People

People are an important pillar within businesses, creating a relationship between both business and consumer with strategies to enhance the industry and consumer needs. Gen Z are effecting views, studies are being created to understand the generation in more depth. (Francis & Hoefel, 2019)

Internet and social media masters, Gen Z are the generation of consumers who have extensive impacts on our culture and economy. The category ranges from people born between 1995-2010 with millennials being the generation before. Gen Z is the largest generation spending most of their disposable income on fashion. It has been recorded that consumers are spending less on fashion as they age leaving Gen Z with the uppermost attention from the industry. (Benjamin & Diana, 2022)

For the industry to attract Gen Z they need to strategise the wants and needs of the consumers. Over the next 12 months its been recorded that “71% expect to shop online, 21% expect to shop online less, while 8% are unsure.” This gives brands the targets of online use which creates a direction for the brand. Creating online experiences that are “fun” and “helpful” while consumers shop will keep the consumers engaged forwarding the experience they had with the brand to other individuals. (Graeme, 2022) Consumers want responsible fashion, and using this response to attract shoppers will be highly beneficial for a brand. Consumers desire to become social entrepreneurs putting pressure and influencing brands to create change. (Hethorn & Ulasewicz, 2021, p. 27-50)

A key factor is diversity, where a brand can attract an immense variety of Generation Z. (WGSN, 2021) Diversity is “the inclusion of different individuals.” (Dictionary, n.d) Victoria Secret’s market has declined significantly over years due to their ‘outdated’ stereotypical angels. Victoria Secret’s chief executive said “the company wants to become a leading global advocate for female empowerment.” They have decided to use female empowerment, creating their board of directors mostly women. (Maheshwari & Friedman, 2021) ‘Love Cloud’ collection used 18 diverse models to honour their new inclusivity and diverse values. (Braun, 2022)

“You have to speak to the consumer throughout the journey, not only when you get to a place of need.” (Business of Fashion, 2019) Focusing on consumers is key for a brand to become or resume being successful. Communication and relationship building is a key strategy for a brand to connect with their consumers positively forming a devoted alliance and a competitive advantage. Gifting products is an advantage for engaging with people completing the aim of influencing, loyalty and respect when building relationships. (Business of Fashion, 2019)

Reference list:

Braun, J. (2022) Victoria’s Secret launches comfort collection with diverse campaign, Love Cloud. Available at: https://uk.fashionnetwork.com/news/Victoria-s-secret-launches-comfort-collection-with-diverse-campaign-love-cloud,1378192.html (Accessed: 19.10.22)

Dictionary (n.d) Dictionary. Available at: https://www.dictionary.com/browse/diversity (Accessed: 16.10.22)

Maheshwari, S and Friedman, V. (2021) Victoria’s Secret swaps angels for ‘what women want.’ Will they buy it? Available at: https://www.nytimes.com/2021/06/16/business/victorias-secret-collective-megan-rapinoe.html (Accessed 19.10.22)

Moran, G. (2022) Gen Z and Millennials 2022. Available at https://www.drapersonline.com/guides/gen-z-and-millennials-2022 (Accessed: 15.10.22)

The Business of Fashion (2019) How Can Fashion Adopt Connected Consumer Strategies? Available at: https://www.businessoffashion.com/articles/news-analysis/how-can-fashion-adopt-connected-consumer-strategies/ (Accessed: 19.10.22)

WGSN (2021) Diversity & inclusion: Brand strategies. Available at: https://www.wgsn.com/insight/article/90272 (Accessed: 16.10.22)