Ahead of its WGSN Futures summit to be held this May, global trend authority WGSN has released its Vision 2030 report flagging some of the biggest challenges facing the fashion industry today.
As retailers, designers and manufacturers struggle to keep up with the demands of fast-fashion, the report also highlights ecological pressures facing the fashion industry, which is the third largest consumer of water, coming in just behind the likes of big oil and corporate paper producers.
Solutions explored include a closed loop economy and methods such as 3-D printing, among others, as game-changing means to rescue the fashion supply chain as we know it.
Lauretta Roberts, head of brand at WGSN, said: “Sustainability is fast becoming a commercial imperative in fashion, with increasingly rare natural resources driving the price of materials such as cotton and polyester. In addition, consumers are demanding sustainable supply chains, and turning away from brands that can’t deliver.”
Roberts continues: “While consumers are putting pressure on the industry to change, this can’t be the only driving force. Just like the role the industry played in creating fast fashion, we now need to take a stand for sustainability and close the loop – promoting the concept of higher quality products kept for longer periods of time, as well as recycling and upcycling.”
Key industry players will come together at the upcoming WGSN Futures event to discuss these issues and the define the key trends that will shape the industry over the next 15 years.
The event run over one and a half days from 25-26 May 2016, taking as its theme The Vision 2030: how technology will drive a more sustainable and more successful creative industry. Global industry thought leaders and WGSN experts will explore the major trends in design, technology & commucations, consumer behaviour and retail. Attendees can expect to leave equipped with actionable insight to apply to their business .