Ella Madigan

Purpose 

Purpose is known as the ‘aim’ of a business or organisation. It is one of 4 of the main pillars of the fashion industry. Purpose is the reason why people start their business, what they aim to achieve and how they are going to succeed within the industry, that is why to me, purpose is one of the main/ most important pillars. 

The pillar of purpose explores a brands ‘mission, vision and value’. The brands mission and vision can be shown from a brands given ‘mission statement’. For example, here is the mission statement of Zara: “give customers what they want, and get it to them faster than anyone else.” Along side the vision statement: “to contribute to the sustainable development of society and that of the environment with which we interact.” This shows the purpose and the aim of the brand and what they hope to achieve and aim to present within their brand in order to be sustainable and successful. It clearly states and explains to the customer, and also those just interested in what the brand of Zara wants to achieve in the business aspect in order to become a profitable and successful brand. Here is a diagram of the mission, vision and values of Zara: 

Brands communicate their purpose to Gen-Z by ‘Of those who are happy for brands to communicate their purpose-driven work with them, most told us social media and a brand’s website are the platforms through which they want to hear it.’ This shows the impact I. Which social media has on our lives, brands and the success of brands in todays day and age. Social media marketing would be a good way to present the brands purpose as that is shown through research to be a main way in which a brand will attract Gen-Z customers.  Also, video content such as tiktok videos and instagram reels is a way that brands can successfully reach and communicate to Gen-Z.

King, J. (2022) How brands can win the trust of gen Z – attest blog, Attest. Available at: https://www.askattest.com/blog/attest-investigates/how-brands-can-win-the-trust-of-gen-z (Accessed: November 14, 2022). 

Roth, R. (2018) Council post: Give customers what they need (not what they want), Forbes. Forbes Magazine. Available at: https://www.forbes.com/sites/forbescoachescouncil/2018/05/03/give-customers-what-they-need-not-what-they-want/ (Accessed: November 14, 2022). 

Zara Mission and Vision Statement Analysis (no date) Edrawsoft. Available at: https://www.edrawmind.com/article/zara-mission-and-vision-statement-analysis.html (Accessed: November 14, 2022). 

Profit is another of the 4 pillars in the fashion industry. Profit is seen as the result of a business/ brands success and result. Profit is what keeps a business running, therefore is one of the key pillars. 

The size of the fashion industry is shown here in a recent survey as ‘valued at $1.7 trillion as of 2022. The fashion market had a growth rate of 5.46% in 2017 and was projected to hit 6.2% by 2020.’ This data may not currently be accurate, as this is ever changing. This is due to the industry continually growing, and also having obsticals affecting this, such as in 2019, the outbreak of ‘covid-19’ which still has an impact on the fashion industry in todays world. 

Fashion and profit affects the size of the industry globally, however, the country in which we see the most growth in, is France, according to the brands countries IPX by IFDAQ. The graph below shows the leading country’s in the globe which have an impact on profit:

How can a brand remain competitive in uncertain economic times?

A good example for how brands can remain competitive during uncertain economic times is the disruption in which COVID-19 had on our economy and in the world in general. Covid-19 effected lives and people around the globe which had a huge impact on the fashion industry with many previously successful businesses (such as misguided) being discontinued due to the economic impact. However, an uncertain economy does not mean an exit from marketing. Brands could continue to personally and individually market their brand through many ways (such as advertising, pr, emails ect.) and try and adapt the way they present this due to what is going on in the economic world, so they can gain personal relationships for when this improves to keep the brand running, strong and successful. 

How do creative directors bridge the gap between creativity and commerce?

A director has to be serious about the business aspect, and equally creative. They have to have a mutual relationship between the two in order to keep their business successful. As said by Tearra Marie: “You bridge the gap by learning about and doing as much as possible in both aspects.”

 References:

Ariella, S. (2022) 28 dazzling fashion industry statistics [2022]: How much is the fashion industry worth, Zippia 28 Dazzling Fashion Industry Statistics 2022 How Much Is The Fashion Industry Worth Comments. Zippia. Available at: https://www.zippia.com/advice/fashion-industry-statistics/ (Accessed: November 10, 2022). 

Generation Z (2022) Wikipedia. Wikimedia Foundation. Available at: https://en.m.wikipedia.org/wiki/Generation_Z (Accessed: November 10, 2022). 

Panel®, E. (2022) Council post: 11 brands that successfully model diverse and inclusive advertising, Forbes. Forbes Magazine. Available at: https://www.forbes.com/sites/forbescommunicationscouncil/2022/07/15/11-brands-that-successfully-model-diverse-and-inclusive-advertising/?sh=73c6fd3557b9 (Accessed: November 10, 2022). 

Person (2022) How gen Z shapes sustainable luxury fashion through digital, Sustainability Magazine. Available at: https://sustainabilitymag.com/sustainability/how-gen-z-shapes-sustainable-luxury-fashion-through-digital (Accessed: November 10, 2022). 

Sabanoglu, T. (2021) Fashion Industry Worldwide 2021: Leading countries, Statista. Available at: https://www.statista.com/statistics/1202694/fashion-industry-leading-countries-worldwide/ (Accessed: November 10, 2022). 

People is the second pillar of sustainability (along side planet, profit, and purpose). People is defined as the diverse demographic which relates to a range of different consumers and their own personal: size, age, race, height and style. The current group of consumers in the market can be described as ‘gen z’

The ‘gen z’ consumer can be described as ‘the demographic cohort succeeding Millennials and preceding Generation Alpha. Researchers and popular media use the mid to late 1990s as starting birth years and the early 2010s as ending birth years.’ Gen z is the ‘youth’ of our generation. Gen z is known in the fashion industry to have promoted a positive, and much needed change in the outlook of the fashion world. They have made impact on the issues in which brands were facing (such as the sustainability issue). Gen z have really rose the issue in which the industry has had impacting the environment negatively and the way fashion is harming the world we live in and need to protect. People is a main input in the industry and a push in what will be successful. We have seen a rise mainly recently in the amount of sustainable fashion and many brands changing their materials in order to better our planet. Forbes discovered that 62% of Generation Z prefer to purchase from sustainable brands and are willing to pay more for ethically produced goods. 

Diversity is also something that the ‘people’ pillar focus on. In the gen z group, diversity is key and fashion brands need to adapt to diversity and accept that this is something that we look for as a customer. A brand in which has adapted well to diversity in the industry is good American. Good American, led by Emma Grede and Khole Kardashian, has a mission to have every woman seen and heard. This mission alone promotes a positive outlook to diversity and how they are working to produce this. ‘The brand has an annual nationwide casting call for diverse women to model in its seasonal ad campaigns and showcases a model in every size (00 to 24)’. This size range clearly shows how diversity is key, as they want to make sure that consumers of every size can shop from the brand. This defers to some brands such as brandy Melville, which is a very slim based brand. When you shop from a brand in which is diverse such as good American, it really appeals to the customer and makes you want to shop from this brand compared to competitors. 

Generation Z (2022) Wikipedia. Wikimedia Foundation. Available at: https://en.m.wikipedia.org/wiki/Generation_Z (Accessed: November 10, 2022). 

Panel®, E. (2022) Council post: 11 brands that successfully model diverse and inclusive advertising, Forbes. Forbes Magazine. Available at: https://www.forbes.com/sites/forbescommunicationscouncil/2022/07/15/11-brands-that-successfully-model-diverse-and-inclusive-advertising/?sh=73c6fd3557b9 (Accessed: November 10, 2022). 

Person (2022) How gen Z shapes sustainable luxury fashion through digital, Sustainability Magazine. Available at: https://sustainabilitymag.com/sustainability/how-gen-z-shapes-sustainable-luxury-fashion-through-digital (Accessed: November 10, 2022). 

In today’s World, it is no secret of the impact in which fashion and sustainability has on our planet. The planet is one of the major pillars in the fashion industry. The planet pillar is referenced by the responsibility of how eco-friendly we treat the planet by buying sustainable clothes, compared to those in which are damaging to the environment and hurting our planet, such as materials used in primarily fast-fashion in which are creating landfills, and impacting global warming in which is damaging the planet we live on and need to protect. In the context of fashion, sustainability is defined as ‘the environmental impacts of making (raw material creation, processing, and manufacture), wearing, and caring for (use) and the disposal of clothing (end of use).’ Four main issues surrounding this pillar and sustainability in the fashion industry include: water consumption, energy emissions, chemical usage and waste creation. It is thought that only 20% of fashion in the planet today is recycled. This results in the fashion industry being one of the bigger polluters in the world. This is something in which we need to work to improve to stop these issues and create a better, healthier planet.

Circular economy

‘A circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible‘.

The circular economy is based on three main principles referencing to ‘design out waste and pollution, keep products and materials in use, and to regenerate natural systems’. The aim therefore of a circular economy is to reuse, and not to waste materials on the planet using the process of reduce, reuse, and recycle.

Sustainable development goals

Sustainable development goals are formed of 17 goals in which have been made to try better our planet in 2015, aimed to be met by 2030. The SDG’s recognise that the development in one area should help improve all four pillars in the fashion industry, including the welfare of our planet. One goal is ‘good health and wellbeing’ this is goal number 3 of the SDG. ‘ensure healthy lives and promote well-being for all at all ages’

This image shows that COVID-19 had a massive impact on this goal from the SDG. Covid-19 affected the fashion industry in a massive way in multiple factors and is still something in which effects the planet, and the industry largely today.

References

En.wikipedia.org. 2022. Circular economy – Wikipedia. [online] Available at: <https://en.wikipedia.org/wiki/Circular_economy> [Accessed 11 October 2022].

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Google.com. 2022. Redirect Notice. [online] Available at: <https://www.google.com/url?sa=i&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FCircular_economy&psig=AOvVaw0jCJIEH9XxfpUPLm0HGrXb&ust=1665567648529000&source=images&cd=vfe&ved=0CAgQjRxqFwoTCNirrpPx1_oCFQAAAAAdAAAAABAD> [Accessed 11 October 2022].

Sdgs.un.org. 2022. Goal 3 | Department of Economic and Social Affairs. [online] Available at: <https://sdgs.un.org/goals/goal3> [Accessed 11 October 2022].

STUDY 34. 2022. What Does ‘Sustainable’ Fashion Mean? STUDY 34. [online] Available at: <https://www.study34.co.uk/pages/what-is-sustainable-fashion> [Accessed 11 October 2022].