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.
             A rule in the United Kingdom that permits market makers to trade outside quoted ranges, when an exchange determines that market movements are so sharp that quotes cannot be kept current. The purpose of the fast market rule is to maintain an orderly market during a time of chaos. Under the rule, market makers must turn off their computerized trading systems, called black boxes. They do not have to quote share prices based on the London Stock Exchange's screen prices while the fast market is in effect, but they are still required to make firm quotes.

           Breaking down fast market rule, fast markets are rare and are triggered by highly unusual circumstances. For example, the London Stock Exchange declared a fast market on July 7, 2005, after the city experienced a terrorist attack. Share prices were falling dramatically and trading was exceptionally heavy. The fast market rule is made possible because circuit breakers are not used. Circuit breakers allow exchanges to temporarily halt trading during sharp price declines to prevent panic selling. With a circuit breaker, the sharper the decline, the longer trading is halted.

           McKinsey found that a culture of disposable fashion is proliferating in which retailers keep putting out greater volumes of inexpensive clothing. Consumers, attracted by the low cost and constant newness, are buying these clothes in greater quantities, and often wearing them only a handful of times before discarding them. This fast-fashion ecosystem uses large amounts of natural resources while producing carbon emissions that fuel climate change. It has also been linked to numerous cases of worker abuses in countries sewing the garments.

“In five large developing countries—Brazil, China, India, Mexico, and Russia—apparel sales grew eight times faster than in Canada, Germany, the United Kingdom, and the United States,” the report states.

         I hope I gave the right meaning to this, I just read about it and put down what I got. Well, my information to this worked. I will be blogging again next time, bye bye. 

(picture cred. https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwiwyeCBx5zQAhVDQBoKHRDOBM0QjRwIBw&url=http%3A%2F%2Fwww.keoneulaes.org%2F04ff35-fast-fashion-clothing-fashion-women&psig=AFQjCNE8liI7N6gS8jHlaB4tkf_OEYcqlg&ust=1478811143251498 )