a swim through through logo, but those will good on social media has given birth to many trends from viral make. a looks to crazy shopping halls and insane challenges like the infamous tortillas lab. but it has also given rise to fast fashion as these influencers need to rotate out bits quickly. in order to keep up with their content. fast fashion refers to clothes that are designed quickly and cheaply to keep up with trends. things like czar forever 21 h and m she n and others. and while. 7 historically, fashion trends lasted about a decade. the cycle is now much faster lasting, only 3 to 5 months. i'm christy i and you're watching the cost of everything we're

today. we're going to be looking at the fast fashion industry and the true cost of this past paste life cycle and how it affects production to the environment. mm fast fashion is quite distinct from other retailers as these be tell us design, produce and deliver fashion goods to consumers and significantly less time given their agile supply chains. fast fashion retailers, legs are on h and m are generating successful financial results when compared to non fast fashion retailers are only generating 7 percent profit margins. fast fashion retailers aren't 16 percent profit margins more than doubled, that of comparable stores. so how do they achieve such high margins? well, fast fashioned aims to reduce the processes involved in the buying cycle and lead

times for getting new products into stores to satisfy customer demand at its peak. because the markets are changing rapidly, the success or failure of the stores is largely determined by the organizations flexibility and responsiveness. first, the agents for fast flashing companies are always scouting out new fashion, trends, clubs, and social scenes. when they find something they like, they quickly sketch it, send it out to design studios, and garments can be designed and sent out in stores in a matter of 4 to 6 weeks. this fast turnaround is achieved in several ways. companies like vara, by large quantities of only a few types of fabrics, just 4 or 5 different types, but they can change it year to year. they do all the garment design and cutting and dying in house, so that the process is condensed. each design is made in a short production run in order to create scarcity of the given design and generates a sense of urgency to buy while supplies last. this way,

it can also manage excess inventory. she and is also a juggernaut in the fast fashioned space. it doesn't work with very large factories, but instead relies on small to mid size workshops that pickup orders daily. it is very much like an over system where new orders are always coming into factories, owners, phones, when, when they receive an order. it is incredibly efficient with over $6000.00 clothing . factories. styles are optimized with shana internal software, which connects to its entire business from design to delivery. and it contains very simple design specifications that help manufacturers execute new orders quickly. a big brand might need a very high end designer or a designer with top technology. and even then may only be able to produce $20.00 to $30000.00 a month, but shan does not have high design requirements. so a typical university student could get started designing quickly. and because of

the variety of styles that she and demands suppliers that have already have a range of production capabilities and function more like a factory, have an easier time working with the company. this agile business model has allowed the company to persevere through a number of challenges from worsening tensions between the u. s. and china. global supply chain slowdowns and the ongoing pandemic. whereas are on the other hand, typically as manufacturers to turn around minimum orders of 2000 items in 30 days. she and asked for as you, as a 100 products and as little as 10 days. in both cases, factories need to be highly nimble in order to compete in the fast fashion space and satisfy the short trans cycles. so now let's bring in doctor patsy perry, author, researcher, and fashionista. so patchy fast fashion has always been

a trend now with the popularity of instagram and tick tock. do you see this trend going anywhere or will the industry just continue down this path because it is so convenient and affordable? yes, ass question is really influenced the entire fashion industry really in terms of speeding up product life cycle, speeding up the rate of change on the number of trends that we're, we're seeing and that we buying into whether that's kind of low market level luxury designer. i think everyone really is now producing too much, which is leading to a consumption and not keeping things very long. the cost and the price is a major part of a consumers decision when they evaluate what to buy. how can a consumer be attracted to a, say durable piece of clothing that cost $5.00 times more than a fast fashion piece? that is often an easy impulse buy. is really hard, isn't it? because we often don't see the extra value of something that's more expensive. and

often now we're seeing some of the fast fresh retailers offering and brands offering some kind of sustainable collections and sustainable capture ranges. so that when you see something this 5 times more expensive, you don't know what the extra is paid for. and obviously for lot of people struggling with the cost of living increases and so on, you know this, there's only so much that you can stretch to, to purchase. i think, being offered low price products. it's, you know, irresistible, isn't it? it's really hard to say, no, i'm not going to buy that. i'm going to save up and buy fewer best things. it's just so easy to get into that cycle of buying lots of cheaper items. and often, you know, not everyone's able to save up and purchase that one thing. it's not always accessible to people who so what are the margins like for fast fashion companies versus traditional fashion companies? are they more profitable these days?

to be honest, i couldn't comment on the margins, but i think it's really a case of just selling more stuff and making your revenue based on the volume. so you're selling a lot more items at lower prices, a rule, but the volume of things that you sell being that you're, you're making that march in that way. and often the made of, you know, cheap fabrics, cheaply manufactured. it's a quality your ability. longevity is not built in to them. so they, they, they pay to be quite cheap. you know, if we look more carefully at them, sometimes you think that, you know, the fabric construction is not so you know, elegance and, and so on. so, you know, they really are made for, for pennies. when they call me the way it is and people starting to save and consume less, people are going to be spending less on impulse buys and discretionary items like clothing. what companies do you think will be the most impacted fast fashion or

traditional fashion companies? i think that you know, when, when the purse strings are being tightened, you know, we can't always afford to spend on those kind of mid market companies. so it may be the actually, all you can afford is to, you know, replace clothes for yourself or the kids sorts heifer by buying from these fast russian companies. but i think people will be little more discerning and they will be looking for things that again the last because they can't afford to buy something just to i want for a night out. but they're going to want things that they can maybe style in different ways and that is going to work for today. we're going out and so on. and they might be a little bit more discerning about, you know, the quality of things that are going to wash. well, you know, kids are not going. i, so grab them or destroy them too quickly. thank you so much patsy. patsy will be joining us after the break, but when we come back, while fashion is cheap for the consumer, the long term cost on society can be very expensive. we'll explain more after the

break out 9 man, boston superior, put $4000000.00. so, you know, they said to vehicle car yet know, blessed with us. that was sort of be the she did. so do you know, the peer, i'm going to let us, but that's our growth net that was on the let me just put you on this alex's launching on. i was unable, it will be almost in mind you may still want to continue listening to the computer. yes. so it's just purely can you me see it is

for nice dollars on i box which i use but in a sickly in a little boys. even lynch school out of the school, jenna, me, assistant images, as i say on the reason i ask you is, i'm sure political some on i said a lot to us on the saw the english and medicaid lost so much so much mrs. saw to see that she is a, you know, the run up the year after they were not on apple much fun and run away and help me the the

ah, for generations people have been coming here to case with us to get healthy, taking advantage of the mineral waters and the fresh air. today, the city is at the forefront of cutting edge research, helping athletes, not by utilizing better, but by depriving them from it. today we are speaking to the head of the innovation center of the russian, the olympic committee, world renown trainer, alexander christian. ah, yes. now i can you media if it's deploy smear to nancy, you know them, with the new book that probably the national shifty,

radiates. young showcase in a ways w boy ah ah, what would be the name on that number of your quote i'm in my chair at the water doesn't want that much extra mom, but i know to put in a bit whole welcome back. we are discussing the cost of fashion, and while fast fashion is cheap for the consumer, the long term cost on the society can be very expensive. something as basic as

buying a t shirt can directly impact someone half way around the world and the chemicals that are used to die, the fabric, polluting the waterways. the un environment program claim that the fashion industry is the 2nd highest for water consumption and makes up approximately 8 to 10 percent a global carbon emissions. clothing production is already at an all time high with brands like vara, producing over a $140000000.00 garments a year. and with laura, you know that if you don't buy it right then and there, within 11 days, the entire stock will change. because the price are so low, you'll probably end up buying it there and have immediate gratification. tick tock has played a large part in these company success were whole videos, which depict people showing off new pieces are immensely popular. these 20 pieces will likely fall out of style quickly as fast fashion companies sacrifice quality for inventory. this means that these items will unlikely survive more than 10 wash

cycles before falling apart. on top of that, most cheap clothes are made of synthetic fibers, like nylon or polyester that are created from oil or cold. they won't be composed for hundreds of years and one washed. they released tiny, microscopic pieces of plastic, which find their ways into the oceans. and even our bodies, on average, a piece is worn 7 times before being discarded or given away to charities that won't take them anymore. this also means that the majority of these close and up in landfills currently approximately 85 percent of textiles are discarded in the us. only about 13 percent of clothing and shoes are recycled and globally, we are expected to discard more than a 134000000 tons of textiles annually by 2030. that means that $100000000000.00 worth of materials is lost every year as less than one percent of

textiles produced for clothing is recycled into new clothing. fast fashion has also caused ethical problems and developing nations like gonna, the u. s. textile waste has created a salvage market in recipient countries like gonna where they can re purpose clothing. however much of fast fashion is so cheap and of poor quality that it simply cannot be. we used this ends up polluting ghani, and market places, beaches and dumps. and in order to make clothing as cheap as possible, the fashion industry harness the cheap labor in countries such as cambodia, my m are vietnam and bangladesh. and in fact, bangladesh as minimum wage is one of the world's very lowest, as we just continue to rise in china. so it has increasingly become an attractive place to may close. it is now the 2nd largest garment export in the world, and to day 97 percent of apparel and foot where items are made overseas where cheap

labor is exploited. and for more let's bring in again dr. patsy perry, author, researcher, and fashionista. so patsy, what is the average wage for sowers and garment manufacturer? workers in these countries? i think we can find some like a proportion of the, you know, how, how much money does say missed is, are make a 2nd compared to how much he worked. making a year, i'll maybe have a home bound to find something for you, but i don't know that there's a global average cuz it depends on the country, but it's is very little. now, it looks like a lot of clothing manufacturing has moved out of china. so what is china replacing its capabilities with? so china isa, china's economies developing it so that you know, evolving it's more of a knowledge based economy em, they don't want to be making cheap. does she fast fashion any more? you know, that's maybe what they start out, ask, but now this,

so that works the most skilled. the younger generation don't want to work. most factory sought behind a machine all day. they want to be working and i had all say, so electronics or, or something like that. so those industries will then move on to the next cheapest place. or they'll move kind of in latins but you know, china such a big country fuel factories quite in land. it might take a long time to get to put it out to the portal the, the airport. however, it's not always make sense to, to kind of move there rather than move to another low cost labor country. and they don't want to be bringing all that pollution to their country, making stuff either for domestic consumption offer, you know, m for export. because really we've kind of externalized all of that pollution to other countries that produce the governance for us. and as fast fashion production land, it's all to other industries like the toy industry. are we going to see cheaply manufactured products like toys and plastic goods proliferating?

i guess we would have done yet, but i think the tide is turning and you know, people are seeing the negative impacts of too much plastic on, you know, we have lots of cheap throwaway, plastic things. so many countries were senior plastic bags carry bites, get out of fashion, plastic straws stick, disposable cutlery, and so on. because it all finds its way into the environment, the, you know, that the waterways and so on and it's never good. is it? so i think that the tides, the tide will turn. and also if you're buying things to your case, you don't wanna, you know, buy t cheap because you don't want it to break him in a hardware child or whatever. so think you might be more conscious if you're buying things for the children that you do want to have that certain level of quality. your ability of safety is really important in terms of how it's made and what is made from. and now how should consumers think about the true cost of fast fashion, given all the widespread environmental and social impacts?

i think we, we need to question, why think so cheap and you know what the reasons are for it being so cheap, but it's normally because somebody or some think he's paying the cost for that. whether it's work in the factory, it a little labor cost country, whether it's the environment being polluted because there's no way to, to really make things well and make them at such a low cost. so i think we just need said, if we're able to just be a little bit more discerning and try to buy your best to things really be a bit more conscious about what we're buying and making sure that we kind of buying it. not just about 11 less, you know, the best way really to kind of think about what you already have tried to make more of what you already have. how can you, where things in different ways because certainly in the u. k wardrobes bulging with and warm clothing and yet we still cannot stop shopping. and it's really thinking about how you can maximize the effectiveness, submit the use of

a few existing war trip rather than just buy more will new stuff. but i was quite hard today because all of the marketing messages about tempting each buy more new stuff, you know, even 2nd hands consignment retail site, that the email marketing is always about. come on, have a look when you collections and so on. so it's really hard to kind of re call from us, you know, we look at what's in your water. i've been trying to make more use of fast. and even though consumers are aware of these costs, do you think it is enough to change consumer behavior? when fast fashion is just like fast food, cheap and convenient, it got worse because it's faster and more, there's more of that. so there's much more choice now. as of now you've got all of the online, super fast, all flash retailers, as well as the ones with physical stores. so really the, the original ones dara haitian them for over 21. even. you might say they're kind

of like slow, free to fast fashion retailers because to the online ones like shine, who and so on there so much faster, so much more responsive to what's happening in the marketplace. and i have a huge amount of data that they can use from being online and seeing what people are buying, what they're searching for, what's going into people's baskets and so on, that it would be harder to get that information through a physical store. so they, they have that advantage really making small runs and, you know, testing lots of new designs, you know, cities in society and consumers, they're increasingly holding brands and seen, i believe that these browse to account really and nobody wants landfill in their backyard. do they? so an equal, it's not right to have these landfills in other countries though they always have a lot choice about, you know, what, what is there. and so i think it's increasingly distasteful answer poplar, you know, asking for better behavior from,

from these brands. and also legislation is firming up in many countries. but i think really we can't rely on voluntary action from corporations, but it needs to be legislated, but things are getting straighter. so i do have hope and i think, you know, consumers, you know, material goods do not bring eternal joy and happiness. we know that's anyway. we still buy into it, but it's ready by experiences. you know, relationships with friends, with family experiences. you know, that you're going to night trove locked down, so it's not really about buying laser laser more new stuff. it's, it doesn't really make you happy to. so i think when you can wean yourself off of thoughts, you can actually save a lot of money that you might have been wasted by new shopping every week or every month for buying stuff that really needs and you don't get lost if you start off and so, you know, channeling about money into other activities. thank you so much patsy. for joining

us today. the fashion industry has been stagnant for quite some time, but fast fashion has employed 300000000 people globally and has grown to a 1.3 trillion dollar industry. the fashion industry is complex and there is no central figure to blame for the perceived injustice. in fact, much of it is actually consumer driven, as customers are the ones willing to pay 76 percent of full price. so to deliver on what the consumer wants, fashion brands need to find ever more creative ways to cut costs, reduce wages and set harsh terms for production, which leads to ramp and labor abuses at the garment. factories. suppliers are also squeezed so hard financially that they are incentivized to cut costs in any way possible. however, change is coming to the fashion industry. as

a handful of brands are shining, the spotlight on a more sustainable model. these brands like patagonia market and durable clothing and accessories made with sustainable materials. patagonia market the brand to make consumers aware of the downsides of fast fashion, and instead encourages customers to purchase less and only when needed. other brands are working towards a circular system of production and consumption by taking customers close back and putting them to new use or making them out of a 100 percent recyclable materials. i'm christy. i thanks for watching and we'll see you back here next time on the cost of everything. ah ah ah,

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