People
In relation to the fashion industry the pillar ‘People’ relates the most. The industry was built by and for the people. Generation-Z, “Widely seen as technology savvy, aware of climate change and environmental impact” (Morgan, G, 2023) yet they still engage in distinctive and individual forms of fashion style, motivated by social media. We are learning that it takes more than academic qualification to become a successful fashion business owner to target the new Generation-Z.
Generation-Z defined as a compromise between the ages 7-27 (Morgan, G, drapers, 2023). “G-Zers are growing fast: Gen Zers will make up a quarter of the population of the Asia–Pacific region by 2025.”(Mckinsey & company, 2023). Equal to other generations, Gen-z is shaped by behaviors they are surrounded by. In particular social networking. However 53% of Gen-z and millenials taken for a survey opt for stores as there preferred shopping channel. Despite 92% uzalizing mobile apps. (Morgan,G, Drapers, 2023). “It is clear Gen-Z and millenials use every shopping channel interchangeably” (Morgan,G, Drapers, 2023). This is where the idea of Omnichannel shopping comes into play. Fashion brands and retailers need to ensure they are proposing an omnichannel approach to secure equally strong shopping channels to target Gen-Z. For example it would be important to have a powerfully built social channel as this is where most impulsive purchases are made. 12% of respondents on drapers survey admit to purchasing on social media (Morgan,G, Drapers, 2023.
Gen-Z generally participate in this new wave of inclusive consumers. “Gen-z collectively demands the creation of more opportunities for diverse and underrepresented backgrounds” (Mckinsey & company, 2023). Popular singer Rihanna’s brand Savage x fanty is a prime example of diverse marketing. Savage x fenty has revolutionised the lingerie industry. They are now highly congratulated for her size diversity. Ranging from XS to 3X in bralettes and 32A to a 46H for bustiers and bras. Savage x Fenty has also merged there diverse ideas into their marketing strategies and on the runway.
Traditionally academic qualifications are a necessity in order to be a successful business/brand owner. As the primary objective to target the consumer, Generation-z, we have learnt it is vital to have a strong Social Channel. “Members of this generation care about ease of use: mobile pay, app-based services, and simple online transactions are important, and brands have found major success by restructuring to suit Gen Z tastes” (McKinsey’s & Company, 2023) proving that it is now essential for aspiring brand owners to have qualification and experience within the digital, technology and AI industry.
Reference list:
Five trendy and inclusive fashion brands to support in 2021 (no date) clothes & water. Available at: https://www.clothesandwater.com/style/five-trendy-and-inclusive-fashion-brands-to-support-in-2021 (Accessed: 13 October 2023).
Moran, G. (2023) Gen Z and millennials 2023, Drapers. Available at: https://www.drapersonline.com/guides/gen-z-and-millennials-2023 (Accessed: 12 October 2023).
What is gen Z? (2023) McKinsey & Company. Available at: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z (Accessed: 13 October 2023).