I´m just going to say it: the fast fashion as we know it is dying. The rumors have been there for some time but know we are starting to see the first signs of the fundamental shift in the fashion world.
The truth is that fashion is only adapting to the changing consumer. Younger consumers are craving new and more sustainable ways to shop. Business of Fashion explains: “In more and more categories, consumers are choosing to rent rather than own goods outright. Think of Spotify supplanting CD sales and downloads, Netflix replacing video stores and ZipCar standing in for car ownership among many young urbanites,” a group of writers wrote in the State of Fashion report for 2019.
One of the first fashion brand to respond to this trend is the company American Eagle. They have launched a rental subscription service for clothing called “American Eagle Style Drop”. Let me show you the business model for this rental service:
In a month you can rent up to three items at a time and have an infinite number of exchanges. For which you pay $49,95 a month, like a “subscription”. There are no additional costs because shipping costs are included and even dry cleaning service is free. If you like the piece of clothing so much that you decide to like it you are able to purchase the item at 25% or more discount. So far, the reactions have been very positive…
I totally understand the need for a more sustainable way of consuming clothes. However, I personally feel very hesitant to having a subscription on a clothing brand and let me tell you why. I have always felt that it is very difficult to keep track of subscriptions (which we millennials often have many of). How much do we actually spend each month on subscriptions? I have no idea what I am spending.
Moreover, I think it is weird to have a fixed cost for clothing each month. When I don’t have as much money to spend a certain month I always quickly cut down on my spending on clothing.
And you know; you’re also restricted to three items from one clothing brand each month. Unless you want to have more than one subscription of course.
But hey! That’s only my opinion. Would you like to have a subscription to a clothing brand? Do you think this trend will continue? Let me know what you think!