PESTEL Analysis POLITICAL Impact of the pandemic on the e-commerce industry. ENVIRONMENTAL Ethical manufacturing (fast fashion scandals push interest to ethically reliable companies) Rise in awareness of waste issues in general as well as the waste generated by the fashion industry LEGAL Counterfeits and importance placed on the authentication process to reassure the customers.
ECONOMIC Re-sale vs Retail prices. Low salaries of incoming generations: Gen Z and Millenials are the most interested in resale but the average millennial has experienced slower economic growth since entering the workforce than any other generation in U.S history. Continued rise of “Buy now, pay later” purchasing. These types of services, such as AfterPay and Affirm are showing huge growths in usage and interest. TECHNOLOGICAL Rise in interest in e-commerce due to the pandemic. Online sales are expected to continue growing and hit $6.388 trillion – nearly twice that of 2019’s total ecommerce sales. Introduction of AR and VR dressing room experiences
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