Buyers from fashion stores are the real backbone of the fashion industry. Ironically, they aren’t given the time to shine, not like the designers, editors of magazines. Still, they buy stuff like clothes, shoes, handbags and other stuff, and play the role of intermediaries.
Which gives the designers and the fashion industry the profits and income they need to keep coming up with new ideas and keep the wheels running. They do this by setting the trends of the items the shoppers buy. They hold considerable influence over both the brands and consumers.
Buyers form a major portion of the annual sales of stores. According to the figures of 80 department stores of 25 countries, buyers make up around $56 billion of sales. Quite an impressive number, all things considered.
They have come together and are sending a strong message to the clothing brands and designers: Sustainability sells.
Sustainability is the core factor which helps the buyers in choosing what to stock and what to not. The consultancy McKinsey & Company and Camera Nazionale della Moda Italiana, Italian fashion’s governing body conducted a survey. The buyers from “the most important international department stores,” such as the Saks Fifth Avenue and Barneys in New York, Takashimaya in Japan, Printemps in France, and Hyundai in South Korea, were taken as the sample group from the researchers. Researchers then gathered their findings and presented them at the Italian group’s third international roundtable on sustainability in Milan on March 26.
Sustainability is the core factor which helps the buyers in choosing what to stock and what to not.
The survey concludes that the buyers are looking to increase the purchase of sustainable goods in the upcoming five years, to almost double. They intend to raise the budget from 23% to 42%. Around 25% of the buyers are not selling the products which are not sustainable.
The findings also revealed the factors which buyers took into account when buying a product. Sourcing of the fabrics, transparency, as well as the treatment of workers at the manufacturing plants of the brands. Factors like brand image, marketing are not taken into account by buyers. According to those findings, one “requires a deep review of both the business model and the supply chain, with investments that can account for 8-12% of total turnover.”
This is a good message as shoppers have now more options to choose from, in order to stand out brands need to focus on retaining their consumers. One such factor is sustainability.
Let us know what you think about this buyers’ message to brands, in the comment section below!