A survey by McKinsey & Company and Camera Nazionale della Moda Italiana, Italian fashion’s governing body shows, sustainability has become an increasingly important factor in what buyers choose to stock. Researchers surveyed buyers at the most important international department stores including Saks Fifth Avenue and Barneys in New York, Takashimaya in Japan, Printemps in France, and Hyundai in South Korea. They shared the results at the Italian group’s third international roundtable on sustainability in Milan on March 26, 2019.
As per the survey, buyers expected to double their purchases of sustainable products over the next five years, raising it from 23 per cent of their total budgets to 42 per cent. A quarter of those surveyed had also stopped selling a brand or product that fell short on sustainability. What mattered most to store buyers was how a brand sources its fabrics, its transparency, and the treatment of workers at the factories making its clothes. They were ready to even pay a small premium for sustainable products.