Pros And Cons Of Fast Fashion Essay Sample
In contemporary fashion world all fashion retailers quickly bring designs from catwalk to their retail stores. Such quick moments and transitions in clothing and accessories designs refer to fast fashion. Fast Fashion collection displays most current and latest fashion trends. It is observed that fast fashion has become faster and very affordable. Companies are trying to allure customers by launching new brands, programs, styles and stores. However, the actual cost of fast fashion is always questioned by the experts. This paper discusses various advantages and disadvantages associated with fast fashion.
Fast fashion allows customers to choose products or cloths from wide range of collection, which keeps on changing. Various large fashion retailers such as Zara, H&M, and Forever 21 offer latest fashion at very cheap rate. Zarroli (2013) in his article mentioned that fast fashion is getting so cheap that a person can have latest top or t-shirt at $10 to $15 (Zarroli). Large number of retail stores increases the accessibility and availability of fast fashion to the customers. Forever 21, H&M, and Zara has around 600, 3200, and 1800 stores respectively in global market. These companies are targeting to provide fashion at more affordable rates such as tank tops in $2 and leggings at $5 (Heller). Fashion companies are making huge profits and giving good returns to their shareholders despite of selling products at very low rate.
Fast fashion allows companies to sell large volume and earn huge profit even when profit margin on each item is low. Fashion experts claim that fast fashion is good for both companies and consumers. Companies are making good profit while customers are also getting products at very low cost. H&M chairman is 17th richest person with total net value of USD26 billion. Ortega, Zara’s founder is 3rd richest person with value of USD 58 billion (Zarroli). Fast technology also allowed companies to shift from two seasons to fashion every month, which boost their sales and consumption of products. Companies such as Zara can complete all processes starting from designing of products to arrival of products on retail store shelf in one month. People from lower middle class and poor class can also afford to buy variety of cloths for different occasions.
A common question that comes in the mind that how fashion has become so affordable and fast. Is cost associated with fast fashion really cheap? Phelan (2012) in her article mentioned that companies in order to reduce the cost have shifted their manufacturing facilities to developing countries such as China and Bangladesh (Phelan). This shift not only shrinking the jobs available in developed countries but also providing poor working conditions in developing countries. Companies in order to reduce the cost compromise with the quality of products. Poor working conditions often resulted into major accidents that killed several people. In Bangladesh, factory collapsed killed 1129 people. In Dhaka, fire in a factory killed around 112 people.
After analyzing pros and cons of fast fashion is it good to conclude that nothing comes free of cost. Affordable fast fashion is result of cheap labour and hard work deployed by people who are located in poor countries. Shift of manufacturing facilities in developing countries is decreasing the jobs in developed market. Companies are compromising with quality and working conditions to reduce the cost of final products. However, despite of all odds fast fashion is in demand and customers like it.
Heller, Laura. "The Real Cost Of Fast Fashion." 28 April 2014. Forbes. 12 April 2015 <http://www.forbes.com/sites/lauraheller/2014/04/28/the-real-cost-of-fast-fashion/>.
Phelan, Hayley. "The Slow Fashion Movement: 10 Brands That Are Doing it Right." 11 December 2012. Fashionista. 12 April 2015 <http://fashionista.com/2012/12/the-slow-fashion-movement-what-it-is-and-the-10-brands-that-are-doing-it-right>.
Zarroli, Jim. "In Trendy World Of Fast Fashion, Styles Aren't Made To Last." 11 March 2013. Npr. 12 April 2015 <http://www.npr.org/2013/03/11/174013774/in-trendy-world-of-fast-fashion-styles-arent-made-to-last>.