People
One of the most influential pillars within the fashion business school is people. It is the reason business adapt and run. To understand how to target a product to a customer you first need to understand the market and within that is the consumers. Moreover it encourages you to understand the needs and wants of the customer (David Meerman Scott, New Rules and Marketing and PR).
Generation z is one of the biggest and more influential generations, as well as one of the biggest consumers in the market, they were born in a when there was massive financial struggle where have more awareness on spending as watching their parents struggle. In addition they also are more likely to shop sustainably as well as high-quality, products as they are more cautious on being ethical. 73% of Generation Z consumers are willing to pay 10% more for sustainable products ( iiii) furthermore they have strong views as well as beliefs on diversity as well as brands being socially responsible value personalised products and are often drawn to brands that share their point of view on political issues as they are more cautious on who they are buying from.
Generation Z is more or less born with a phone in their hand and has a completely different approach to social media and digitisation in general. They use social media to seek inspiration, research products and connect with their favourite brands. majority of their research or information is coming from tiktok or other social media platforms Gen Z are YouTube (95%), TikTok (67%), and Instagram (62%). —-60% of Generation Z in the US use Instagram to discover new brands, products and services. therefore majority of purchases are made online as well as Generation Z embracing mobile payments like mobile apps and mobile wallets encouraging them to shop majority online, this would force brands to adapt their style of marketing to appeal to gen z such as creating tiktok accounts of promoting their products by creating a instagram. gen z one of the biggest buyers in the market so it is important that brands are adapting to the current trends.
Furthermore a brand that has taken initiative is third love a lingerie brand who uses measurements from millions of real women instead of industry size templates. The brand created a line of bras with 78 different sizes including half cup sizes. Not only does ThirdLove create a product that’s made for real women’s bodies, it also offers a wide range of nude shades to offer options for more skin tones they highlights real women with diverse backgrounds, body types, and ages. this would attract attention. as it is humanising it has a estimated valuation of $750 million proving to be successful. consumers escpially generation z would be more drawn to brands like third love rather than brands such as Victoria secret who have a specific brand image on who they want purchasing their products. diversity is very import in our modern world today as when making a purchase our generation are going to be cautious on what the brand stands for as well as their values due to being social responsible.
Referancing
Inglis, A. (2016). Importance of Buyer Personas for Your Business. [online] Grow. Available at: https://wearegrow.com/importance-of-buyer-personas-for-your-business/.
Apptus (2022). Generation Z: Online Shopping Habits and Behaviour [2022]. [online] www.apptus.com. Available at: https://www.apptus.com/blog/generation-z-online-shopping-habits/.
www.pixlee.com. (n.d.). 4 Brands Embracing Diversity in Their Content | Pixlee TurnTo Blog. [online] Available at: https://www.pixlee.com/blog/4-brands-embracing-diversity-in-their-content.