Measuring the State of Circularity in the UK Fashion Industry
Part 2
Executive Summary
24
Introduction
Part 3
Conclusion
Part 1
Repair, replenish, revive Fixing or refurbishing damaged or worn-out items to extend their lifespan and prevent them from being discarded.
The numbers at a glance
Presence within retailer market 36%
53%
Proportion of initiatives in pilot phase
25%
Proportion of retailer customer base accessing initiatives
62%
Proportion of initiatives accessing third party support
Revenue and number of customers
Most tracked KPIs
Marketing and PR Support
Most frequently accessed support
Credit: Huishan Zhang
Existing initiatives demonstrate a stronger presence of repair in the premium and luxury market. Retailers are keen to further set up and scale up repair initiatives, but to do this, they must overcome the barriers of limited revenue streams and low customer demand.
In luxury and premium markets, repair is additive to business models and drives sales conversions by enabling high-cost items to ‘last a lifetime’. In these markets, repair is often a mature proposition pre-dating sustainability. But in mid-value markets, repair is less common and less effective – due to lower item average selling prices (ASPs), repair is often seen as ‘not worth it’ by customers and retailers alike. With many repair initiatives in early pilot stages of development, there are few plans or resources in place to scale operations. Despite this, repair has the highest proportion (25%) of customers accessing initiatives out of all customer-facing circular business models.
Credit: ERDEM
Made with FlippingBook - Online catalogs