Purpose
As the last of the four pillars of the fashion industry, purpose is the idea put forward by suppliers to represent what they want to bring to all consumers apart from profit, the idea that makes a brand unique and thus has its own audience. Nowadays, consumers are more likely to prefer a brand that puts forward a strong idea and implements it, while making a positive impact on the world.
Here comes another concept, brand philosophy which can split it into mission, vision, value. The mission determines the destination the brand will reach, the vision is the means by which they will execute it, and the value represents the reason for starting the journey. But purpose has a more important meaning, “By clarifying your purpose, you help people understand how your brand serves them and their world” ( Salva, 2018).
“New research into Generation Z in the US reveals that it’s time for businesses to ‘confess’ more openly that their sustainability and social programs are designed to make them more money”, Salt Communications said in 2015. Sustainability and ethics are growing in importance for Gen Z and millennial shoppers. In 2021, 51.3% of respondents said environmental and ethical sustainability was either fairly or very important. This year, that has grown to 57.7%(Moran 2022).The sharing economy is a great way of sustainability, and in the fashion industry it stands for activities such as swapping, renting, reselling and other methods of acquiring products that already exist or have been used. A software called COMN makes it possible to make friends in the community, find styles they like and ask to borrow their clothes, see what adventures these clothes have had with other borrowers and extend the life of the wardrobe through this aspect.Retailers include Selfridges, which offers a leasing service in collaboration with rental platform HURR.
“There are three key measures of Gen-Z spending: consumption as access, rather than possession; spending as an expression of their identity; and consumption as a measure of ethical concerns” says the BoF TEAM. Costumers want to see different products and then a real story behind those products and behind the brand itself. Another serious point is that consumers feel reassured by effective communication with the brand. In order to spread the word about the brand’s purpose to more GenZs, more and more businesses are looking for opportunities on social media. In addition to posting pictures on platforms such as instagram and TikTok, inviting celebrities to carry the products or live-streaming them is becoming increasingly popular.
REFERENCE:
[Accessed 30 October 2022]
Moran, G. (2022) Drapers, Gen Z and Millennials 2022
https://www.drapersonline.com/guides/gen-z-and-millennials-2022
BoF TEAM (2020) How to Communicate and Connect with Gen-Z Consumers
Deanna deBara (2022) What is a brand purpose and why is it important?
Raphael Bemporad (2017) Brand Purpose in Divided Times
http://bbmg.com/brand-purpose-in-divided-times/
COMN (2022) COMN-Share your clothes
Ruth MacGilp (2021) What the Fashion Sharing Economy Is, and How to Do It Right