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Clothing rental services like Rent the Runway and Le Tote are growing in popularity and an increasing number of retailers are introducing these options to reflect the way Millennials and GenZ customers are choosing to purchase (or not purchase) clothes. Rather than owning clothing that goes out of style in a season or two, renting these items produces less demand and waste overall–as a result, Millennials are pushing the fashion industry to become more sustainable.
Experts say that young consumers are looking for more sustainable ways to shop and choosing to live clutter-free lives in the spirit of Marie Kondo.
And rental fits neatly in with both of those habits: It feeds their thirst for newness and does so in a sustainable way.
According to Mike Barry, director of sustainable business at UK retailer Marks & Spencer, “The signals are [fashion is] on the same trajectory as plastics and forests and alternatives to meat.” Meaning that retailers must respond to these consumer preferences or be left behind.
Why This Matters: The fashion industry has a huge waste problem (not to mention a human rights one as well) and it’s something I (Miro) think about a lot when it comes to my own wardrobe and trying to live a life that doesn’t actively contribute to human and planetary harm. While I haven’t made clothing rental services a monthly habit (they can still be expensive) I have tried–like many other Millennials–to shift my closet into a “capsule wardrobe” and have found that I’ve significantly cut down on the new clothes I needlessly purchase. Not only that but owning clothing that mostly all goes together cuts down on decision fatigue and the morning stress that results from it–a lesson I learned from President Obama.
In its annual Sustainability Report, Ford Motors made several key pledges in addition to the promise to be carbon neutral as a company by 2050. In addition, they will use 100 percent locally sourced renewable energy for all manufacturing plants globally by 2035, aspire to achieve zero air emissions from our facilities, only use recycled and renewable plastics in our vehicles globally and eliminate single-use plastics from our operations by 2030, and achieve true zero waste to landfill across our operations, among other social responsibility commitments.
Why This Matters: Other car companies have focused on products — Daimler Chrysler, VW, and Tesla come to mind.
Yesterday, online retail giant Amazon announced its Climate Pledge Fund–a $2 billion that will invest in companies that develop innovative ways to reduce carbon emissions. As the Verge explained, The fund will help Amazon and other companies adhere to The Climate Pledge initiative it started in September 2019. That pledge committed the company, and others […]
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