In the past decade, the clothing industry has been booming based on faster and cheaper fashion. Cotton was at the center of this fashion boom because of its quality and low price. However, cotton prices have doubled in the past year, which is not good news for fashion-fanatics or casual clothing shoppers.
Most clothing companies are planning to increase their prices by the end of this year. Passing the price increase on to the consumer will not be a sustainable solution to sustain their current business model. Is this a temporary mismatch between the supply and demand? On closer inspection, the crisis seems to be related to multiple factors. These include flooding caused by weather change, reduced land space due to increase food crops, and water shortages.
Thoughtless consumerism produces excess waste and environmental pollution. These macro-effects are threatening a day-to-day need – affordable clothing. It’s time for us to think about sustainability unless we are prepared to pay a fortune for underwear and T-shirts in the near future.