Purpose
The fourth pillar of the fashion business is the purpose, and the main content of this pillar is wellbeing, which has six types: emotional, physical, financial, social, and subjective. Wellbeing is subjective and objective but also universally relevant. Human wellbeing is influenced by environmental factors and some experiences. Economic, health, education, etc. can affect our wellbeing. Happiness is also a way of knowing ourselves, for example, how we feel about ourselves; the quality of our relationships with others; and our sense of purpose. These psychological components are an essential part of who we are as people, including how we feel about negative and positive emotions. Simply put, happiness is about “how well we are doing” as individuals, communities and nations, and the sustainability of this for the future. Personal happiness is a significant level of satisfaction that we can define as our feelings about the value of what we do in life or the emotional experience we have every day (What Works Wellbeing, 2022). The two main pathways to wellbeing are hedonic wellbeing and eudaimonic wellbeing. Hedonic wellbeing is usually assessed by overall satisfaction with life. Subjective well-being, life satisfaction, happiness, and positive and negative effects are all examples of hedonism. Eudaimonic wellbeing is seeking and developing good relationships and shaping one’s surroundings to meet personal needs and desires (Ryff, Boylan and Kirsch, pp. 1-9)
Wellbeing in the Fashion Industry for people, our appearance reflects how we want the world to see us, where we feel comfortable, and how we see ourselves. For example, people who wear white lab coat is seen as authority figure. Appearance plays an important role in people’s judgment of others. What customers think of store associates and how they perceive the products they buy because of their appearance is an important part of the customer experience and is a subconscious experience (Shaw, 2013)
Every fashion company wants its customers to have a perfect shopping experience, so it is very important for companies to have a brand philosophy. This will help the company to achieve its future goals and let the customers know what the company is about. An important component of building a successful fashion brand is the vision statement. The vision statement is a description of what the company wants to achieve and how it wants to achieve it, as well as a description of the brand’s place in the world. It is also important for a brand to communicate why it exists and what it wants to achieve, as research shows that young consumers are now more concerned with the company’s vision than the products it sells. When a company has a very clear mission statement, it is very beneficial for the company to establish ethics and guidelines. If the company’s guidelines are not followed, others in the company may make choices that are different from the company’s goals. The company value reflects what the employee stands for, which is a sense of responsibility. Good values can help employees make the right decisions, and getting employees to make the right choices is all about setting the right company values. Brand proposition, also known as brand statement, is a statement about fashion company that shows the benefits of using a brand to consumers of the brand. Brand proposition can also connect with target audience groups, attract potential customers and build market interest (Heinilä, 2022)
Generation Z is unlike any other generation in that they are more socially conscious and socially responsible. generation z is the generation living in the digital age, they are diverse and the most educated generation. At the same time this generation avoids labeling themselves, they are very tolerant and take time to consider all their options before deciding to buy a product. Brands wanting to communicate their goals to Gen Z will need to employ a number of approaches. First, emphasize eye-catching visual content. Since Gen Zers are particularly fond of short videos, company marketers should incorporate visual platforms into their strategy, like Shake and Instagram stories. Secondly, brands need to create interactive content that allows them to better understand what they want and how to improve on their original shortcomings. The interactive content also helps customers make better shopping decisions and helps shoppers identify the style that matches their personality.
Consumers have high expectations for brands to take a stand on social issues. It is prominent among Gen Z consumers, who believe that brands are meant to serve their communities and society. From championing diversity to raising awareness of social issues, brands need to put their beliefs and values in the public eye (Kim, 2021)
Reference:
What Works Wellbeing (2022) What is Wellbeing? Available at: https://whatworkswellbeing.org/about-wellbeing/what-is-wellbeing/ [Accessed: 27/10/2022]
Ryff, C. D., Boylan, J. M., and Kirsch, J. A. (27 October 2022) Eudaimonic and Hedonic Well-Being. Available at: https://academic.oup.com/book/39523/chapter/339347669 (pp. 1-9) [Accessed: 27/10/2022]
Fig 1, whartonhealthcare.org (2022) The Happiness Trend – A Healthy Pursuit or an Obsessive Quest? – Part 2. Available at: https://www.whartonhealthcare.org/the_happiness_trend_a_healthy_pursuit_or_an_obsessive_quest_2 [Accessed: 27/10/2022]
Shaw, C. (October 14, 2013) DRESS FOR SUCCESS: THE WHITE LAB COAT EFFECT AND THE SUBCONSCIOUS EXPERIENCE. Available at: https://beyondphilosophy.com/dress-success-white-lab-coat-effect-subconscious-experience/ [Accessed: 27/10/2022]
Heinilä, R., (2022) Company Values: Definition, Importance and Examples. Available at: https://haiilo.com/blog/the-importance-of-company-values/ [Accessed: 27/10/2022]
Kim, k., (July 27, 2021) How to make sure you’re marketing to Gen Z the right way. Available at: https://sproutsocial.com/insights/marketing-to-gen-z/ [Accessed: 27/10/2022]
Fig 2, Sprout Social (2021) Available at: https://twitter.com/SproutSocial/status/1409985913413844995?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1409985913413844995%7Ctwgr%5Ec843d687a8420df628b92f475ac9dc14512a2e53%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fsproutsocial.com%2Finsights%2Fmarketing-to-gen-z%2F [Accessed: 27/10/2022]
Fig 3, Burton Snowboards (2021) Available at: https://twitter.com/burtonsnowboard/status/1409587408379650064?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1409587408379650064%7Ctwgr%5Ec843d687a8420df628b92f475ac9dc14512a2e53%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fsproutsocial.com%2Finsights%2Fmarketing-to-gen-z%2F [Accessed: 27/10/2022]