Rashadul Antu, Research Assistant
By doing survey on the consumers it reveals that consumers changing perception and increasing awareness for sustainable fashion and natural fibres. According to Indian Consumer Survey Fully 73 % say “they could spend the rest of their life” in the fibre”. Nearly 79 percent say they put effort into finding sustainable apparel.
India and China are the biggest markets for sustainable fashion. In 2030 india and china are going to be the most coveted markets. In the upcoming years, US will be replaced by China as the world’s biggest apparel market and India will not be far behind. Though China’s economy has slowed in last few years India China to emerge biggest markets for sustainable fashion. According to a study by Fung Global Retail & Technology, consumer spending trend remains high for kids’ wear and casual wear categories. On the other hand, India’s confidence is up three points from the previous quarter.
Some threats can be showed up on this way as like e commerce. Brands face tough competition from ecommerce and forced to downsize. E commerce is a transaction of buying or selling online. As the battle between e commerce market places and traditional fashion retailing continues, some of the biggest fashion brands comes as a major blow. Technology and internet based retail practices are changing the age old dynamics of retailing. Young generation are addicted to e commerce. This is a clear sign that these brands are in their maturity and are on a downhill slope. So, Brands need to fit with the trends in the world at the time and maintain a core position. To meet the demand of consumer transaction by e commerce should reduce and more sustainable product should grab the market.
Stable cotton prices also help the sustainable fashion to grab the market. Cotton Incorporated senior economist Jon Devine predicts the future is positive as far as cotton prices are concerned. Major cotton-producing countries such as Pakistan is expected to have a good crop, India should produce about the same as last year and the US is anticipating a 25 per cent boost, all of which should help ease prices globally.
Indian shoppers say they would be more likely to shop at a store offering clothes made from more sustainable materials. In India, 76 % of shoppers are more loyal to brands offering natural fibres like cotton. In China, 68 % of consumers are willing to pay more to keep clothing cotton-rich, according to the CCI and Cotton Incorporated Chinese Consumer Survey. So, on the upcoming days it can understand that sustainable products will lead the world .