The socio-economic model is defined as the relationship between the social and economic habits of a large group. The economic value comes from the perception of the value of the product. As we have been able to increase the quantity and availability of clothing, the perception of value has declined. Fast fashion is not viewed by the public as craftsmanship or artisan skill but rather as another product of mass production. Social value is engaging people to understand the impact of policies or processes within a large grouping. This can be applied to such things as healthcare, access to schooling, and the right to equality, it is a measure beyond profit. In the social scope of a society, the values are outlined as justice, freedom, respect, community and responsibility.
As an industry that affects the environment on a global scale, the social value of consumers has input on the future. To achieve a sustainable fashion and textile industry, a priority is to be placed on the balance of social values with economic factors. For this to occur the perception of value within our culture must shift. To reduce purchases, pay more for high-quality products and wear the same clothes longer, the cultural attitude, understanding and awareness of the construct of the industry must shift. This is a large task, to shift cultural behaviour on a global scale, especially considering how long we have been fighting for causes of basic civil equality.
We know how to reduce carbon emissions, but will we have the driving force behind cultural adaptation. In times of war civilisations rations their resources, in times of economic despair, households scrounge and sacrifice. But shopping has become so ingrained in the first world lifestyle, as it is with other activities that offer a mental or emotional satisfaction, the same can be said of other activities such as going to the gym, surfing, going to the movies, eating out or enjoying a wine and cheese platter. When means vary, we do what we can rationalise to suit our lifestyle. We cannot dictate to others how to use their means anymore than we can change the mindset of another person. The question then becomes, how do we shift a culture. How do we ask would you like to spend less money and receive more or spend the same amount but receive less? With shopping hauls all over social media showing the vast gains from offshore suppliers like Shein or Temu, it’s too easy to buy more. That’s not to mention the multitude of shipments than are bought by brands and resold at a higher margin with a new label. This is so common, because we all want to pay less but make more. This influx is not standing alone in the fashion industry, but rather determined as a reaction to the cost of living versus wage pay growth over the last 20 years. The rising costs of land, property, interest rates, cars etc… has grown at a faster rate than the average pay increases. This leads to more competition for households’ disposable income. With shoppers able to compare styles and brands to get the best deal from an oversaturated international market, it is no surprise that companies would aim to reduce overheads to ensure the cost of goods (COGS) in running a business remain in profit. This is why so many brands that may have once been local are now operated overseas. If you are reducing retail prices to secure customer growth then your cost of operations must reduce in order to make a profit. To shift the culture, we are asking for voluntary sacrifice from those with means to support those without. That their values shift in line with the social responsibility and preservation of the environment.