But is it possible to escape our attraction to fast fashion? And will crossing these items off your shopping list make things better or worse? Fordham experts weigh in.

Human Rights Abuse

“People get excited about the $2 T-shirt” and don’t think about the impact on factory workers making the clothing, said Susan Scafidi, director of the Fashion Law Institute at Fordham.

Catastrophic garment factory fires and forced labor charges against China’s cotton industry have brought attention to human rights abuses, and even resulted in Congress passing the Uyghur Forced Labor Prevention Act in 2021, which banned imports from businesses in Xinjiang, China, that use forced labor. Paltry wages for field and factory workers, the majority of whom are women, are another well-known concern.

“Labor is one of, if not the most, expensive inputs in fashion,” Scafidi said, but ”when it comes to making fast fashion, it has to be cheap, cheaper, cheapest.”

Tik Tok Temptation

Younger consumers, mainly Gen Z and Millennials, are at the forefront of the demand for fast fashion, heavily influenced by social media and desire for the latest styles, said Fordham economist Giacomo Santangelo. 

“Platforms like TikTok are pivotal in shaping fashion choices,” he said. “This constant exposure to new styles and the desire for instant gratification lead to frequent buying, fueling the fast fashion market.”

Fast fashion brands’ low prices make their products broadly accessible, he said, noting that their affordability is especially appealing because of the state of the global economy and the desire to save money during the holiday giving season. Demand is also fed by the convenience and proliferation of fast fashion e-commerce sites, he said. 

Environmental Impact: ‘A Global Crisis’

That demand for fast fashion is also impacting the planet, due to overseas factories’ carbon emissions and water pollution, as well as all the products that end up in towering landfills, according to environmental watchdog organizations.

Clothes are being cast aside more quickly and in greater quantities than ever. Donated items from countries including the U.K., the U.S., and China are sold to vendors in places such as Ghana, which has one of the world’s largest secondhand clothing markets. But because these markets can’t handle the volume, many items are never worn again and end up in landfills or rivers. 

Meanwhile, garment factories continue to pollute rivers with toxic dyes and use tremendous amounts of fossil fuel for production and shipping across the world, according to the watchdog groups. And much of fast fashion relies on synthetic fibers made from plastic derived from crude oil and natural gas.

“There is a vast amount of waste and climate impact,” Scafidi said. “It has become a global crisis in that way.”

The Flip Side

But solutions to the problem are not as simple as they may seem. For one thing, fast fashion employs and supports the global poor and fuels developing economies, said Matthew Caulfield, Ph.D., assistant professor of ethics in the Gabelli School of Business.

“Most Americans—even Americans one would typically consider to be lower income—are nonetheless, by purchasing power standards, considered to be part of the global rich,” he said, adding that a single adult earning $24,000 per year makes more than seven times the global median.

“This is not to say that [fast and cheap production]is an unmitigated good—there are environmental concerns—or that the companies themselves have unassailable practices,” said Caulfield. “It’s only to suggest that one intuition that often seems entirely clear (that buying local is ethically superior) is not entirely clear. There are trade-offs we must navigate.”

Plant-Based Meat. Garrett Broad, Ph.D., assistant professor of communication and media studies and author, More Than Just Food (University of California Press, 2016)

There has been tremendous growth in the plant-based food sector over the last several years, and there are a number of reasons why 2018 could be the biggest year yet for this emerging market. First and foremost, concerns about health, the environment, and animal welfare have led to increased public demand for plant-based alternatives to meat and animal products that are tasty, affordable, and convenient. At the same time, there has been an explosion of entrepreneurial initiative and innovation, as well as organizing and advocacy, in an effort to get these products in stores, restaurants, and other food service locations across the country and around the world. The meat industry has certainly taken notice—some companies are concerned about the threat that plant-based products represent to their bottom line, but others are actually investing in plant-based foods to get in on the action at this early stage.

Protest Demonstrations. Heather Gautney, Ph.D., associate professor of sociology and budget committee advisor to Sen. Bernie Sanders (I-Vt.)

In 2018, look for large-scale demonstrations and targeted protest activity outside the White House and in the halls of the U.S. Capitol, especially over immigrants’ rights. Following last year’s Women’s March, there remains a core group of women activists who continue to organize. A few months ago they put on a large-scale conference, and have an ongoing, committed project of movement-building around women’s issues.

[And] there are lots of ways for people to protest besides tens of thousands of people assembling in the street. On immigration round-ups and the issue of sanctuary cities, I think there may be widespread local demonstrations and acts of mass disobedience—protecting people from being taken away. There are all sorts of micro forms of resistance that can take place within communities. When the health care debates were happening in Washington D.C., when demonstrators where showing up at town hall meetings and shaming their congressmen and senators, I think that made a substantial impact on what happened to the outcome.

Internet Service. Olivier Sylvain, associate professor of law and director, McGannon Center for Communications Research

Now that the Federal Communications Commission has repealed “network neutrality” regulations that prohibited internet service providers like Comcast and Verizon from privileging some content over others, we will all want to closely monitor the quality of our internet service.  The FCC Chairman claims that the prior rules made it difficult for providers to invest in novel new services.  Those rules, however, barred service providers from exploiting their coveted gatekeeping market position to discriminate against disruptive competitors; they prohibited, for example, providers from making it costlier for then-emergent start-ups–with names like Amazon and Netflix–to become market-makers in video distribution.

Now that network neutrality is gone, we should keep our eyes on the quality of video on Amazon and Netflix.  We should also watch for subscription fees increases for those services.

Mergers and Acquisitions. Sris Chatterjee, Ph.D., professor and chair of global security analysis finance and business economics, Gabelli School of Business

2017 has been a very good year for M&A. With the economy continuing to show strong fundamentals and the new tax law, 2018 is most likely to continue this upward trend in merger activity.

FinTech and digital technology represent a major disruptive force that will shape many mergers in 2018. We have already started to see this trend in 2017 when many companies across different industries outside the tech-sector acquired firms with the desired digital capabilities. This trend will also continue in 2018. Acquisition of American or European companies with an established brand name and market by firms in China, India and other non-Western countries has been another feature of M&A activity in recent times. This is also likely to continue.

These positive aspects of a stronger M&A outlook in 2018 need to be balanced against other factors that may have a restraining effect. The first factor that comes to mind is the effect of the U.S. government’s decision to block the AT&T-Time Warner merger. AT&T is fighting this decision in court and the outcome will have an important effect on M&A activity in 2018. The second factor to consider is that market multiples are already high, perhaps too high in light of meager growth. This, coupled with the high average premium that we witnessed in 2017, means that deals, on average, are going to be pricey.

Vatican Fashion. J. Patrick Hornbeck, Ph.D., associate professor of theology and department chair

Of late, the fashion world has been demonstrating increasing interest in things religious: consider, for instance, Alexander Wang’s 2016 show at St. Bartholomew’s Church on Park Avenue. But the Costume Institute of the Metropolitan Museum of Art will take this trend a step further with its 2018 exhibition, “Heavenly Bodies: Fashion and the Catholic Imagination.” The exhibition pairs liturgical and ceremonial vestments and artworks from the Met collection with designer garments inspired in some way by Catholicism. Traditionalist Catholic groups have sometimes responded with alarm to artistic displays that appear to mock or satirize their faith. The new Met exhibit (which opens in May) may encounter resistance from such quarters, but local Catholic leaders were consulted in the planning process. And the Vatican itself loaned more than 50 of the pieces that will be on display. In the end, the Met may more than anything else showcase the manifold ways in which the Catholic tradition continues to inspire artists of all stripes.

Historically Black Colleges and Universities. Shannon Waite, Ed.D., clinical assistant professor in the Graduate School of Education

In 2018, I predict that Historically Black Colleges and Universities (HBCUs) will become more diverse and that the conversation will broaden from being focused on race and ethnicity to include socio-economic status.  I would pay attention to how the cuts to programs and initiatives that indirectly support HBCU’s and/or the students they serve impact the student’s access to higher education. I also expect the conversation about whether these institutions can continue to fulfill the role they have historically played and remain viable options for the demographic of students they traditionally serve to become more prominent.  I expect questions about whether HBCUs still have a place in our society today to become a part of the conversation that will spark a national debate.  Finally, I would pay attention to how the current administration responds to the criticism that the commitment made to bolster HBUCs has not been honored.

Bitcoin. Giacomo Santangelo, Ph.D., senior lecturer of economics

Much like international currencies, people trade Bitcoin to exploit arbitrage opportunities (buy low, sell high) in the market. However, today the bitcoin has more in common with Beanie Babies from the 1990s than with international currencies. The market for Bitcoin is being driven by speculation, not investment. Speculators buy an asset, often taking huge risks, in the hopes of making ’a quick buck.’ It would have been ill-advised to invest your retirement in Beanie Babies or Pokemon cards in the 1990s; although, at the time, you could make fast money buying/selling on eBay . . . until you couldn’t. Whether Bitcoin will eventually settle at $20k, $1 Million, or $1, the volatility of the recent weeks indicates that when speculators lose interest in Bitcoin, the bubble will burst. The bitcoin will only continue to have ‘value’ if people continue to believe it has value. At the moment, people have no rational reason to do so. It is unlikely Bitcoin will continue a meteoric rise, uninterrupted, in 2018.

Helicopter Parenting and Hovering. Rachel Annunziato, Ph.D., associate professor of psychology and head of Fordham’s Pediatric Psychology & Health Behaviors group

We are in an era where parenting styles—such as helicopter, or hovering— are raising concerns about our children’s ability to develop independence and advocate for themselves. Indeed, in the medical community during the last decade there has been a push for adolescents to learn early how to self-manage their special health care needs.

My colleagues and I have been studying this process among a large sample of adolescents from around the country. We found that adolescents who say they are self-managing (versus those having more parental involvement) and those who say they are doing more than their parents think they are, have worse outcomes. This includes difficulty managing their medications. These findings perhaps signal that for some adolescents, it is critical to work with their parents rather than move them into the background. So [going forward]maybe a little hovering is okay.

Real Estate’s Downward and Upward Trends. Hugh F. Kelly, Ph.D., special advisor to Fordham’s Real Estate Institute in the School for Professional and Continuing Studies

The 2018 outlook for commercial properties in New York is mixed. Tenant demand for office space is strengthening on the basis of strong job growth in finance and business/professional services. These job gains are timely, as a new generation of offices is coming to market in significant volume. Lateral movement amongst corporate users should continue, creating vacancy in some older buildings. But high prices and low cap rates will keep overall transactions on a downward trend.

In retailing, especially storefront properties on high-traffic avenues, vacancy is quite high, as asking rents have tended to exceed the price that can be economically supported by stores sales. I’d expect capitulation from landlords if that trend intensifies; low returns are better than no returns.

The residential market is sorting out an excess of luxury development while dealing with the ongoing crisis of affordability. As a result, multifamily construction in the outer boroughs may be 2018’s most significant trend.

(Patrick Verel, Tom Stoelker, and Tanisia Morris contributed to the article.)

Listen here:

Full transcript below

Patrick Verel: This is Patrick Verel and today I’m speaking with Giacomo Santangelo, lecturer of Economics here at Fordham.

According to the New York Times, it’s expected that sometime this year Amazon will surpass Macy’s to become the largest seller of apparel in America. It seems to be kind of a big deal and yet it doesn’t seem to be getting the same sort of attention that the shrinking manufacturing sector is getting.

Giacomo Santangelo: Well, I don’t know why people feel it’s harder to sell clothing than it is books. I think it’s just as easy to sell anything in retail in the 21st century as it is anything else. I think people’s resistance to the change and the technology of how we do things makes people surprised at some aspects but not others.

People will respond to, “Oh, my goodness. People are buying books online remotely. People are purchasing clothing or makeup online remotely.” But no one questions that the gas company no longer needs to come to your house to read your meter, they can do it remotely or wirelessly. People don’t really question the fact that they are doing online banking.

I think in any dynamic economy, you’re going to see changes from mom-and-pop stores to chain stores. From chain stores to whatever comes after chain stores, which apparently is internet shopping. In very much the same way in the 1960’s and 70’s with the rise of large appliance manufacturing warehouse type stores. Or in the 1990’s with the rise of big warehouse type home improvement stores like Home Depot and Lowe’s.

People said, “Yeah, but this doesn’t feel right. I want to go to the corner hardware store.” Then, people said, “My God, this place is like a warehouse.” Now people can’t live without Home Depot and Lowe’s. When you saw moves away from people actually going into video stores and purchasing video cassette tapes and DVDs. Or places like Sam Goody and Tower Records and purchasing physical CDs and albums to people just buying those things online.

The largest retailer of music on earth, Apple, where you’re just downloading the music, suddenly people just noticed that for a period of time. But now we don’t talk about that anymore, we’re just excited about the new Kendrick Lamar album.

You mentioned before that the media is giving more press to the shrinking manufacturing sector. Manufacturing in the United States of America, unlike what the President’s Advisors have been saying publicly, is not a large sector. It doesn’t contribute a lot to employment in the United States and it hasn’t for decades. Nor has it contributed a great deal to GDP in the Untied States.

Much like inter-dynamic economy, inter-dynamic labor market, we move away from lower paying jobs to higher paying jobs. Relatively higher paying jobs. That’s where we are in the 21st Century. A majority of the economy is driven by what is known as service based labor.

We’re not sending our children to college and secondary education to learn to work in factories as linesmen and women, nor on farms working in fields. We send them to schools to become doctors, and lawyers, and financial professionals, and teachers, and things of that nature.

I think that’s something that’s been getting a lot of press but in the wrong direction because it’s not a thing that we do any longer. We haven’t for a very long time.

Patrick Verel: Aside from the jobs that will be lost when these stores close, I should think that the Real Estate sector is also gonna take a hit because obviously the vacancy rate is going to rise. Stores like Macy’s are often anchors for malls.

I wonder is the retail sector basically heading for a future where our street scapes are going to be exclusively dedicated to sort of experiential things? Like bars, and restaurants, and then other things that are just harder to replace like pharmacies and banks.

Giacomo Santangelo: One of the things that we’re seeing is a move away from traditional, you go into a store and try on some clothes. Or try out a whatever … a diet. We’re moving away from that and it is becoming, you used the word, experiential.

So it’s more of an experience when you go shopping. When you go to, for example, when people go to purchase make-up. Something that a lot of the companies are doing now, I think the company is called Charlotte Tilbury. They have a magic mirror where you will sit in front of a mirror and it will take a photo of your face while you’re sitting in front of the mirror. Then, you can try out the make-up on your image.

Now this, of course, is not new. Other companies have been doing this for years. But it’s been an app on people’s phones. But here, if you want to use the Charlotte Tilbury app, you have to actually physically go into a store.

The company Uniqlo they also have one of these, but it’s for clothing, so it will actually take … You take a selfie, you stand in front of a mirror, it takes a selfie of you, then you can literally swipe and put different outfits on yourself.

The interesting fact is that this was developed by Walt Disney a couple of years ago because at all of their parks, they have a store called the Bippity Boppity Boutique. In which, young boys and girls, because they don’t have this for adults, can go in and stand in front of a mirror.

You can then swipe to have yourself in one of the Princess’ or one of the Prince’s costumes. Then, you pick the one that you want and you buy it. But it allows you that kind of experience.

So I think it’s experiences that people want. It’s why … what’s happening right now with retail should not be surprising to anyone.

Patrick Verel: In the end, people are still buying things.

Giacomo Santangelo Yes.

Patrick Verel: Right.

Giacomo Santangelo: And they will.

Patrick Verel: Now they’re just buying them from a central location that’s further away from them in a warehouse somewhere instead of a smaller one that was close by and run by local people.

So I wonder, from an Economist perspective, what’s the upside to this?

Giacomo Santangelo: Well, I think you have to look at the two entities involved. One, is the consumer. The other is the person who’s selling. The issue is that the consumer has always and will always respond to the incentive of cheap.

The example I used earlier when I said that we used to have mom-and-pop appliance stores and mom-and-pop hardware stores. Then, you had these big box stores, you had the large retail chains. People said this is wrong. I don’t want to shop at, fill in the name with any one of those things, because I want to support my neighbor.

Now, your incentive to support your neighbor is they are your neighbor. But there is a limit of amount of money that you will save that you go, I really love my neighbor but I’m saving a lot of money. What ended up happening was the mom-and-pop stores went out of business.

Now this exact phenomenon has happened for well over a century. It happened with the retail chains. It’s happening now with the big box stores going to people purchasing things online. What incentive do I, as a consumer, have to shop at my local department store if I can just purchase things online.

Now back in the day, the issue of why I had to go in was, I had to be fitted. I needed to know what my size is. But I know what my size is. If I went into the store and just bought it, didn’t try it on and I went home, I gotta get back in my car, I gotta go back to the store.

Nope. Everything that comes in the mail comes with a return label. All I do is put it back in the box. If you drive around any suburban neighborhood, you see boxes being delivered and you see boxes being picked up. It’s become easier and easier for people to transact business and it’s cheaper, too. We are, as a race, very lazy. So we will respond to cheap and lazy as much as we can.

Patrick Verel: One criticism I have for me. It’s not so much a criticism as it is a concern, is that this is the sort of thing that works pretty well when it comes to suburban places. You have, for instance, the capacity to have delivery trucks coming and going back and forth.

But it gets a little more dicey when you’re talking about compact places like New York City. In that this older model of having large truck loads of goods being brought to a store and then people go to them, that worked better for cities. Because you could deliver the goods at night, for instance and have them unloaded.

As opposed to now, when you could have delivery trucks traversing the streets day and night, all the time. Basically, that you have a problem infrastructure in that the cities aren’t going to be able to accommodate the increase in number of trucks and the different times when these deliveries are being made.

Gaicomo Santangelo: I think you have two issues here. You have the issues of the cities and you have the issues of the suburban areas. In the suburban areas, you’re absolutely correct. The model for the suburban areas is very well laid out and set.

But the model for the cities is a different model, but it works just as well. I live in New Jersey and if I order something on Barnesandnoble.com, I have to wait maybe two or three days for it to come.

However, if I lived in Manhattan and I ordered something on Barnes and Noble, they guarantee same day delivery because there are many Barnes and Nobles in the city. They literally just tell the people at the store, get a box, put the book in, send it to Santangelo. Then, I get my book that same day.

So it’s a different model, but it works. What we’re seeing is, with regard to your first question … or the second question about employment, there are more jobs being opened up in distribution centers at these companies.

They’re not full time manufacturing jobs, but just as many jobs that are being displaced perhaps, according to the companies, are being replaced by these part-time distribution center jobs. So there are employment opportunities out there that are being opened up by the city problem.

Will Amazon.com have things delivered by drones? Well, obviously not in Manhattan, but in the outer boroughs, perhaps. Somewhere far away in the middle of nowhere, yes. I think that’s really what we’re looking at right now.

We need to change the way we look at the model in very much the same way that we had to change from looking at mom-and-pop hardware stores to looking at big stores like Home Depot. This is the next logical step. But every single time that step is made, there is resistance at first and then afterwards people go, what did we just do?

Patrick Verel: If all the jobs move out to distribution centers, further out from the cities, what does that mean for your Main Street USA?

Giacomo Santangelo: You’re gonna see a lot more retail space available in whatever this Main Street USA ends up being. When people want to have coffee, they’re still gonna need their Starbucks, so that’s always going to be there.

There are certain things that you cannot replace digitally, yet. There’s always something out there that’s threatening the main stream thing. So when my students ask me or when people call me up and ask me questions like this, I always say, “Well, I don’t know. How did the people producing radio feel about television?” Or, “How did those pesky TV people when they were replacing the people at the old movie theaters?”

When you look at those examples, you go yeah but that was an old thing. In 50 years, someone will comment on us having this discussion today and say, yeah but that was a thing back in the beginning of the 21st Century. It really is the same thing.

It’s interesting to see that everyone arguing about retail right now are crotchety old people saying, hey you kids, get off my lawn. We just don’t realize it because the kids haven’t shown up yet, but we’re still saying it.