Can Technology Eliminate Fashion’s $500B Overproduction Problem? The fashion industry is one of the most wasteful industries in the world. Globally, the industry creates 13 million tons of textile waste each year

What consumers may not be aware of is that 35% of all materials in the supply chain end up as waste before a product even reaches a customer. Some of this is cutting waste, unusable stock due to last-minute design changes, or spoilage in transport. However, the largest contributor to waste is excess inventory that does not sell on the retail market. Among 150 billion garments produced per year on average, only 20% to 30% sell at full retail price, and only 40% to 50% sell at a discount. Thirty percent do not sell at all and go straight to a landfill or incinerator.

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Submitted December 19, 2022 at 03:40AM by Chatree235 https://ift.tt/YvXsBcy