Whilst most media publish news about the decline of spending on women's clothing - down an average of 4.1% per month in the first four months of this year - with negative innuendos, this could actually be a welcome shift for us and the fashion industry at large. Undoubtedly, the financial situation for most of us post-Brexit is difficult, and it may not get any better in the near future. But statistics also revealed we're actually spending more on the gym, restaurants and events.
The good thing about having to control your spending is that you become much more mindful, and establish priorities. If you have to choose between buying a new outfit or spending time having a drink with friends, what would you choose? Exactly! Experts in Retail Economics have actually identified this as a new consumer trend - the move to the "experience economy".
Unfortunately, some people still want a bargain and still shop brands with well known unethical behaviour just because it's cheap. But the overall decline on fashion sales may also indicate that the growing movement for fashion sustainability is beginning to bear fruit. Of the brands we have asked "Who Made may Clothes" a few weeks ago, none actually got back to us. So we won't buy from them again until they clarify where they stand.
Fast fashion is not sustainable and we all have the responsibility to change the current state of affairs. It's far better to shop quality instead of quantity, clothes last longer and we support ethical businesses along the way. There are also online platforms where people can trade second hand clothes, favoured by those under 30. Retail sales may be down but this may actually mean a greater awareness of waste and sustainability. Isn't this good news?