Updated: Jul 4, 2020
Over the years and with the advancement of technology, the fashion industry has seemingly been on a decline in the eyes of some consumers as more and more people are becoming environmentally conscious and prefer functional clothing to that which is aesthetically pleasing.
However, despite what it seems, the fashion industry has been on a steady growth rate averaging around 4% annually since 2013 with a further expected annual increase of roughly 11% from 2019 to 2023.
Despite popular belief, the rise of technology has not crippled the fashion industry but rather assisted in its increasing demand with social media playing the biggest role as we have seen in recent years with the rise of influencers. Technology has also allowed for faster production in larger quantities at a lower cost in comparison to the past.
With over 150 billion garments produced annually, it is safe to say that the fashion industry isn’t dying but rather, it is killing us the consumers by overproduction thus leading to an increase in pollution.