According for example the retail company H&M produces it’s

According to the study by (Haesung Whang, Eunju Ko, Ting Zhang & Pekka Mattila;
2015)

there are many different aspects and factors
which are identified, in order for perceiving the sustainable products, by different
customers in different countries,some of these are based on cross cultural
differences. As a result of this study it has been shown that the popularity of
the brand varies from country to country. Moreover  it was also realized that a company’s policies
on leadership and sustainability can cause the consumers to consider it the
companies differently

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In a very general sense, a
company or retailer’s involvement in sustainable consumption and also the
allied sustainability issues acts as a motivation, which is activated during
the process of decision-making. During the decision making process various
aspects of the consumers are taken into account, which not only includes the
personal taste and individual needs of the customers, but also how they perceive
sustainability and social responsibility as important. Those customers which
have the knowledge on environmental issues and on the sustainability matters
are more likely to acknowledge the companies that show interest and implement
policies in the issues related to the same.

Over the years the fashion
industry has seen a dramatic change, the consumers are more conscious than ever
before on issues like green market,organic clothing, trading fairly and
concerns related to environment. At the same time, the ongoing trend of
development in a sustainable way for the economy, society and environment has
also lead the retailer’s to approach sustainability with a sense of importance
within the fashion industry (Li et al. 2014).

 

Taking the consumers into
account, it has also been noticed that a more conscious behaviour in terms of
buying has been taking place. Consumers unlike before are more environmentally
conscious and also aware of the materials that are used in their products. The
retailers also try to cash in on this trend and incorporate efficient  decision-making in a green and more
sustainable manner of production. This helps pull customers closer to their
brand. Also, retailers are creating new trends away from the throw way culture
which that had been created because of the fast fashion industry. The
environmental concerns and sustainability trend has been caught on by the
retailers and they’re fast embracing it in the fast fashion industry. Like for
example the retail company H&M produces it’s collection known as ‘conscious
collection’ etc.

In the recent times the
ethical consideration and policies have become a very important part of
incorporating policies within the larger retailers and fashion
corporations.There has been an increased awareness in the social impact and
environmental pollution because of the fast fashion supply chain model (Shaw, et al, 2006, p. 428). More and more companies are lately showing thorough concerns and
embracing sustainability and also spreading awareness amongst its customers to
act in a more responsible and sustainable manner (Porter & Kramer, 2006, p.81). With the recent trend of increased commitment towards the
sustainability and responsibility towards social and environment issues, it can
be seen that companies are using this as a major tool of innovation to capture
more of the market share (De Angelis, et al,
2017, p.1515).

 

Subsequent to all the
above stated changed, the overall attitude and perception towards the fashion
retailers are changing. The retailers and companies are also ensuring the
perceptions remain good by reporting more on its transparency, more auditing to
process the conditions of the labours in its factories also better wages and
good working conditions for its workers. Furthermore it can be seen that fast
fashion companies are also using this trend as a strategy for pricing, As it
has been noticed that customers are willing to pay more when the products have
a ‘environmentally friendly’ tag and processed under sustainable methods- such
as using organic and green materials for the production.

Consumer segmentation based on age

Taking a look into the consumer base in the
fast fashion industry. Millennials can be described as the segment with most
potential. Most studies and research state that the starting age for millennial
generation starts from 1980’s and uptil 2000’s (PWC, 2014; Goldman Sachs, 2016;).This generation is one of the most diverse in terms
of cultural and ethnic backgrounds. Never before seen levels of diversity can
be seen within this generation.

The generation of
millennials have the advantage of being born in the age of digitalization. They
were also born in an era of increasingly open markets and globalization(Goldman Sachs, 2016). Moreover, the tastes and trends in fashion for the teenagers and
adults of younger age are very diverse in today’s world and this volatility can
be traced by the influence of media and the celebrities have  impact on the consumers whom follow them (Rinnebach & Richter, 2014). This generation has grown up with good access to Internet and media
which has also enabled them to have a large-scale and instantaneous
communication on a much larger and global scale (Valentine & Power, 2013, p. 600).

Studies based on
generations have shown that the macroeconomic and environment changes have been
changing and shaping the different generations over the years(Bakewell & Mitchell, 2003, p. 95). Some of the most defining moments and factors for the generation of
Millennials include the attack on World Trade Center and the faster
introduction of Internet and access to technologies such as cell phones,social
media laptops, tablets and also the increased awareness of natural disasters
and environmental issues. These factors helped highly influenced the
millennials. (Lowes, 2015, p.
43).

 

The millennial generation
has from their early years had access to very advanced technologies(Valentine & Powers, 2013, p. 600). This has enabled millennials to have a tendency to be more skeptical
about the information they receive online. The Millennials also are
knowledgeable enough and have the ability to know that with increased
technology there is larger manipulation of information (Hill, 2011, p. 25).  The millennial generation review and share
opinions based on products with other like-minded consumers on online forums(Smith, 2012, p. 88). This further enables the group of consumers to have an understanding
of homogeneous choices and also greater awareness of environmental issues and
friendliness (Gunelius, 2008:
Smith 2015).

The millennials as
described, have been considered as that segments of the society and consumer
base with most potential. Many companies and studies have been conducted to
understand their behaviour of purchase, because of the extreme diversity and
volatile behaviour as compared to the older generations, such as the generation
of the ‘Baby Boomers'(Casidy, 2012, p. 242). In today’s world the fast fashion varies in terms of perception amongst
the various different generations. Like for example the younger people of the
population which includes people from the year of 15 to 25 years old, prefer to
go for low quality and fashionable clothes, which are cheap and can be bought
in rapid frequency.As compared to the generation from the ages of 25 to 35 year
old would prefer to have fewer purchases based on terms of quality and longer
usage of products (Crewe and Davenport
1992).

Looking further into the
millennial generation, it can be understood that they are the largest consumer
group in the fast fashion industry. This generation, based on their
characteristics and values define the current norms based on which the
retailers implement strategies in the market (Wooldridge, 2015, p. 29). It’s also a generation where the specification of age varies very
widely,as can be seen the millennial generation ranges from 17 to 37 years
old,the consumers who grew up with the fast fashion industry is known as the
generation Y(Bhardwaj and
Fairhurst, 2010). This generation is
ever-growing richer as they grow older. (Sull and Turconi, 2008).