PEOPLE
One of the pillar’s element – people, their consumption and purchasing value toward fashion companies has altered as the generation grows. Gen Z is people aged from 1995 to 2010 and has been hyper-connected to world-digital natives since they were born. They seem more open to fresh ideas and diversified knowledge than earlier generations (Francis and Hoefel, 2018). As consumers, they are more likely to enjoy online shopping because they find it relaxing or fun. Also, the group is willing to pay for premium personalised services and products to be unique. Lastly, there is increasing ethical concern among Gen Z. In 2022, 46.8% of Gen Z said they had abandoned a purchase that did not align with their values (Moran, 2022). Therefore, brands might need to adopt new strategies to attract Gen Z customers.
There are serval ways how brand could attract Gen Z customers. Relating to the uniqueness that Gen Z is seeking, brand could provide personal tests to help consumers find the ideal products, which could make it fun while increasing interactivity during online service. Second, involve sustainability into brand’s value chain could promote brand reputation among ethical group. For instance, Condé Nast (2020) noted that collaboration between relevant organisations is now seen as a crucial enabler of the systemic shift that will be required to produce, communicate, sell, use, and engage with fashion in the future more sustainably. Brands could invest money in these institutions or teams and cultivate strong partnerships across areas to benefit themselves to achieve an ethical value. As a result, cultivating an ethical image may entice Gen Z to become devoted customers.
Partner with different sectors could promote ethicalness as well as brand diversity, which enabling everyone to exchange knowledge and contribute knowledge to benefit the whole community. For example, Burberry’s global Diversity and Inclusion strategy (DI) centers on valuing and embracing diversity and fostering an atmosphere. They established strategic alliances with charities and communities worldwide, and technically upgrading their HR systems platform allows Barberry to analyse their colleague diversity toward better decision-making for DI (Burberry, 2022).
Given how quickly the world is changing, it is crucial for brands to utilise their abilities efficiently. Consequently, there are some recommendations on how businesses should increase their competitiveness by selecting the talents. As customers frequently use e-commerce, data analysis skills for big data might be essential for fashion brands. Tech specialists could help brands understand customers’ tastes, then give advises for product promotion in the long run. Also, communication skill is vital when people are under diverse workplace. Brand might have more innovative ideas if employee could exchange their knowledge, and understanding different cultures and background.
References
burberry Corporate Website. 2022. Home. [online] Available at: <https://www.burberryplc.com/en/index.html> [Accessed 16 October 2022].
Condé Nast, 2020. The Sustainable Fashion Glossary. [online] Available at: <https://www.condenast.com/news/conde-nast-launches-sustainable-fashion-glossary> [Accessed 15 October 2022].
Francis, T. and Hoefel, F., 2018. The influence of Gen Z—the first generation of true digital natives—is expanding.. [online] McKinsey & Company. Available at: <https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies> [Accessed 14 October 2022].
Moran, G., 2022. Gen Z and Millennials 2022. [online] Drapers. Available at: <https://www.drapersonline.com/guides/gen-z-and-millennials-2022> [Accessed 14 October 2022].