But "fast fashion" is a major contributor to greenhouse gases, water and air pollution, creates problematic levels of waste, and often comes with poor working conditions in other countries.
The Environmental Audit Committee demanded the government clean up the industry, making 18 recommendations covering environmental and labour practices. The government says it is dealing with the problem.
Here's what sustainable fashion experts say we can we do to reduce the harmful effects of our shopping habits.
1. Buying less is more
"The most important thing essentially is buying less," says Tolmeia Gregory, an environmental activist who blogs about ethical fashion under the name Tolly Dolly Posh.
She says we need to get rid of the whole culture of buying clothing for specific occasions, such as nights out and holidays:
"At first people can get defensive. You can feel attacked," she says. "But we have to try our best to break through that and think of it as more of a hopeful thing."
Kate Fletcher, Professor of Sustainability, Design, Fashion at the Centre for Sustainable Fashion, agrees. She says buying less clothing "is not at all some sort of devastating body blow".
She recommends going through your wardrobe and "noticing what you've already got that adds to the quality of your life".
"Many of us shop for things and realise it's the anticipation rather than the purchase that gives us satisfaction," she says.
People experience "spikes of pleasure" when they are shopping, but are often uninterested in their purchases once they have them, she says.
"In studies where people report how happy they are, beyond a level of consumption where the basic needs have been met, every additional new purchase adds very little to people's wellbeing."
Aggressive marketing by clothing brands have "overridden this knowledge", she says.
"What we actually see now is that having more tends to undermine the sense of wellbeing.
"It is linked to isolation, higher levels of depression. It's actually making us less happy and less well connected."
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