The Economics of Fast Fashion

Abstract

The Fast Fashion Industry is a global market that dictates an increase in consumers' buying behavior. The business model efficiently creates clothing cheaply and quickly to keep up with the latest fashion trends while fulfilling instant gratification to the audience during their shopping spree. This paper discusses social, economic, sustainability, and environmental factors of the Fast Fashion industry and its' potential impact on the economy, environment, and society. Also, I examine the relationship between the store's location of the three biggest fast-fashion companies in the U.S. (H&M, Forever 21, and Old Navy) and socioeconomic factors. The findings indicate that only population affects the location choice of all three companies. Finally, I offer potential solutions to create more awareness for the public and provide examples of how to decompose their clothing.