People
“People” is one of the four pillars of fashion business. People is a very important part of today’s fashion industry, representing the diversity and diversity of consumers and today’s society. If a brand is favored by more consumers, it will be It proves that the brand has invested a lot of time and energy in consumers, and the quality of the brand’s word of mouth will be better.
Generation Z (Gen Z) refers to the generation born between 1997-2012, following the millennial generation. And this generation was the first to grow up on the Internet and social media, which are rapidly evolving. And Gen Z is the biggest consumer in the fashion industry today. Insider Intelligence (eMarketer) has been tracking Gen Z’s preferences, characteristics, values, consumption attitudes and trends to develop in-depth statistics, facts and marketing strategies targeting the soon-to-be largest consumer segment. According to survey statistics, U.S. Gen Z sellers are increasing year by year and are expected to peak in 2025. By the end of the 2025 forecast, millennials will continue to make up the largest share of the user base. Last year, more than 40% of BNPL (buy now, pay later) service users were millennials. Still, Gen Z will eat that share over the next four years as this group moves into digital shopping. Since BNPL payments became more mainstream, Gen Z digital buyers have been flocking to these alternative payment services in greater numbers than their millennial counterparts. By the end of 2022, 44.1% of Gen Z digital buyers aged 14 and older will have used BNPL services at least once that year, compared with only 37.2% of millennial digital buyers. Only 39% of Gen Z internet users in the U.S. say they trust brands to keep their data safe, the lowest confidence rate of any generation. Still, Gen Z is the least concerned about the way companies use their personal information, an age group that raises the alarm on fewer U.S. internet users than older age groups.
In the US, Gen Z now uses TikTok more than Instagram. In recent years, due to the rise of short videos and the increasing popularity of Gen Z, the Gen Z generation began to join the ranks of shooting short videos. Today, TikTok is the social media with the largest group of young users, and TikTok has also reached a key milestone for the youngest users. By the end of the year, the video app will have more Gen Z users than Instagram in the US. According to the latest social user forecast, it will surpass Snapchat in total users by 2023. In the US this year, TikTok will have 37.3 million Gen Z users (born between 1997 and 2012) who visit their accounts at least once a month. There are also a lot of fashion brands entering TikTok and shooting special short videos for it to attract Gen Z users to buy. There are also a lot of user bloggers from Gen Z on TikTok sharing short videos to show their favorite fashion brands and trendy objects, and there are also a lot of singers on TikTok to create a series of rhythm to attract young people’s music in order to become popular, such as American singer Doja Cat was nominated for the Grammy Award for Best Rookie after his song “Say So” became popular on TikTok to increase his fans. By comparison, Instagram will have 33.3 million users in the same demographic. Meanwhile, Snapchat is the leading social network among Gen Z in the US, with 42 million users in the group this year. While TikTok will remain until 2025, TikTok will close the gap significantly by the end of the forecast period.
References
Insider Intelligence. 2022. Almost 75% of BNPL users in the US are Gen Z or millennials. [online] Available at: [Accessed 16 October 2022].
Insider Intelligence. 2022. Gen Z doesn’t trust brands with its data. [online] Available at: [Accessed 16 October 2022].
Insider Intelligence. 2022. More Gen Zers now use TikTok than Instagram in the US. [online] Available at: [Accessed 16 October 2022].
Meola, A., 2022. Generation Z News: Latest characteristics, research, and facts. [online] Insider Intelligence. Available at: [Accessed 16 October 2022].