Abstract

The current environmental, social, and economic challenges affect consumer behavior worldwide. The culture of conscious consumption is a strategic trend that changes the structure of the textile, clothing, and footwear industry (TCF) market, as well as the business models and strategic priorities of fashion companies. The looming depletion of natural resources promotes a new consumption paradigm based on rationality, responsibility, and resource efficiency. This paradigm ensures the long-term sustainability of the fashion industry. The article describes the strategic shift in consumer interests brought about by the culture of conscious consumption and the way TCF and fashion enterprises adapt to the new consumer preferences. The research relied on the general theory of strategy and the methodology of strategizing developed by Professor Vladimir L. Kvint, the founder of the Russian school of strategizing. The culture of conscious consumption is a multifaceted and interdisciplinary subject that encompasses economic theory, marketing, sociology, consumer psychology, and ecology. The TCF industry needs to develop new business adaptation strategies in order to meet the new consumer interests, as well as to establish institutional conditions for conscious consumption as a sustainable trend. The patterns of conscious consumption reveal multidimensional shifts in consumers’ behavior, whose understanding provides a foundation for strategizing. Those companies that can adapt to the new consumer trends gain significant competitive advantages.

Keywords

strategy, strategic priority, light industry, clothing, and footwear industry (TCF) industry, fashion industry, interest, conscious consumption

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