According to McKinseyâ€™s 2019 Chief Purchasing Officer (CPO) survey, sustainable sourcing at scale is the fashion industryâ€™s new must-have. As government leaders and policymakers worldwide continue to focus on social and environmental sustainability, fashion is doing the same. Consumer demand for sustainable fashion continues to grow â€” with a 5x increase in the number of sustainable fashion products launched over the past two years.
Apparel companies reported sustainable materials, transparency and traceability and supplier relationship at the top of their supplier agenda. The survey also noted how the current trade tensions are accelerating U.S.-based companiesâ€™ actions to shift away sourcing from China â€” and another reminder why companies must get serious about sustainability.
For additional information on the fashion industryâ€™s outlook and plans for sustainability, read McKinseyâ€™s 2019 survey here.