Consumer behaviour has changed significantly in 2020 and consumers are now choosing to shop more consciously.
This was distinctly revealed in Farfetch’s maiden annual Conscious Luxury Trends Report.
The British clothing e-tailer, in its report, said that the sale of conscious products has risen 3.4 times faster than the marketplace average over 2020.
Another notable aspect has been that traffic to conscious pages on Farfetch.com too jumped by 4 times year-over year (Y-o-Y).
Besides, there’s been significant surge in using sustainability filter to find responsible brands. There is more consumer awareness, says the report.
Speaking of consumer awareness regionwise, the reports showed that Mexico witnessed robust growth in conscious shopping across the globe – Y-o-Y rise of 341 per cent in Conscious GMV 2019/2020. Notably, Asian countries too exhibited a forward-thinking approach to brands.
The e-tailer also said that circular fashion initiative has been resonating well with consumers – its Second Life resale service jumped 527 per cent Y-o-Y.
Similarly, its donations service too rose by a whopping 662 per cent.
Farfetch also simultaneously unveiled an improved version of its Fashion Footprint Tool, in partnership with IOF.earth, wherein consumers can understand the impact of their fashion choices.
The tool also helps consumers see the potential environmental savings of adding pre-owned purchases into their wardrobes.
Surge in consumers shopping responsibly is something positive in these turbulent times.
