People
People is one of the main pillars of the fashion industry, which brings together the consumer with the brands business strategies to help market their products and attract new consumers who are also known as generation Z or commonly referred to as ‘Gen Z’. They’re called “digital natives”—the first generation to grow up with the internet as a part of daily life (McKinsey, 2023).
GEN Z
Members of Generation Z, commonly born between the mid-1990s and mid-2010s, have emerged as a distinctive cohort of consumers characterized by unique preferences and behaviors. As digital natives, they have grown up in a world saturated with technology and social media, making them exceptionally tech-savvy and interconnected (Twenge, 2017). Luxury brands needs to invest in unique marketing tactics to capture the young audience attention. Co-branding is a trend that brands have attempted with collaborations such as, Gucci and Adidas surpassing the usual limits by creating unique logos and prints for the co-branded collections (Mitterfellner, 2023). Furthermore, in total, 87.7% of Gen Z and millennial consumers use apps to buy fashion at least occasionally, up from 85.5% last year. While it is interesting to note the different patterns of usage between the two cohorts, both Gen Z and millennial shoppers are clearly keen on the speed, ease and engagement factor of apps (Moran, 2022). Therefore, sales are growing into online transactions as brands have introduced an virtual environment that consumers find easy to navigate, enhancing the exclusivity of its distribution network and attracting Gen Z consumers.
DIVERSITY
The “Dream Crazier” Nike’s campaign, featuring tennis star Serena Williams, highlighted the achievements of female athletes and encouraged women to break down barriers in sports. Furthermore, the company has made efforts to address diversity in its workforce by setting targets to increase the representation of women and underrepresented minorities in leadership positions. These actions not only align with Nike’s core values but also respond to the growing demand for more inclusive and representative branding in the marketplace (Nike, 2021).
PEOPLE SKILLS
The success of a fashion brand hinges on a myriad of key people skills that are essential for navigating the highly competitive and dynamic fashion industry. One has to be effective communication which is vital to efficacy in leadership because it helps to generate rapport, build trust, and encourage collaboration towards a common goal (LPS, 2023). Lastly, team management skills is very important because promotes a unified approach to leadership within a company.
BIBLIOGRAPHY
Barna Group. (2018). Gen Z: The Culture, Beliefs, and Motivations Shaping the Next Generation. Barna Group.
LPS, PENN. (2023) Why communication is essential to effective leadership. Available at: https://lpsonline.sas.upenn.edu/features/why-communication-essential-effective-leadership#:~:text=Strong%20communication%20skills%20allow%20leaders,politically%2C%20personally%2C%20or%20professionally.
McKinsey. (2023) What is Gen Z? Available at: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z
Mitterfellner, O. (2023). Chapter 8- The Future of Luxury Fashion Brands. Available at: https://ebookcentral.proquest.com/lib/ual/reader.action?docID=7260416&ppg=178
Moran, G. (2022) Drapers, Gen Z and Millennials 2022. Available at: https://www.drapersonline.com/guides/gen-z-and-millennials-2022
Nike. (2021). Our Commitment to Diversity, Equity, and Inclusion. Available at: https://purpose.nike.com/diversity-and-inclusion
O’Grady, S. (2019). Marketing to Gen Z: The Rules for Reaching This Vast–and Very Different–Generation of Influencers. AMACOM.
Twenge, J. M. (2017). iGen: Why Today’s Super-Connected Kids Are Growing Up Less Rebellious, More Tolerant, Less Happy–and Completely Unprepared for Adulthood–and What That Means for the Rest of Us. Simon and Schuster