Farfetch Releases Its First Conscious Luxury Trends Report to Help Customers Shop More Responsibly
With brands and retailers of all sizes making strides toward sustainability, multi-label luxury site Farfetch is upping the ante.
Today, the high-end e-tailer released its first annual Conscious Luxury Trends Report as a way to reflect on consumer shopping habits and identify whether customers are actually shopping responsibly with the current options on the market. To help shoppers make more informed purchases, Farfetch also updated its Fashion Footprint Tool, which breaks down the impact a consumer's new designer item has on the environment.
So what exactly does the full report entail? For starters, the retailer established a set of "independently backed" standards, or conscious criteria, to help both customers and brands understand what they classify as sustainable. The fully fleshed-out list includes everything from products made of eco-friendly or desirable materials to brands that have high scores with ethical rating agency Good on You. Ultimately, with its report, Farfetch's goal is to get all subsections of the industry thinking about what it means to be truly conscious and set a new precedent to eliminate any disparities.
"As a platform for the luxury industry, we are uniquely positioned to enable positive change in many different ways," José Neves, founder, CEO, and chairman of Farfetch explained. "We want to be the platform for good in luxury, one that enables and empowers everyone from our brand and boutique partners and customers, to the broader luxury sector to think, act and choose positively."
The report found that while 2020 was absolutely the year of online shopping, due to the pandemic, customers are now, more than ever, likely to buy more sustainably. However, what sets Farfetch's research apart from other reports about sustainable fashion is that while the luxury e-commerce site has narrowed down the details of major concerns of fashion's impact on the planet, it's offering its own set of solutions, too, from current changemakers in the industry—so you know exactly where your money is going.
For those who want to do a deep dive into its findings, you can read Farfetch's Conscious Luxury Trends Report in its entirety here.
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