A recent Economist Intelligence Unit (EIU) research for U.S. Cotton Trust Protocol shows that, despite the difficulties caused by Covid-19, top managers of the major fashion manufacturing and sales industries and textile companies consider sustainability a primary objective.
Most of the fashion, retail and textile top managers interviewed (60%), identified the sustainable turnaround as one of the two main strategic objectives for their business, second only to improving customer satisfaction (first place with 64%). This contrasts sharply with the traditional goal of “rewarding shareholders” which is now only indicated by one in six (15%) of those interviewed as the main objective.
Top managers say they are introducing sustainability measures throughout the production chain. plans, starting from the procurement of raw materials produced in a sustainable way (65%), to adopt an approach based on the circular economy and the reduction of greenhouse gases (51% each) and invest in new technologies such as 3D printing and blockchain (41%). Overall, the majority (70%) are optimistic that fast fashion can be both accessible and sustainable.
70% agree that “fast fashion, accessible is sustainable and achievable” and consider the crisis as an opportunity to strengthen efforts. Despite the validity of the data that qualify the efforts of operators in the sector towards a “green” vision , the need to have better quality data remains in order to more effectively support the renewal process started. In this regard, 73% of respondents agree that global standards and certifications are a good mechanism to measure and highlight the level of sustainability of a brand to consumers.
