Fashion Segments Employ Distinct 'Creating Shared Value' Strategies
Luxury, fast, and slow fashion brands approach 'creating shared value' (CSV) with unique strategies, despite a common focus on sustainability and waste reduction within the EU.
Equilibrium Quarterly Journal of Economics and Economic Policy · 2023
Key Findings
- 01All three fashion segments (luxury, fast, slow) consider sustainability and waste reduction as key components of their CSV strategies.
- 02Each segment employs distinct strategic approaches to CSV, leading to questions about the long-term sustainability of these differing methods.
- 03There is a notable overlap in CSV considerations across these segments within the EU context.
Application
Design takeaway
Tailor 'creating shared value' initiatives and communications to align with the specific strategic priorities and market perceptions of luxury, fast, or slow fashion segments.
How to apply
When developing new fashion products or brand strategies, analyze whether the target segment is luxury, fast, or slow fashion, and then design CSV initiatives that align with that segment's typical approach to sustainability and value creation.
Project actions
- 01When researching a product, consider how its target market segment influences its sustainability claims.
- 02Analyze the communication strategies of brands in different fashion segments regarding their social and environmental impact.
Method & Evidence
Variables
Strengths & Limitations
Strengths
- +Utilizes a robust triangulation methodology for comprehensive analysis.
- +Addresses a timely and relevant issue within the fashion industry.
Limitations
The verification of 'genuine' CSV claims can be difficult without direct access to internal company data. The study focuses on the EU, so findings might differ in other regions.
Reliability & validity
The use of triangulation (content analysis, observation, Delphi) enhances the validity of the findings. Reliability would depend on the consistency of the Delphi method and the objectivity of the content analysis.
Think critically
To what extent do the 'distinct strategies' employed by different fashion segments genuinely contribute to long-term sustainability, or do they primarily serve as marketing tools?
Design Principles
"Segmented Value Creation: Design and implement value creation strategies that are tailored to the distinct characteristics and market expectations of different industry segments."
Understanding these varied CSV approaches is crucial for market positioning and stakeholder engagement. It allows businesses to tailor their sustainability narratives and operational strategies to resonate with their specific market segments and regulatory environments.
What This Means for Your Design
Different types of fashion brands (fancy, cheap/trendy, and eco-friendly) all say they care about the environment and waste, but they do it in different ways. We need to figure out which way is actually going to work best in the long run.
How to use in your project
- 1.Use this research to justify the selection of a specific market segment for your design project and to inform your approach to incorporating 'creating shared value' principles.
Add to My Project
Quick Cite
(2023). Luxury, slow and fast fashion: A case study on the (un)sustainable creating of shared values. Equilibrium Quarterly Journal of Economics and Economic Policy. https://doi.org/10.24136/eq.2023.026 Retrieved from https://designdex.org/study/ac57c5db-1f0f-437e-8b11-fd567367f98d/fashion-segments-employ-distinct-creating-shared-value-strategies
Paragraph starter
This research highlights that different fashion market segments, such as luxury, fast, and slow fashion, adopt distinct strategies for 'creating shared value' (CSV), despite a common emphasis on sustainability and waste reduction within the EU. This segmentation suggests that design and marketing efforts should be tailored to the specific CSV approaches prevalent in the target market segment to ensure relevance and impact.
Source
Equilibrium Quarterly Journal of Economics and Economic Policy
Luxury, slow and fast fashion: A case study on the (un)sustainable creating of shared values
journal · 2023
View sourceQuestions about this research
- What does the research say about fashion segments employ distinct 'creating shared value' strategies?
- Tailor 'creating shared value' initiatives and communications to align with the specific strategic priorities and market perceptions of luxury, fast, or slow fashion segments. Evidence: Equilibrium Quarterly Journal of Economics and Economic Policy (2023).
- Why does "Fashion Segments Employ Distinct 'Creating Shared Value' Strategies" matter for design?
- Understanding these varied CSV approaches is crucial for market positioning and stakeholder engagement. It allows businesses to tailor their sustainability narratives and operational strategies to resonate with their specific market segments and regulatory environments.
- How can designers apply this research?
- Tailor 'creating shared value' initiatives and communications to align with the specific strategic priorities and market perceptions of luxury, fast, or slow fashion segments.
- What were the main findings?
- All three fashion segments (luxury, fast, slow) consider sustainability and waste reduction as key components of their CSV strategies.. Each segment employs distinct strategic approaches to CSV, leading to questions about the long-term sustainability of these differing methods.. There is a notable overlap in CSV considerations across these segments within the EU context.
- What research method was used?
- Qualitative research using a multi-stage reflective triangulation approach, including content analysis, empirical observation, and a Delphi method. with 30 businesses.
- How strong is the evidence?
- Evidence strength is rated Moderate effect, based on a 2023 journal from Equilibrium Quarterly Journal of Economics and Economic Policy.
- What should I do differently in my next project?
- When developing new fashion products or brand strategies, analyze whether the target segment is luxury, fast, or slow fashion, and then design CSV initiatives that align with that segment's typical approach to sustainability and value creation.
- What are the limitations?
- The study's findings are specific to the EU framework and may not be directly generalizable to other regulatory or cultural contexts. The 'genuineness' of CSV claims can be subjective and challenging to definitively verify.
- Is there evidence that creating shared affects design outcomes?
- Fashion brands across luxury, fast, and slow segments all acknowledge sustainability and waste reduction, but they pursue these goals through different strategic pathways, raising questions about which approach is most viable long-term. Understanding these varied CSV approaches is crucial for market positioning and sta Source: Equilibrium Quarterly Journal of Economics and Economic Policy (2023).
- Where does this fashion segments research apply?
- Fashion industry within the European Union It sits within innovation & markets research on designdex.org.
Related research topics
creating shared design research · evidence on creating shared · does creating shared improve design outcomes · fashion segments studies for designers · creating shared and fashion segments findings · innovation & markets research evidence