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Various macroenvironmental factors such as economic conditions, technological advancements, cultural trends, and government regulations can impact a niche market like sustainable fashion. For example, a global economic downturn may reduce consumer spending on luxury sustainable products, while an increase in awareness about environmental issues can drive demand for eco-friendly fashion. Technological advancements in sustainable fabric production can also influence the market by offering innovative solutions for sustainable fashion brands to differentiate themselves. Additionally, government regulations promoting sustainability practices can create opportunities or challenges for businesses operating in this niche market.

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1y ago

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