Will the cost of living crisis cause a lifestyle overhaul and push us back to fast fashion?
All the essentials are increasing in price, from fuel, energy and food, but what about non-essential items?
Clothing and shoe prices are also on the incline but we will have to reconsider our other everyday luxuries and lifestyle choices – saying no to that MAC lipstick in favour of trusty Maybelline and home-made breakfast over a coffee-shop trip that’s becoming too frequent to be called a ‘treat’.
Consumers will have to decide what is top priority as we’re pushed back down our hierarchy of needs to its baseline.
With all good intentions many consumers had been turning to more sustainable options over the last few years to halt fast fashion and climate change but with the cost of living disproportionate to incomes, and poorer households feeling the highest inflation, are we headed straight back into the flimsy arms of fast fashion?
Being cheap is costing an already waning earth but how do you weigh up a sustainable jumper with heating your home?
A catch 22 situation with more questions than answers. Unfortunately the current cost of living means many are living in a fight or flight situation.
Sometimes there’s just no room for considered luxuries, only for need-nows and bare necessities. It seems a positive forecast is that the crisis will leave us threadbare and out of trend while the negative is probably much closer to reality.
Based on the data from the office for national statistics, the gap between the rich and poor is at its highest in a decade so clearly not everyone will be making savvy swaps.
The top one percenters represent 263,000 households in the UK, so shouldn’t more people be looking for a solution to offer financial relief for struggling households?
This would help UK residents to thrive, not just survive.