Black Friday Event









-        What do we mean with the term “overconsumption”?

Overconsumption is a situation where resource use has outpaced the sustainable capacity of the ecosystem. Excessive unsustainable consumption will exceed the environment’s long-term carrying capacity and it will lead to resource depletion, environmental degradation and reduced ecosystem health.

As of 2012, the United States alone was using 30% of the world's resources and if everyone were to consume at that rate, we would need 3-5 planets to sustain this type of living. With new consumer markets rising in the developing countries which account for a much higher percentage of the world's population, our concern must rise.

The most obvious solution to the issue of overconsumption is to simply slow the rate at which materials are becoming depleted. From capitalistic point of view, less consumption has negative effects on economies and so countries must look to curb consumption rates but also allow for new industries, such as renewable energy and recycling technologies, to flourish and deflect some of the economic burdens.

-        Black Friday

Black Friday, followed by Cybermonday, are intended to mark the beginning of the big shopping season, when some people start buying gifts for Christmas. Both days use heavy price discounting and special offers to trigger a sense of urgency and “exceptional opportunity” to consumers, triggering low cost, high volume impulse buying and – as a result – overconsumption of unnecessary goods. Because it is so cheap, fast fashion is one of the highest selling product categories on Black Friday, with many major fashion brands and retail giants jumping on the bandwagon.

1.      We asked out follower if they usually take advantage of Black Friday promotions: the majority of them…

2.      We also asked them if during Black Friday they tend to buy also unnecessary items just because of their price: the majority of them…

Black Friday and Cyber Monday might generate billions of dollars for businesses, but at what cost to the planet? The rise of fast fashion is projected to rise to $2.1 trillion by 2025. And where do the trillion dollars’ worth of fast fashion clothes end up? Landfill, where it sits for thousands of years, taking up space and contaminating the nature around it. How can we fight against hyperconsumption in an ever-restless society?

All this impulsive buying has led to an increase in waste, which is affecting our planet. For example, in a bid to remain on-trend and profitable, fashion retailers will quickly produce inexpensive clothes in mass numbers. These fashion trends can change within weeks, meaning that the consumer will need to buy clothes from their stores again to remain fashionable – if you have not already, check out The True Cost on Netflix to see the negative impact fast fashion has on the environment.

Greenpeace has shown that fashion production uses lots of precious fresh water and pollutes rivers and seas with toxic chemicals, long before it hits the shelves. We are consuming and trashing clothing at a far higher rate than our planet can handle. Fashion retailers have been speeding up the turnaround of fashion trends since the 1980’s, increasing the rate that we use and throw away clothes – the life cycle of consumer goods shortened by 50 percent between 1992 and 2002. Today’s trends are tomorrow’s trash!

We are told that clothes can be recycled, but second-hand markets are already overloaded with our unwanted clothes. In the EU 1.5 to 2 million tonnes of used clothing is generated annually, with only 10 to 12 percent of the best quality clothes re-sold locally and much of the rest likely to be exported to countries in the Global south. Some countries in East Africa, which currently import used clothing from Europe and the US, are considering restrictions to protect their local markets.

3.      We asked out follower if they think their attention about packaging and its sustainability tends to decrease during Black Friday: the majority of them answered...

Every year Fashion Revolution (FR) publishes a Fashion Transparency Index which ranks the leading 200 brands and retailers based on how much information they provide about their manufacturing and sales processes: only 26.5% of brands and retailers describe what they are doing to reduce the amount of unsold and defective stock! The Pulse of the Fashion Industry report claims that 4% of global waste, that is nearly 84 million tonnes, is generated by the fashion industry.

Cheap prices may seem appealing in the short term, but all of us as global citizens will ultimately end up paying the external cost, the true cost of the unsustainable consumption and production of cheap clothing based on the exploitation of raw materials, workers and the environment.

STATISTICS

1. In 2019, Black Friday beat Cyber Monday as the busiest online shopping day: 93.2 million shopped online on Black Friday vs. 83.3 million on Cyber Monday. (Source: National Retail Federation)

2. Amazon was the most-anticipated Black Friday ad in 2019 — despite the fact that it doesn't release an official Black Friday ad, just a list of deals. (Source: BlackFriday.com)

3. 50% of 2020 holiday shoppers say the sales offered over the last six months have lessened their interest in Black Friday and Cyber Monday sales this year. (Source: NerdWallet)

4. Electronics typically have the best deals on Black Friday, followed by home goods and home appliances. (Source: Nationwide.com)

5. On Black Friday 2019, more people shopped online than in stores — 142.2 million shopped online, while 124 million shopped in-store. (Source: National Retail Federation)

6. 65% of shoppers will choose to buy products online instead of in-store to avoid crowds in 2020, while 64% choose to purchase online for the comfort of shopping from home. (Source: Deloitte)

7. 66% of shoppers will increase their online purchases this year. (Source: Brightedge)

8. Online holiday spend will surpass $189B in 2020 — up 33% YoY. (Source: Adobe)

9. As consumers make the most of being at home, they plan to treat themselves to beverages (33%), food (30%), and clothes (30%). (Source: Deloitte)

10. In 2020, 42% of all online shopping is done from smartphones (up 55%), and $28B more than last year will be spent on smartphones. (Source: Adobe)

11. Millennials were the biggest Black Friday spenders in 2019, shelling out an average of $509.50 on Black Friday purchases, compared to an average of just $382.40 in 2018. (Source: PYMNTS)

12. 75% of all retailers are offering discounts before Black Friday, and many major retailers are reinventing Black Friday deals to last days ... or even weeks (including Home Depot and Walmart). (Source: Adobe)

13. 39% of consumers looked to emails from retailers for information on deals and promotions, and 38% used online search to find deals. (Source: National Retail Federation)