Image via @marni on Instagram Are retailers focusing on sustainable options to move excessive inventory? Fashion merchandising can be tough especially with styles losing trend as quickly as they were gained. This results in over-ordered clothing that remain unsold or are marked down to margin-killing prices.  Retailers have been trying to traverse through these ambiguous times due to the pandemic, but they’re now facing a new problem: excessive amounts of unsold inventory. Moving inventory has become increasingly difficult with month-long closures of in-store shopping, resulting in severe financial, operational, and scheduling complications. Permission to open stores during the holiday season began to bring some hope to retailers, but soon after came months of closures which regressed any progress made with their inventories. Apparel retailers are struggling to move an overload of spring 2020 clothing in order to make room for this year’s collections. Are there sustainable solutions for this issue? Absolutely! Through research, we’re finding that retailers are being given opportunities to sell, repurpose, or recycle last season’s collections without sending excessive inventory directly to the landfills. Image via @linmick on Instagram Donate, donate, donate. The pandemic has brought on a lot of unpredicted needs and amplified others. The need for clothing has increased significantly because of pandemic restrictions and outbreaks in shelters, which resulted in many people being forced to sleep outdoors and embrace the weather. Retailers can identify community needs and donate as they see fit, anything helps! Along with helping the community, also helps retailers reach sustainability goals and reduce waste. donating unsold inventory Recycle, upcycle or repurpose! Post-consumer textile recovery initiatives are taking unsold products made of cotton, poly-cotton, and polyester and are discovering new ways in which they can be repurposed or sustainably recycled. Repurposing and recycling helps move excess stock, while maintaining sustainability and reducing waste, which then leads to less waste going to landfills or being incinerated. This is the definition of “using less while doing more,” the key to an effective . waste hierarchy Pack it up for a future "last season" sale! Instead of wasting perfectly good clothing, retailers are getting organized and sorting unsold merchandise into categories for when the appropriate season comes around again. For example, this season’s winter clothes will be sold at a significant discount next winter. Sounds like a win, win to us! Future inventory savings will cancel out the cost of having to store the unsold garments because they will simply be resold instead of bringing in all new stock. Sell excessive inventory to off-price retailers. In North America, off-price retailers are a predetermined destination for excess merchandise. What you probably didn’t know is that these large department stores help reduce a ton of waste by purchasing last season’s clothing or stock that retailers deem unsellable. It’s possible that in the future more and more retailers will turn to off-price companies to handle their excessive inventory left over from the pandemic. There is a downside to this route. The majority of these off-price retailers don’t have any e-commerce capabilities, so in the event that another lockdown occurs, they will be stuck with the same issue other retailers face. Gif via @reubenarmstrong on Giphy What happens now? A recent study predicted that there is around $160 – $185 billion globally of excess merchandise from spring 2020 apparel collections. That’s more than double from previous levels.  This much excessive inventory can result in multiple production disturbances, such as delays in shipping, unforeseen technical issues, returns and more. Trends in the market obviously come into play when dealing with this issue as well. Retailers don’t want to be selling discounted winter clothing in April, but with planning and creativity this merchandise doesn’t have to go to waste. Gif via BTS "Spring Day" MV The future of the fashion retail industry is still difficult to predict with continued waves of the pandemic. However, right now is crucial for everyone in all corners of the industry to have a plan in place and prepare for the unexpected. Let’s not let last season’s puffer coat get in the way of a sustainable future in fashion!

Waves

Instagram

Sustainable Clothes Made From Recycled Plastic

The Microfiber Problem: How Washing our Clothes is Polluting the Ocean

Nominated for 2022 - HackerNoon Contributor of the Year - Innovation

Nominated for 2022 - HackerNoon Contributor of the Year - Facebook

Nominated for 2022 - HackerNoon Contributor of the Year - Ethics

Nominated for 2022 - HackerNoon Contributor of the Year - Metaverse

Nominated for 2022 - HackerNoon Contributor of the Year - Crypto Adoption

Too Long; Didn't Read

What Retailers Can Do with Excessive Inventory Pile Up from the Pandemic

What Retailers Can Do with Excessive Inventory Pile Up from the Pandemic

About Author

Comments

TOPICS

THIS ARTICLE WAS FEATURED IN

Related Stories

4 Fashion Brands That Included Smart Vending Machines In Their Marketing Strategy

2100: A Global Warming Odyssey

3 Million Face Masks Per Second: Where Do They End Up?

49 Stories To Learn About Environment

5 ways you can help save the planet in 2018

8 Unsolved Carbon Markets' Problems That Engineers Need To Get Behind And Solve

4 Fashion Brands That Included Smart Vending Machines In Their Marketing Strategy

2100: A Global Warming Odyssey

3 Million Face Masks Per Second: Where Do They End Up?

49 Stories To Learn About Environment

5 ways you can help save the planet in 2018

8 Unsolved Carbon Markets' Problems That Engineers Need To Get Behind And Solve

Light-Mode

Classic

Newspaper

Minty

Dark-Mode

Neon Noir

Minty

HN StartUps