Citing new data on the growing plastic pollution problem, California-based not-for-profit group As You Sow has filed shareholder proposals with 10 leading consumer goods companies and retailers, calling for commitments to absolute cuts in the use of plastic packaging.
New data from global CRM company Salesforce shows a 50% increase in digital spend when compared to the 2019 shopping season, making 2020 one of the biggest digital holiday shopping seasons to date. Consumers spent $1.1tn online worldwide, compared to $723bn worldwide in 2019.
A massive force is reshaping the fashion industry: secondhand clothing. According to a new report, the U.S. secondhand clothing market is projected to more than triple in value in the next 10 years - from $28bn in 2019 to $80 billion in 2029 - in a U.S. market currently worth $379bn. In 2019, secondhand clothing expanded 21 times faster than conventional apparel retail did.
Hyejune Park and Cosette Marie Joyner Armstrong 11 Jan 2021
Despite the dissemination of vaccines in the months ahead and as expectations of more normal behaviours edge closer, a larger portion of consumer spending will be impacted by recessionary conditions in most countries where Covid-19 leaves a trail of high unemployment, lower confidence levels and economies that will take years to fully recover.
Ailsa Wingfield 11 Jan 2021
