This week, we were proud to be featured in the first issue of The Times’ supplement, The Fashion Economy. The new supplement, which is published by Raconteur, has already bolstered itself as a fashion industry insider staple, tackling subjects such as supply chain tech, sustainability and reverse logistics.
If you haven’t had a chance to pick up your copy of The Fashion Economy (which we recommend you do), we’ve rounded up some of the main themes below so you don’t miss out.
“Making returns profitable is getting harder to master”
A subject that is becoming more and more prominent within the industry, and something we spoke about on our blog last week, is reverse logistics and how to keep it profitable.
At the heart of this article is a study by Klarna, a retail credit service, that conducted a survey that found 78 per cent of online shoppers would buy from a retailer more if they had a free returns service. Additionally, 86 per cent of shoppers said free returns would make them more loyal to a brand.
However, the rise of shoppers abusing return system is becoming an issue for many retailers, with some brands issuing a ‘red card’ to customers who are buying and returning at an above average rate.
“Enabling transparency and visibility across the fashion supply chain”
As retailers aim to make their companies more sustainable, supply chains are under pressure to create a circular economy, recycling and reusing where ever possible to reduce waste.
The article provided some useful tips on how to move towards a more sustainable model, such as reducing the weight of garments to cut on fuel usage and recycling scrap material into yarn where it can be reused.
Manufacturers are also encouraged to donate their unused, faulty or unsold items to charity to eliminate waste.
Finally, The Fashion Economy published an in-depth report on brand growth and value, with Nike boasting the title of the world’s most valuable brand, as well as the most-followed apparel brand on Instagram.
We’ve included the full infographic below.