NATIONAL INSTITUTE OF FASHION TECHNOLOGY, KOLKATA

MANAGERIAL ECONOMICS

ANALYSIS OF FAST FASHION INDUSTRY IN INDIA

Under the guidance of

Mr. Swapan Chakraborty

MFM BATCH 2021-2023

BY GROUP 2:
BHAVYATA CHAVDA
MONICA RAJU
PRACHI GOENKA
SAKSHI RAJ
SAPTARSHI DAS
SATAKSHI BISEN
TANVI DUGAR

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 TABLE OF CONTENTS

1. Introduction 4

1.1. Evolution of Fast Fashion 4

1.2. Objectives 5
2. Features of the market 6

2.1. Advantages and Disadvantages of Fast Fashion 6

2.2. Marketing structure in economics perspective 8
2.3. Market share of Fast Fashion 8
3. Marketing strategy analysis 10

3.1. 4C marketing analysis 10

3.2. Pricing strategies used by fast fashion brands like ZARA 14
4. Consumer behavior towards Fast fashion 14

5. Impact on Indian economy 15

6. Degree of competition 16

7. Global fast fashion market: Segmentation analysis 17

8. Policies 19

8.1. Indian Policies 19

8.2. Global Policies 19
9. Conclusion 21

11. Bibliography 22

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 LIST OF FIGURES AND TABLES

Table 1 Types of market..........................................................................................................10

Table 2 Segments of a Global Fashion Market........................................................................17

Figure 1 Features of a fast fashion market.................................................................................6

Figure 2 Equilibrium Position of a firm under Monopolistic Competition...............................8
Figure 3 Demand Elasticity Curve.............................................................................................9
Figure 4 Top players in the fast fashion market (Source :Branded Apparel by Edelweiss, Aug
25, 2020)..................................................................................................................................10
Figure 5 Normal profits, super normal profits and losses (A).................................................16
Figure 6 Normal profits, super normal profits and losses (B)..................................................16
Figure 7 Normal profits, super normal profits and losses (C)..................................................17

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 1. Introduction

Fast fashion is a designing, production, and promotion strategy focused on

quickly manufacturing high volumes of garments. Apparel production is based on
replication of trends and use of low-quality materials to cater affordable styles to
the public. These economically made, stylish pieces have brought about an
industry-wide development towards overpowering measures of utilization.
Unfortunately, this has led to harmful effects on the environment, workers, and
eventually consumers’ wallets. But in order to better analyze fast fashion, we
must first familiarize ourselves with the movement’s history and context.

1.1. Evolution of Fast Fashion

Phase 1: Targeting the Masses (CHOUFAN, 2020)

The fashion and style choices were beginning to change evidently around two
decades ago. That's when the first phase of the evolution of fast fashion emerged.
Up until the early 21st century, fast fashion and designer-wear were two separate
sections of the market, but with the new millennium, the uprising in the fast
fashion industry was massive and hard to ignore. With trendy and affordability
being the two main advantageous features, backed up by easy and quick
accessibility, the traditional ready- to-wear brands were given stiff competition.
Now we even see high end labels and the fast fashion industry crossing over.
Several brands like H&M and Zara, which are considered as the cheaper
alternatives to high end designer wear, have also been accused of plagiarism and
copying designs straight off the ramps.

Phase 2: Ditching Big Seasons

Noticing the flexible, season-less trend updates offered by fast fashion, often as
much as over 100 times in a year, high-end designers and brands must surely
have felt limited by the traditional system of presenting two collections per year.
Now, most international fashion labels rely on monthly product drops, supported
by several marketing campaigns on social media, which has enabled them to be
considerably more flexible and in sync with consumer demand.

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 Phase 3: The Stan Smith Syndrome
The greatest insult to a designer is definitely being called predictable and
unoriginal. But that ethos, too, has been slowly but surely changing over the past
decade. In what might be called the “Stan Smith Syndrome,” renowned brands
and designers have practically flooded their collections with almost
indistinguishable versions of popular products like Adidas’ famous Stan Smith
sneaker. The case is similar for several other styles — from Palladium look-a-
likes to parkas — transported from cult or street brands at the lower end of the
market.

Phase 4: Going Direct-to-Consumer

While several high-end fashion houses have customarily depended on
wholesaling their products to luxury boutiques, fast fashion is essentially targeted
to sell straight to the consumers. Brands have now begun to own retail channels.
Going direct-to-consumer offers brands higher margins and greater control over
the customer experience, meanwhile also offering brands greater adaptability to
react quickly to market demand, much as fast fashion leaders do.

Phase 5: Abandoning Fashion Weeks

Social distancing measures designed to control the spread of Covid-19 have
delivered the final piece of the puzzle. With traditional fashion weeks effectively
on pause, brands have found alternatives, mostly digital, for showing collections.
But what is most interesting is how quickly some of the sector’s biggest luxury
brands have leveraged the situation to break free from the fashion week tradition.
It’s likely that more brands will show their collections closer to when they hit
stores, shifting luxury labels towards fast fashion’s focus on real-time marketing.
The business that began 150 years ago as haute couture, and which was later
reborn as ready-to-wear, has been remade to deliver luxury fast fashion for the
masses.

1.2. Objectives

Primary Objective -

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 - To study and analyze the fast fashion industry in India

Secondary Objectives -
- To study the evolution of fast fashion.
- To study the advantages and disadvantages of fast fashion.
- To study and understand the features, structure of a fast fashion market.
- To study the degree of competition in a fast fashion market.
- To study all possible causes that form the fast fashion consumer behavior

differences.

2. Features of the market

The main features of the fast fashion market are depicted in the figure below:

Figure 1 Features of a fast fashion market

2.1. Advantages and Disadvantages of Fast Fashion

The Advantages of Fast Fashion for Consumers: (Assoune, n.d.) (Barrigan, n.d.)

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1. Affordability: Today's consumers can buy new trendy clothing at a very low
price with the help of fast fashion. They can afford the latest styles regularly
because they are cheaply made.
2. Diverse and trendy: Many fashion brands and retailers are creating new styles
every week inspired by the latest trends in a very short time. This gives
consumers many options.
3. Easily accessible: It's difficult to ignore fast fashion because it's everywhere. It's
very practical for consumers to shop for new trendy clothes either on the Internet
or in high-street stores. For example, Zara is one of the most well-known fast-
fashion retail giants.
4. Customer satisfaction: Fast fashion companies are able to make, sell and send
products out to customers on demand, this ultimately increases customer
satisfaction.
5. Shopping is a fun activity: Many people love to shop and buying new clothes is
a daily event for a lot of consumers. Because shopping is a fun activity for many
consumers.

The Disadvantages of Fast Fashion for Consumers:

1. Negative environmental impact: One of the major disadvantages of fast fashion

is the damage it has on the environment. The fashion industry is the second-worst
polluter.
2. Migrant exploitation: One of the well-known issues found within the fast
fashion industry is the unfair treatment to migrants who work in an insecure
workplace.
3. Not showing information about their supply chain: Fast fashion brands do not
show their practices and they tend to hide certain information from their
customers.
4. Quality: Generally, the clothing made by fast fashion brands is low quality, and
the pieces fall apart quickly because product life cycle is short which ultimately
makes it unsustainable.
5. The future of fast fashion on economy: Excessive consumption of fast fashion
leads to a catastrophic impact on the environment. CO2 emissions are expected to

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 rise by 77%, and water consumption by 20% from 2015 to 2025, as reported by
McKinsey (2016).

2.2. Marketing structure in economics perspective

The success of the fast fashion model depends on low production costs. That’s
producers end up with the low-paid workers and unsafe working conditions in the
clothing industry revealed to the world when the eight-story Rana Plaza building
collapsed in Bangladesh in 2013.
In addition to low wages, the fast fashion business model depends on speed.
While fast fashion retailers stock reliable basics, their trendier items are rapidly
replaced in response to fashion’s mood and customers’ thirst for novelty.

2.3. Market share of Fast Fashion

The pleasure and pain of the fast fashion business model reflects the requisites of
monopolistic competition. Similar and yet different, the many firms and multiple
consumers in this market make differentiation a necessity. It is not only about a
firm’s merchandising and prices but also its speed and turnover. This can be
explained by the following graph in this section.

Figure 2 Equilibrium Position of a firm under Monopolistic Competition

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In the fast fashion brands, the buyers are not identical and can only be identified
through different branding, quality, etc. Advertising and promotion practices
become very vital for product segments like these. Some of these brands also
work on multiple price points but overall companies see normal profits only.
Firms operating in the monopolistic segment mostly have normal profits because
super-normal profits will tend to attract new entrants which shifts the demand
curve towards the left depicting lowered prices at which goods are sold. For
equilibrium, the marginal cost should be less than the marginal revenue earned by
the firm as depicted in the diagram through pt. ‘e’.

The major players in the market are Zara (Inditex), H&M Group, Fast Retailing
(Uniqlo), Gap, Forever 21, L Brands, Mango, Esprit, Primark, and New Look.

Firms of the monopolistic market segments have relatively elastic products. If a

particular brand would increase prices of their products, the demand would
effectively decrease and vice-versa. This happens because there are numerous
alternatives in the market, hence, if the prices are not according to the customer’s
likability, they can easily switch and move to use some other brands products.
This can the explained with the help of a graph as follows:

Figure 3 Demand Elasticity Curve

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 As shown in the graph, when the price of one brand, in this graph given as H&M,
are at P1 level, the quantity consumed of the other brands, i.e. Zara was at Q1
level. Consecutively, when the price of the H&M product rose to the P2 level, the
demand for that particular brand will decrease and as a result of which the
demand for the competitor’s products, here Zara will increase which in this case
is staged at Q2 level.

Table 1 Types of market

By age group By application By geography

1. Adults wear 1. Men 1. North America

2. Teen wear 2. Women 2. Europe
3. Kids wear 3. Children 3. Asia pacific
4. Others 4. Rest of the
world

Figure 4 Top players in the fast fashion market (Source :Branded Apparel by Edelweiss, Aug 25, 2020)

3. Marketing strategy analysis

3.1. 4C marketing analysis

The Marketing Theory of 4Cs, also known as “4C marketing theory”, was put forward
by professor R.F Lauterborn (1993), an American marketing expert, in 1990. It is the
4C theory corresponding to the 4P of traditional marketing. Guided by consumer

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 demand, it redefined the four basic elements of the marketing mix: Customer, Cost,
Convenience, and Communication. The theory holds that satisfying customer demand
and improving customer satisfaction are the top priorities, followed by reducing
customer purchase costs, providing convenience to customers in the purchase process
as much as possible, and finally implementing effective marketing communication with
consumers as the center. (Chunling, 2020)

1. Customer
Meet Customer Needs
a. Imitate the Big Brands and Follow the Fashion Trend
In order to meet the target customers' pursuit of fashion trends, fast fashion
brands choose to imitate the design of international brands in clothing design. At
the same time, learn the preference of consumers according to the feedback
information and sales data of customers, and then improve the products. This
strategy allows them to quickly design and produce clothing that meets the needs
of consumers to keep up with fashion trends by quickly following the fashion
trends of major brands.

b. A Small Number of Items, Creating a Sense of Scarcity

Fast fashion brands have the ability to launch as many as 20,000 styles every
year, on average, more than 30 kinds of rich and varied product update ability
every day. Unlike a normal clothing line, fast fashion produces certain styles in
small quantities, and even when they are popular, they sell them in limited
quantities. ZARA, for instance, makes use of the product strategy of creating a
sense of scarcity with a small number of items to meet consumers' personalized
needs for diversified and unique clothing products.

c. Civilian Price, Popular Fashion

The main target customers are young consumers who are keen on fashion but
have limited consumption capacity, and their income is not enough to afford
luxury brands. They are willing to pay for fashion, but are relatively sensitive to
price. In order to meet the needs of these consumers, the fast fashion brands
adhere to the price strategy of “affordable fashion”. Its prices range from tens of

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 yuan to thousands of yuan, allowing consumers to wear designer clothes for less
than a tenth of the cost of luxury brands

2. Cost
Reduce Customer Cost
a. Reduce Design Cost
The design comes from the sharp capture and unique interpretation of fashion
trends. Its design is not completely based on originality, but not completely
copied. Fast fashion designers draw inspiration from major fashion shows,
celebrity wear, and street fashion, and combine it with the cost consumers are
willing to pay to eliminate some overpriced design elements. This kind of
diversification absorbs the latest fashion elements and combines with the
consumer consumption level to make a choice that effectively reduces the design
cost.

b. Reduce Procurement and Production Costs

ZARA sources its raw materials from two parts, one made by a subsidiary of
Inditex and the other supplied by external suppliers. This can not only shorten the
transportation time of raw materials, to solve the problem of raw materials which
cannot be supplied in time, but also can flexibly produce products according to
market demand, reduce the dependence on raw material suppliers, production in
an active position, thereby saving costs.

c. Reduce Logistics and Transportation Costs

Fast fashion brands like ZARA use different modes of transportation for different
sales areas. For products sold in Europe, ZARA's freight contractors ship goods
by truck to stores. Because of the low cost and high speed of trucks for short
distance transportation. Goods can usually be shipped from a distribution center
to any boutique in Europe within 48 hours. For sales regions far away from
ZARA's distribution centers in North America and Asia, ZARA does not choose a
more economical way of shipping. Instead, ZARA adopts the method of air
transportation with high cost and the fastest speed, so as to ensure that products
can be sold to consumers at the fastest speed and reduce the waiting cost for
consumers to obtain the latest styles. The increase in sales and profits from this

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 456 transportation strategy more than makes up for the high cost of air
transportation.

3. Convenience
Focus on customer convenience
a. Featured Store Furnishings
Stores are based on consumers' convenience and comfort of shopping. The area of
these fast fashion stores is generally large, exceeding 930 square meters. Spacious
shops can fully show each piece of clothing to customers, making it convenient
for customers to choose. The stores also divide the area into three sections:
women's wear, men's wear and children's wear. Different types of clothing will be
placed in different areas, so that customers are at a glance when buying. This one-
stop shopping platform meets the diverse needs of consumers, solves the
confusion of customers in matching clothes, and provides great convenience to
customers.

b. Develop Online Channels

With the rise of online shopping, the brands are also developing online channels,
for instance, ZARA uses the network platform to show the latest fashion styles to
consumers, and provides professional online consultation, virtual fitting and other
services to consumers, thus saving time for customers to go to physical stores to
choose. The brand's online sales maintain the same product and price strategy as
those sold in physical stores. In this way, consumers can avoid the experience of
feeling unfair due to different channels and different prices. They also provide
online ordering, in-store pick-up, return and exchange of goods and other after-
sales services

4. Communication
Good at Communicating with Customers
a. Train High-Quality Salespersons
The sales staff in the stores are very friendly and have high professional quality.
They are trained to always follow closely behind customers to sell goods. They
will only provide customers with some wear guides and professional advice on
clothing washing and nursing when they are in need.

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 b. Improve Communication Channels
Brands collect customer feedback via phone calls and emails to produce products
that meet customer needs. Meanwhile, all stores must report the daily sales
volume and inventory quantity of the stores, and the headquarters will replenish
the goods according to the actual situation of each store. Timely feedback of
consumers' needs and preferences to headquarters enables ZARA's products to
quickly respond to market changes.

c. Perfect Internal Control System

The fast fashion brands make sure their internal control system is relatively
perfect. The work of store managers and clerks mainly follows the prescribed
procedures, and the regional managers have more autonomy.
Shop assistant duties: to provide consulting services to customers, help customers
shopping, but only when customers have a need to recommend products, give
customers full freedom. Responsibilities of the store manager: responsible for the
completion of the sales assessment indicators, and at the same time, selective
news and to the headquarters of the right to allocate goods. Regional manager
responsibilities: each regional manager is in charge of 10 to 60 chain stores. Their
main responsibility is to supervise and support the distribution of goods between
stores

3.2. Pricing strategies used by fast fashion brands like ZARA

Let's observe some of the pricing strategies ZARA, a fast fashion brand and also a
popular one, uses for its business.
- Production at a reasonable price to target customers.
- Less expensive than luxury fashion brands - Gucci, Chanel and Louis Vuitton
- Value proposition is evident, and is affordable to most customers.
- It mainly uses value-based pricing approaches.
- Focus on customers’ perceptions of value rather than company’s costs to set
price.
- Target customers want fashion clothes but could not afford the high price of
luxury fashion brands.

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 - Zara counts broken code and unsalable products every day. These products will
be sold at low price. In addition, it often provides discounts at the end of season.
(YUCHENPANG, 2016)

4. Consumer behavior towards Fast fashion

The low cost, latest trends, and many seasons of fast fashion present an
opportunity for consumers to buy incremental amounts of attire. On account of
quick style cycles and many seasons, what is "in" continues changing, making
buyers feel strain to constantly update. (Cwerner, 2001). Customers are
purchasing attire, on a normal eight to ten times each year currently contrasted
with a couple of years back, when it was not exactly multiple times. (Pictures,
Business of Fashion, April 2017). (Jain, 2016)

As indicated by the article in Quartz Media LLC (US), the fast fashion sad cycle
of compulsive shopping, guilt, and regret has spread to Asian markets recently.
Enthusiastic style customers routinely overspend on new garments in spite of not
having the option to utilize them, with post-shopping excitement regularly
transforming into guilt after not exactly a day. This is a global wonder that is
spreading all throughout the planet, according to representative surveys
commissioned by Greenpeace. A critical level of individuals qualifies as
"inordinate customers" who show characteristics of enthusiastic shopping
conduct.

As a response to the criticism of the waste and pollution resulting from fast
fashion, the concept of “slow fashion” is developed to help consumers to consider
sustainable practices related to fashion production, distribution and use. It
encourages consumers to “value and know the object” and integrates experience
with self-enhancement values. (Jain, 2016)

5. Impact on Indian economy

- Responsible for the recent growth (on average 4.78%) and future growth (5.91%
in the next three years) of the apparel industry.
- It employs 300 million people around the world. Most of the time, fast fashion
production takes place in overseas countries, where labor is shockingly cheap.

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 - Mass and overproduction are very common in the fast-fashion world, an answer
to the growing demand from consumers for speed and value all year round.
- Willingness to spend more money a year to buy more clothing.
- The clothing category with the highest growth is sportswear with sales growing at
an 8% yearly rate, reported by McKinsey And Company (2017). (Assoune, n.d.)

6. Degree of competition

Figure 5 Normal profits, super normal profits and losses (A)

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Figure 6 Normal profits, super normal profits and losses (B)

Figure 7 Normal profits, super normal profits and losses (C)

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7. Global fast fashion market: Segmentation analysis

The Global Fast Fashion Market is segmented based on Type, Application and
Geography

Table 2 Segments of a Global Fashion Market

Market by type Market by application Market by

geography

1. Adults wear 1. Men 1. North America

2. Teen wear 2. Women 2. Europe
3. Kids wear 3. Children 3. Asia pacific
4. Others 4. Rest of the world

Based on Type, the market is bifurcated into Adults wear, Teens wear, Kids wear,
others.
Based on Application, the market is bifurcated into Men, Women, and Children
Based on regional analysis, the Global Fast Fashion Market is classified into
North America, Europe, Asia Pacific, and Rest of the world. North America was
the largest region in the fast fashion market in 2019. The Asia Pacific is expected
to be the fastest- growing region in the forecast period. (Fast Fashion Market Size
and Forecast, 2021)

The major players in the market are Zara (Inditex), H&M Group, Fast Retailing
(Uniqlo), Gap, Forever 21, L Brands, Mango, Esprit, Primark, and New Look.
This competitive landscape includes key development strategies, market share,
and market ranking analysis of the above-mentioned players globally.

There are various partnerships, collaborations and agreements globally.

- Mango launched the new exclusive collection Mango launched the new exclusive
collection designed by Sofia Sanchez de Betak, Chufy x Mango on MAY 17,
2021. Sofia is a fashion director, consultant, and designer of the fashion firm that
bears her name, “Chufy”, and has collaborated with Mango for over four years.
As well as posing for various campaigns, in 2019 she attended the MET Gala

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 dressed in one of Mango’s creations. It was the first time a Spanish brand had
attended the most prestigious event in the fashion industry.
- Mango launched its first homeware collection to complement the lifestyle of its
customers, dressing the home as well as the wardrobe on APRIL 27, 2021
Mediterranean lifestyle and culture were the main sources of inspiration for this
project.
- Mango launched a solidarity collection to support breast Cancer Research on
October 1, 2020.
The Fast Fashion Market is expected to increase due to growth in media
development, increase in expenditure on fast fashion, growing youth population,
and growth of emerging economies.

8. Policies
8.1. Indian Policies

Project SU.RE is Indian apparel industry’s largest commitment to move towards

sustainable fashion

The five-point Sustainable Resolution is as follows:

1. Develop a complete understanding of the environmental impact of the
garments being currently produced by our brand. (Irani, 2019)
2. Develop a sustainable sourcing policy for consistently prioritizing and utilizing
certified raw materials that have a positive impact on the environment. (Irani,
2019)
3. Make the right decisions about how, where, and what we source across the
value chain by selecting sustainable and renewable materials and processes and
ensuring their traceability.
4. Communicate our sustainability initiatives effectively to consumers and media
through our online and physical stores, product tags/labeling, social media,
advertising campaigns and events. (Irani, 2019)
5. Through these actions, shift a significant percentage of our supply chain to a
sustainable chain by the year 2025, addressing critical global issues such as
climate change, contributing to the UN Sustainable Development Goals, and

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 building a world that is safe for the future generations, as an acceptance of a
responsibility we all share. (Irani, 2019)
These policies somehow indirectly help in the reduction of fast fashion in a
minute way. (Irani, 2019)

8.2. Global Policies

Sweden
In 2019, the Swedish Fashion Council cancelled Stockholm Fashion Week in
order to concentrate on reaching sustainability goals. Sweden has always been the
leading country when it comes to sustainability, making it the most sustainable
country in the world. In 2017, they introduced a tax on chemicals in electronics,
and at the end of 2019 they announced that they will be introducing a chemical
tax on clothes. Not only will this tax protect workers and consumers from the
potential health risks, but it protects the environment. (The government
introduced a chemical tax on clothes in order to change the externality from
negative to positive). (Parmar, 2020)

United Kingdom
In the Government report, a settlement was made to teach understudies on the
various parts of the design business. Not exclusively does the Committee and
Government place significance on youngsters finding out with regards to these
issues, yet they support the imagination and psychological wellness that
accompany the 'fulfillment of planning and fixing garments. (Parmar, 2020)

France
President Emmanuel Macron gave a mission to Chairman and Chief Executive
Officer of Kering, François-Henri Pinault, to 'unite the main players in design and
material' and decrease the natural effect of the business. This settlement handles
three significant issues: environment, biodiversity, and seas. The 32 design and
material organizations that marked this settlement all contribute in their own
particular manner to making the business more feasible; nonetheless, as a group,
the effect will be on a much bigger scope. The three targets are: halting a
worldwide temperature alteration (zero ozone harming substance emanations by

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 2050), reestablish normal biological systems and secure natural life, and
eliminating single-use plastics from our seas just as lessening the adverse
consequence the business has on them. The 32 organizations include: ADIDAS,
Armani, H&M, Nordstrom, Selfridges, and Stella McCartney. (Parmar, 2020)

Switzerland
In Davos, the CEO Agenda 2020 was delivered by the Global Fashion Agenda
(GFA). This Agenda was co-composed by ASOS, Bestseller, H&M, Kering, Li
and Fung, Nike, PVH Corp., Sustainable Apparel Coalition, and Target. It
focuses on the most critical components of maintainability and focuses another
light on biodiversity and what the business needs to do to secure natural life and
environments. (Parmar, 2020)

USA
When giving garments to good cause associations, Americans are qualified for
charge allowances. This gives a motivator to general society to give undesirable
garments to get benefits consequently. Given garments are additionally
exchanged to low-pay networks in different nations to reuse materials and
diminish the measure of dress that winds up on landfill. The Trans-America
Trading Company is likely the greatest association that guides in advancing
manageability in the US. The Company physically isolates materials into 300
distinct classes relying upon thing, size, and fiber content. This guarantees
proficiency and takes into account a wide assortment of materials to be given;
indeed, diminishing the quantity of pieces of clothing that end up on landfill
destinations. (Parmar, 2020)

9. Conclusion

In the growing textile industry, Fast fashion has played an important role in
changing the economy. Due to high customer demand various key elements can
be applied in the designing of the garments to satisfy the needs and requirements
of the customer. Several tactics can be worked upon to implement variation in
the pricing of the fashion clothes which works well in fast fashion.

Many people usually think that the clothing industry is a traditional industry, but

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 brands like ZARA have insight into the future development trend, and these fast
fashion brands have modern management and unique marketing strategies to push
the clothing industry to a new development model. Its innovation is something
that many clothing enterprises can learn from. This paper combines the 4C theory
with marketing strategy, makes a specific analysis of pricing strategy, degree of
competition, and summarizes unique marketing strategies of the fast fashion
brands.

10. Bibliography

Assoune, A. (n.d.). The Advantages of Fast Fashion for Consumers.

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Assoune, A. (n.d.). How Does Fast Fashion Affect the Economy? Panaprium.
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Assoune, A. (n.d.). How Does Fast Fashion Affect the Economy?

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Barrigan, H. (n.d.). THE PROS AND CONS OF FAST FASHION. Literally

Darling. https://literallydarling.com/blog/2020/11/24/fast-fashion/

CHOUFAN, L. (2020). Op-Ed | How Luxury Became Fast Fashion. Business of

Fashion, 2020. https://www.businessoffashion.com/opinions/luxury/op-ed-
luxury-fast-fashion-collaboration-karl-lagerfeld-hm

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Chunling, L. (2020). Analysis on the Marketing Strategy of Fast Fashion Brand
Zara Based on 4c Theory. International Conference on Economics, Management
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Fast Fashion Market Size and Forecast. (2021, July). Verified Market Research.
Irani, Z. (2019, August 22nd). Project SU.RE is Indian apparel industry’s largest
commitment to move towards sustainable fashion (1582685) [The Sustainability
Resolution adopted today is reflective of the thought of the Mahatma of being the
change you wish to see in the world] [Marathi].

Jain, S. (2016). FAST FASHION: COMPULSIVE BUYING BEHAVIOUR IN

INDIAN APPAREL INDUSTRY. 2(1).

Parmar, S. (2020). The Fashion Pacts: New Laws and Pacts to Change the
Future of Fashion.

YUCHENPANG. (2016). Zara’s secret to success retail – its pricing strategy. T1

2016 MPK732 MARKETING MANAGEMENT (CLUSTER B).
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