Purpose
Purpose is an extremely significant concept for a company. Nowadays, as the resources in the world have been excessively used. A considerable factor for business is sustainable development: not only in the environmental aspect, but also for their innovation, idea they conveyed, the position in the whole market, etc.
The longevity of a company depends on its strategies. The company need to reflect on three factors: mission, vision, value proposition (Gee, 2022). That means it is deeply important to think where they are, why they exist, what important for operating. A living company know how to communicate to their consumers by different ways, thus the importance of brand philosophy can be easily observe.
For Gen Z, the issue of reuse and variety is still significant in their minds nowadays. Not only for they express their attitude through fashion, but the new fashion elements that are coming out are also making them concern about reducing the weight of their wardrobe.
Series of efforts have also been made to reuse. M&S has conducted a cooperation with the charity Oxfam to encourage consumers donate the clothes they no longer want so that they can recycle them to sell again (Gwilt, 2020). That is an example of sharing economy. Girl Meets Dress website is another typical example of sharing economy. They work as a shared wardrobe, providing various of two hand clothes in a cheaper price (girlmeetsdress). Thus, the people who pursuit fashion and diversity can purchase more suitable clothes. However, there still some difficulties for the reuse industry: the recycle problem, the wash problem, the safe problem which means they are hard to prove whether their products are clean.
Although there many difficulties, the development of secondhand market can not be stop. “In the US alone, the secondhand fashion market could grow 20 percent between 2020 and 2025 to reach $67 billion in size, according to estimates by BoF Insights.”(Chen, 2022, BoF).
Reference list
Chen, C. (2022, April 4). Can fashion resale ever be a profitable business? The Business of Fashion. Retrieved October 30, 2022, from https://www.businessoffashion.com/articles/retail/can-fashion-resale-ever-be-a-profitable-business/
Gwilt, A. (2020, July 9). ProQuest Ebook Central. ProQuest. Retrieved October 30, 2022, from https://ebookcentral.proquest.com/lib/fjpw/home.action