GGR252H5 Lecture Notes - Lecture 7: Devaluation, Fast Fashion, Baby Boomers
Document Summary
Generates over billion revenue annually: more than billion annual spending on clothing by north america. Global consumption: affluence and lower prices, growth in emerging economies. Fashion paradox: economic importance, unethical and unsustainable practices. Prices of clothing had decreased a lot over the years, but lower pricing just creates the motion for people to purchase more items. People are wealthier, but spending less of their income on clothing. 2700 litres of water to produce a single t-shirt. 11. 1 million tons of textiles in us landfills annually. . 7 billion of unworn clothes in uk closets. Each generation consumes more than the previous generation. Clothing as a social tool: we don"t buy clothing as a necessity, self-expression, identity, confidence, judging others- negativity, materialism and conspicuous consumption. Fashion forward: adopt new trends, broadcast latest fashion styles, seeking new styles. Increase number of fashion seasons: no longer your typical every few months.
