelenaHelmersson,whowasappointedCEOofH&Min2020afterservingasthecompany,sheadofsustainability.Howcanthetextileindustrymakebusinessmodelsmoresustainable?Manyfastfashionplayersareconsideringhowtomaketheirbusinessmodelsmorecircular,inresponsetoclimatepressuresandaquicklyevolvingregulatorylandscape.Inacircularmodelofvaluecreation,resourcesaredeployedoverandover.Conversely,atraditionallinearmodelbeginswithextractionandconcludeswithend-of-lifedisposal,withtheexpectationthatconsumerswilldiscardgoodsandbuymore.Hereareafewwaysinwhichfashioncompaniescanworktowardcomplyingwithchangingregulations.Improvedtraceability.Achievingfullsupplychainvisibilityacrossalltiersofmanufacturingwillbeacriticalenablerforregulatorycompliance.Advancesinblockchainandothertechnologiesmayhelpcompaniestoenablemoretransparentandefficientmonitoring.BrandssuchasBrooksSportsandRenfroBrandshavedeployedTrusTrace,sdigitaltraceabilityplatformtoachievetraceabilityatscale.Sourcingandproduction.Upstreamsupplychainactivitiesaccountforthemajorityofcarbonemissionsintheapparelindustry,sointhefuturetheremaybeasharperfocusondecarbonizingtheproductionofmaterialsandgarments.Brandsmayincreasinglyshifttonewsuppliersorjoinstrategicalliances.TheluxuryretailbrandHermes,forexample,haspartneredwithstart-upMycoWorkstosecureaccesstoitsengineeredmycelium(anetworkoffungalthreadsthatcanbeusedtoproduceaproductSimilartoleather).Design.Anewemphasisonlongevityanddurabilitymaydemandfreshattentiontodesigndetailssuchasstitchingandseams.Materialsthatcannotbeseparatedinrecyclingmaybeavoidedinthefuture,meaningdesignersmighthavetothinkmorecreativelyabouttheirdesignchoices.End-of-lifewaste.Newbusinessmodelsarecomingtotheforetominimizeproductionandwaste.Resalecontinuestogrowthroughbrandpartnershipswithsecondhandmarketplaces,suchastheReaIReaIandVestiaireCollective.Thereisalsoanopportunitytoaccelerateclosed-looprecycling,aprocesswherebyaproductcanbeusedandthenturnedintoanewproductmanytimesover.Stockholm-basedRenewcellisrampinguptheworld'sfirstat-scalefiber-to-fiberrecyclingfactoryandisalreadyworkingwithglobalbrandsincludingH&Mand1.evizs.Asglobalbusinessreckonswithincreasingclimatepressuresandachangingregulatoryenvironment,thefashioncompaniesthatcutnewpatternsforsustainabilityaretheonesmostlikelytoexcelinthefuture.Articlesreferenced：“TheStateofFashion2024:Findingpocketsofgrowthasuncertaintyreigns/November29,2023,AnitaBalchandanizDavidBarreletzAchimBerg,GemmaD,Auria,FelixRolkenszandEwaStarzynska“Greatmerchandisingnevergoesoutoffashion/March15,2023,DavidBarrelet,MatthewChapman,ErikEklw,JuliaHuang,FelixRolkens,andHannahYankelevich“TheStateofFashion2023:Holdingontogrowthasglobalcloudsgather/November29,2022,ImranAmed,SarahAndr6,AnitaBalchandani,AchimBerg,andFelixRolkens“Insearchoffashion,ssustainabilityseekers/June28,2022,ElisaAlbellafAnitaBalchandanizNicCornbleet,and1.ibbi1.ee“StateofFashion2022:Anunevenrecoveryandnewfrontiers/May2,2022,ImranAmed,AchimBerg,AnitaBalchandani,PamelaBrown,HannahCrump,AmandaDargan,SaskiaHedrich,JakobEke0fJensen,1.eila1.eMerle,FelixRolkens,MichaelStraub,andRobbYoungMtKimvInsighuApp.f*，Ij<<T>wrr“Isluxuryresalethefutureoffashion?/December14,2020,Miriam1.obiswRefashioningclothing/senvironmentalimpact/July25,2019,ClarisseMagnin-MallezandSaskiaHedrich“Developingproductsforacirculareconomy/November14,2016,EricHannon,MarianneKuhlmann,andBenjaminThaidigsmann"Stylethat,ssustainable：Anewfast-fashionformula/October20z2016,NathalieRemy,EvelineSpeelmanzandStevenSwartzGettoknowanddirectlyengagewithseniorMcKinseyexpertsonfastfashionAnitaBalchandaniisaseniorpartnerinMcKinsey,s1.ondonoffice,AchimBergisaseniorpartnerintheFrankfurtoffice,GemmaD,AuriaisaseniorpartnerintheMilanoffice,ClarisseMagnin-MallezisaseniorpartnerintheParisoffice,andPatrickSimonisaseniorpartnerintheBerlinoffice.Copyright©2023McKinsey&Company.Allrightsreserved.