Fast Fashion Faces Headwinds, Digital Expands Customer Bases, Consumers Want Their Occasionwear Now

By  |  October 14, 2021
 | 
Formalwear

Digital marketplaces are helping retailers expand their customer bases. Plus, the buy now, get now mentality is assisting occasionwear retailers, and fast fashion faces headwinds amid the global supply chain slowdown.

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    Data:

    17%: Share of consumers buying more clothing and accessories online than last year.

    6.5%: Decrease in mall traffic in September 2021 compared to 2019.

    11M: Tons of clothing that are thrown away in the U.S. every year.

    11x: Pace of secondhand apparel market growth compared to the broader retail clothing sector.

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    5M; 90M: Number of active sellers and buyers, respectively, on Etsy as of June 30.


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