H&M appears to be the most well-liked fast fashion retailer in terms of foot traffic, per data collected by SafeGraph. H&M averaged 52,000 monthly visits from October to December 2021, followed by Zara with 19,600 and Forever21 with 10,600. During the holiday season, over 70,000 people visited H&M. From January to June 2022, H&M had an average monthly foot traffic of about 38,000 visits. Meanwhile, both Zara and Forever21 had a progressive slide, with average monthly visits of 13,500 and 9,000, respectively. In July, a historically slow month for retail since people are busy saving for the year-end holidays, all three companies hit their lowest marks. From August until October, however, all three retailers have continued seeing a steady decline in their in-store shoppers.
Although retail has its fast and slow months, we can’t rule out the possibility that such a significant decline in foot traffic might have to do with a shift in shoppers’ spending predilections. And the new trend that millennials and Gen Z are moving toward is sustainability and accountability, a 2021 Deloitte survey shows. In fact, young consumers are more eager to position themselves on critical issues regarding society, the environment, and politics. A 2000 McKinsey study also noticed a significant shift in consumers’ sentiments towards sustainability post-pandemic lockdowns. More than 60% of customers polled said they don’t mind going out of their way to recycle, while 57% reported significantly changing their lifestyles to reduce their environmental effects. Affordability and convenience remain the fundamental motivators in consumer purchasing decisions, but the desire to protect the environment is becoming a bigger factor.
