sustainable development, greenwashing, sufficient consumption, fashion, overconsumption, marketing


The article examines how the fashion industry has been exploiting marketing tactics that encourage overconsumption and generate a mass consciousness among consumers, where a person's social status is determined by the clothes and accessories they use. However, these tactics have contributed significantly to global environmental pollution and socio-economic issues. The fashion industry has been driven by profit-first interests that rely on cheap materials, accelerated aging of products, aggressive advertising, and an offshoring strategy that provides cheap labor and low tax rates. It is high time that companies reassess their marketing strategies and focus on sustainable development. The current climate crisis demands that companies make informed decisions and take proactive measures toward sustainability. This article revealed the impact of fast fashion marketing on consumer behavior and the environment, highlighting the need for sustainable fashion practices. The article analyzes the initiatives fashion companies take to incorporate sustainability into their core business strategies, for instance, innovative raw materials, recycling, and repair services. The article examines the practice of greenwashing, where companies make false or exaggerated claims about their environmental efforts to appear more sustainable. The article emphasizes the need for companies to encourage consumers to sufficient consumption to stay sustainable and achieve zero emissions to solve climate problems. Achieving and maintaining consumer well-being and social equity are critical goals in today's global business environment. One strategy for achieving these goals is through sufficient consumption, which involves optimizing resource use and reducing waste. Sufficient consumption can be realized by revaluing personal needs and desires, limiting excessive consumption, and minimizing waste. By adopting a mindful and responsible approach to consumption, consumers and companies can promote social equity and cultivate a sustainable business environment.


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Author Biographies

Olena Naumova, «KROK» University

Ph.D. in Economics, Associate Professor, Associate Professor of the Department of Marketing and Economic Behavior, «KROK» University, Kyiv

Mariia Naumova, Taras Shevchenko National University of Kyiv

Ph.D. in Economics, Assistant of the Department of Economic Cybernetics, Taras Shevchenko National University of Kyiv, Kyiv


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How to Cite

Naumova, O., & Naumova, M. (2024). SUSTAINABLE DEVELOPMENT AND GREENWASHING: AN ANALYSIS OF SUFFICIENT CONSUMPTION IN THE FASHION INDUSTRY. Economics, Finance and Management Review, (1(17), 16–24.



Chapter 1. Current trends in economic development