DEFINITION of 'Fast Fashion'
The term “fast fashion” refers to a phenomenon in the fashion industry whereby production processes are expedited in order to get new trends to the market as quickly and cheaply as possible. As a result of this trend, the tradition of introducing new fashion lines on a seasonal basis is being challenged. Today, it is not uncommon for fast-fashion retailers to introduce new products multiple times in a single week.
BREAKING DOWN 'Fast Fashion'
Fast fashion is made possible by innovations in supply chain management among fashion retailers. From the perspective of retailers, fast fashion is advantageous because the constant introduction of new products encourages customers to make frequent visits to stores. Yet despite its advantages for customers, fast fashion has also been criticized on the grounds that it encourages a “throw-away” attitude among consumers. The trend has also been criticized on intellectual property grounds, with some designers alleging that their designs have been illegally mass produced by retailers.