we thing we're today, we're going to be looking at the fast fashion industry and the true cost of this fast paced life cycle and how it affects production to the environment. ah, fast fashion is quite distinct from other retailers as these be tell us design, produce and deliver fashion goods to consumers in significantly less time given their agile supply chains. fast fashion retailers, legs are on h a. m r generating successful financial results when compared to non fast fashion retailers are only generating 7 percent profit margins. fast fashion retailers are 16 percent profit margins more than doubled, that of comparable stores. so how did they achieve such high margins? well, fast fashioned ends 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 fashion 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 to 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 gardening 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 generate 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 fashion space. it doesn't work with very large factories, but instead relies on small to mid size workshops that pick up orders daily. it is very much like an over system where new orders are always coming into factories, owners, phones, and when, when they receive an order, it is incredibly efficient with over 6000 clothing. factories. styles are optimized with shan's 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 allow the company to persevere through a number of challenges from worth of intentions, 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 few as a 100 products in 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 trends cycle. so now let's bring in doctor patsy perry, author, researcher, and fashionista. so patsy, past 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, last question is really influenced the entire fashion industry really in terms of speeding up for the life cycle, speeding up the rate of change on the number of trends that 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. it's 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 pressure retailers offering and brands offering some kind of sustainable collections and sustainable casual ranges. so that when you see something this 5 times more expensive, you don't know, you know what the extra is paid for. and obviously for a lot of people struggling with the cost of living increases and so on, you know, there's, there's only so much that you can stretch to, to purchase. i think, being offered low price products. it's, you know, irresistible is nice. it's really hard to say, no, i'm not going to buy that. i'm going to save up and buy few investors 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 won't think 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 much in that way. and often the major, you know, cheap pop bricks, cheap, the manufacturers, a quality your ability. longevity is not built into them. so they, they, they pay to be quite cheap. you know, if we look more carefully at them, sometimes the fabric construction is not so, you know, elegance 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 have by buying from those pos russian companies. but i think people will be little more discerning and they will be looking for things that i can last because they can't afford it to buy somebody just to at once for nights out. but they're going to want things that they can maybe style in different ways of going to work for, you know, day 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 not going. i so grab them will destroy them too quickly. thank you so much patsy. patsy will be joining us after the break, but when we come back while fast fashion is cheap for the consumer, the long term cost on society can be very expensive. we'll explain more after the

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that are used to die, the fabric, polluting the waterways. the you and environment program claim that the fashion industry is the 2nd highest for water consumption and makes up approximately 8 to 10 percent of global carbon emissions. clothing production is already at an all time high with brands. legs are, are 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 companies. success were haul 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 coal. they won't be composed for hundreds of years and one washed, they released tiny, microscopic pieces of plastic, which find their way into the oceans. and even our bodies, on average a pieces 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

called 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 fast fashion is so cheap and of poor quality that it's simply cannot be reused. this ends up polluting ghani, and marketplaces, 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, him, our 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 make close. it is now the 2nd largest garment export in the world. and today, 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 you can find something like a proportion of, you know, how, how much money does say missed is, are make her seconds compared to how much she's worked making a year. i'll maybe have a whole amount of find something for you, but i don't know that there is a global average because it depends on the country. but it's, it's very little. now, it looks like a lot of clothing manufacturing has moved out of china. so what is china replacing its capabilities with, say, china, china's economies developing the, you know, the evolving, it's more of a knowledge based economy and they don't want to be making cheap. does she fast fashion anymore? you know, that's maybe what they start out asked. but now this is the work is the most skilled, the younger generation don't want to work in the factories behind say machine all

day. they want to be working and i've had all face to electronics or, or something like that. so those industries will then move on to the next cheapest place, or they'll need kind of in latins but you know, china such a big country fuel. but she's quite enlarged. it might take a long time to get to put it out to the, the port to the, the airport. however, it's not always make sense to kind of move that around the 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, an export because really we've kind of externalized all about pollution to other countries that produced the governments for us. and as fast fashion production lend itself 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 to be passive too much plastic and we will lots of cheap

throw away plastic things. so many countries we see in a plastic bags carry bikes, get out of fashion, plastic straws, disposable cutlery, and so on. because he all finds its way into the environment, the waterways and so on. and it's never good, is it? so i think that the tides, the tide will turn. i don't think you're buying things for your case. you don't want to, you know, buy tea cheap because you don't want to break the child or have, i 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 and safety is really important in terms of how it's made and what is made from. and now how shall 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 things to say 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, i work in the factory, in a lower labor costs country, whether it's the environment being polluted because there's no way to, to really make things well and make them up 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 is to kind of think about what you already have tried to make more of what you already have. how can you, wesley, different ways, because certainly in the u. k. wardrobes bulging with unwilling clothing and yet we still cannot stop shopping. and it's really thinking about how you can maximize the effectiveness of 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 tempt need to 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 ape and try 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's gotten 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 ultrafast fashion retail, as well as the ones with physical stores. so really, the, the original ones have them forever. 21 even. you might say they're kind of like slow read a fast fashion retail because to the online ones like shine,

who and so on. there's so much faster, so much more responsive to what's happening in the marketplace might 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 gains people, baskets, and so on that it would be harder to get that information through a physical store. so they, they have the advantage really making small runs and, you know, testing lots of new designs, you know, society and consume, increasingly holding bombs. and i believe that the route to account really and nobody wants to fill in my backyard and equally, it's not right to have the landfills in other countries that have a lot choice about what, what is some back. so i think it's increasingly distasteful and people are asking for better behavior from these problems. and also legislation is firming up in many countries, but it really,

we call 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, consume us, you know, material good, 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, nature going to night, trevor 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 wasting by new shopping every week or every month for buying stuff that really needs that you don't get lost if you start off and so, you know, channeling that 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 rampant 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 downside of fast fashion, and instead encourages customers to purchase less and only when needed. other brands are working towards a circular system up production and consumption by taking customers close back and putting them to new use or making them out of 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. i owe the name. it wasn't shipping food warming in addition to vehicle car yet no blood to sauce that was to be fish. you do so do you know the pin, i'm not sure let us but that's our gross nest. that was on

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