PEOPLE
‘People’ is one of the four pillars studied by the Fashion Business School at the London College of Fashion. The ‘People’ pillar investigates the fashion industry’s impact on society and the customer’s sphere of influence on aligning processes within the industry. Put another way that is about relationships between people and the fashion industry.
Gen Z is the youngest generation born between 1995 and 2010. However, according to a report by McKinsey&Company, the members of Generation Z have a fundamental impact on people of all ages and incomes on the way those people purchase and relate to brands (Francis T. and Hoefel F., no date, p. 2). Zoomers are forced to influence previous generations to buy something since most of them do not have an income, while the rest of the Zoomers have $360 billion income, based on a Bloomberg report(Pollard A., 2021).
(Figure 1: Gen Z shopping trends uncovered (Vogue Business, 2021)
Drapers considered Gen Z members as the most social and environmentally conscious consumers in contrast with previous generations, whose members are less willing to accept different points of view or diverse (Drapers, 2022). The current customers are no longer looking for luxury as a brand name. However, the values, transparency and authenticity of the story built around the brand are fundamental, as Zoomers want to know who they purchase from. Therefore, Gen Z is also called ‘True Gen’ (Francis T. and Hoefel F., no date, p. 2). Furthermore, the development of innovative technologies also made changes between today’s and yesterday’s customers and market: phones, wi-fi, and social media are assumed for the latest generation instead of Millennials who were adopting advanced realities (Parker K. and Igielnik R., 2020). These innovations have changed the entire ecosystem that Generation Z consumes. Shopping has become available for every customer, and the importance of social media platforms as a source of shopping inspiration has increased for 97% of Gen Z members by 2021 (Kastenholz C., 2021).
(Figure 2: A spray-on dress and a solid gold bag: Coperni goes after Gen Z with novelty and fun (Vogue Businness, 2022)
To conclude, the basis for the development of the brand is a focus on the youngest generation’s needs and values, as Gen Z’s consumption power is on the rise. Therefore, mobility, affordability and authenticity are not privileges, although a requirement and the keys to attracting the current consumer. Furthermore, the brand’s response to diversity also plays a fundamental role in the brand’s success. According to Draper’s research, more than half of Gen Z and Millennials respondents (57.4% ) said equality and diversity are essential (Drapers, 2022). The response should be a solution to a specific problem. For instance, the Nike Pro Hijab (the first ever made for athletics hijab): «The Nike Pro Hijab was designed to solve the performance constraints of a traditional hijab in sport and to help advance the inclusive conversation around hijabs and Muslim women in sports» (Nike, 2017). In addition, the Statista survey showed that the majority (approximately 95.5 %) of online sports and outdoor goods shoppers in the United Kingdom and Germany recognised the Nike brand. Furthermore, its global revenue increased from 34.35 billion U.S. dollars in 2017 to about 46.71 billion U.S. dollars in 2022 (Tighe D., 2022). Thus, brands that know how to respond to the demands of society and how to stay authentic are successful out of time.
(Figure 3: The Nike Pro Hijab Goes Global (Nike, 2017)
Bybliography:
Drapers Bespoke, 2022. Gen Z and Millennials 2022. [online] Drapers. Available at: <https://www.drapersonline.com/guides/gen-z-and-millennials-2022> [Accessed 10 October 2022].
Francis T. and Hoefel F., no date. ‘True Gen’: Generation Z and its implications for companies. [online] McKinsey&Company. Available at: <https://www.mckinsey.com/~/media/McKinsey/Industries/Consumer%20Packaged%20Goods/Our%20Insights/True%20Gen%20Generation%20Z%20and%20its%20implications%20for%20companies/Generation-Z-and-its-implication-for-companies.pdf> [Accessed 13 October 2022].
Kastenholz C., 2021. Gen Z And The Rise Of Social Commerce. [online] Forbes. Available at: <https://www.forbes.com/sites/forbesagencycouncil/2021/05/17/gen-z-and-the-rise-of-social-commerce/?sh=1b31e7e6251d> [Accessed 14 October 2022].
Nike, 2017. The Nike Pro Hijab Goes Global. [online] Nike. Available at: <https://about.nike.com/en/newsroom/releases/nike-pro-hijab> [Accessed 15 October 2022].
Parker K. and Igielnik R., 2020. On the Cusp of Adulthood and Facing an Uncertain Future: What We Know About Gen Z So Far. [online] Pew Research Center. Available at: <https://www.pewresearch.org/social-trends/2020/05/14/on-the-cusp-of-adulthood-and-facing-an-uncertain-future-what-we-know-about-gen-z-so-far-2/> [Accessed 10 October 2022].
Pollard A., 2021. Gen Z Has $360 Billion to Spend, Trick Is Getting Them to Buy. [online] Bloomberg. Available at: <https://www.bloomberg.com/news/articles/2021-11-17/gen-z-has-360-billion-to-spend-trick-is-getting-them-to-buy> [Accessed 16 October 2022].
Tighe D., 2022. Nike’s revenue worldwide from the fiscal years of 2005 to 2022. [online] Statista. Available at: <https://www.statista.com/statistics/241683/nikes-sales-worldwide-since-2004/> [Accessed 16 October 2022].
Vogue Business, 2021. Gen Z shopping trends uncovered. [online] Vogue Business. Available at: <https://www.voguebusiness.com/consumers/gen-z-shopping-trends-uncovered-pay-pal> [Accessed 16 October 2022].
Vogue Business, 2022. A spray-on dress and a solid gold bag: Coperni goes after Gen Z with novelty and fun. [online] Vogue Business. Available at: <https://www.voguebusiness.com/fashion/a-spray-on-dress-and-a-solid-gold-bag-coperni-goes-after-gen-z-with-novelty-and-fun> [Accessed 16 October 2022].