VESTIAIRE COLLECTIVE | Exposing the true cost of fast fashion

Fashion, Lifestyle

VESTIAIRE COLLECTIVE | Exposing the true cost of fast fashion

Through this study, Vestiaire Collective aims to change consumers' perception of the price of an item, encouraging them to invest, both financially and ecologically, in sustainable items.
337

Through the publication of its latest research, Vestiaire Collective, the world’s leading platform for reselling pre-loved luxury fashion, continues its mission to change the way fashion is consumed.

In addition to the disastrous climate consequences of disposable fashion, research reveals that the belief that fast fashion is cheaper for the consumer is false. Price continues to remain a major barrier for consumers, a factor that Vestiaire Collective has analyzed with a new approach to the true value of fashion: cost per use.

Through this study, Vestiaire Collective aims to change consumers’ perception of the price of an item, encouraging them to invest, both financially and ecologically, in sustainable items.

Cost per use reveals the actual cost of an item based on how often it is used, its total lifespan, and its resale value. While fast fashion items may initially seem financially attractive, research shows that some second-hand items are a better long-term financial investment.

Across all categories and price ranges, pre-loved garments have a cost per use that is approximately 33% lower than fast fashion garments, which are worn more than 2 times less on average.

Pre-owned consumers keep their items 31% longer than average, with the gap highest in the shoe category (+48% above average).

Regardless of the circumstances, the cost per use is always lower when purchasing second-hand clothing. In particular for seasonal garments and those designed for specific occasions, such as coats and dresses.

“In the current climate of inflation, it is clear that neither people nor the planet can afford fast fashion. We want to educate consumers about the benefits of circularity while raising the alarm about the devastating impact of fast fashion. This report is a wake-up call to combat excessive spending and consumption, often fueled by low and attractive starting prices.” Fanny Moizant, President and co-founder of Vestiaire Collective

 

“Affordable fast fashion isn’t as cheap as it seems. Buying cheap fast fashion is deceptive, because you end up paying for the same item twice, if not more. We support circularity because it’s not just good for wallets of consumers, but because it also protects our planet. Second-hand luxury items are more affordable over time and also have a longer lifespan) makes more sense today than ever.” Dounia Wone, Chief Impact Officer of Vestiaire Collective

Titled “Exposing the true cost of fast fashion,” this circularity report also reveals the company’s environmental and social impact.

Complete circularity report available at the following link: CLICK HERE

Comments are off this post!