INTRODUCTION –

‘’A strong sense of purpose will give brands a competitive advantage in a crowded market.’’ It has become of the biggest factors to encourage a purchase, considering the amount of similar options in the market (Baldwin, 2022). The purpose of a brand helps establish an emotional connection with customers (Kowalewicz, 2022). They are in the search for brands that can contributes to their wellbeing, eudemonic and hedonic (Gwilt, 2020). The purpose should be considered the foundation for mission, vision and values. Everything related to a brand should reflect said purpose. Most importantly the people working for the brand have to be able to clearly communicate it through the models, marketing and design (deBara, 2022).

BRAND PHILOSOPHY –

The philosophy of a brand defines a business. It guides the identity of a brand, highlighting what it stands for and against, having an impact on customer loyalty (Silva, 2020). Actions are affected by beliefs, and for that reason it is crucial to have a strong brand philosophy in place (Song, 2015). The philosophy of a brand is composed by a mission, vision and value proposition. All of these allowing the brand to differentiate from others (Mogaji, 2021).

Mission: 

• Answers to the question of ‘’What?’’ the company wants to be (Meyer-Cuno, 2021).
• It is the reason for which the brand exists (Santos, 2021).
• It is important as it increases chances of success significantly (Mannino, 2020).

Vision: 

• Answers the question of ‘’Why?’’ the company exists (Meyer-Cuno, 2021).
• It defines the path the business will follow in the long term (Santos, 2021).
• It is important as it gives provides businesses with a direction (Mannino, 2020)

Value proposition: 

Defines why costumers should buy from one business instead of the competition, presenting themselves as the best possible choice. It is important as it can be the reason of making or losing a sale. (Coleman, 2022)

These three elements should be taken into account before making any business decisions, they become the personality of a business and brand (Santos, 2021) (Song, 2015).

COMMUNICATING WITH GEN Z –

Gen Z wants brands to actively get involved with social issues and participate in solving these. Therefore, by supporting these brands they feel like their investments will have positive consequences in society (Curry, 2020). The most popular brands amongst this generation are those driven by a strong sense of sustainability and purpose, and the best way for businesses to make themselves heard is through social media. Here they can develop their brand personality even further and engage in a more meaningful way with customers until they gain their trust (BOF team, 2020).

REFERENCES:

Baldwin, A. 2022. Why Purpose is the New ‘Must Have’ for Luxury Brands. [Online]. [Accessed 09/11/2022]. Available from: https://thisisreset.com/why-purpose-is-the-new-must-have-for-luxury-brands/

Kowalewicz, R. 2022. Defining Your Brand’s Purpose. [Online]. [Accessed 09/11/2022]. Available from: https://www.forbes.com/sites/forbesagencycouncil/2022/01/12/defining-your-brands-purpose/?sh=20d590a01e43

Gwilt, A. 2020. A Practical Guide to Sustainable Fashion. 2^nd ed. London, UK: Bloomsbury Publishing Plc

DeBara, D. 2022. What is a Brand Purpose and Why is it Important?[Online]. [Accessed 09/11/2022]. Available from: https://www.canva.com/learn/brand-purpose-important/

Silva, P. 2020. Why Philosophy Has Much To Do With Brand-Building (And What That Looks Like). [Online]. [Accessed 09/11/2022]. Available from: https://www.forbes.com/sites/piasilva/2020/11/19/why-philosophy-has-much-to-do-with-brand-building-and-what-that-looks-like/?sh=5d6b873471f9

Mogaji, E. 2021. Brand Philosophy. In: Brand Management. London, UK: Palgrave Macmillan, Cham

Meyer-Cuno, D. 2021. Is a Vision Statement Important? [Online]. [Accessed 09/11/2022]. Available from: https://www.forbes.com/sites/forbesbooksauthors/2021/02/24/is-a-vision-statement-important/?sh=2f15b7813be7

Santos, D. 2021. 3 Claves Para Definir la Filosfía de tu Empresa (+ 10 ejemplos). [Online]. [Accessed 09/11/2022]. Available from: https://blog.hubspot.es/marketing/filosofia-empresas

Mannino, S. 2020. Why Every Brand Needs a Mission Statement. [Online]. [Accessed 09/11/2022]. Available from: https://www.forbes.com/sites/forbesbusinesscouncil/2020/08/26/why-every-brand-needs-a-mission-statement/?sh=75186371eb37

Coleman, B. 2022. How to Write a Great Value Proposition [5 Top Examples + Template]. [Online]. [Accessed 09/11/2022]. Available from: https://blog.hubspot.com/marketing/write-value-proposition

Song, S. 2015. The Influence of the Philosophy of Science on Brand Loyalty. Journal of Global Scholars of Marketing Science. 25(2), pp. 167-181

Curry, L. 2020. How Brands Can Follow Through on the Values They’re Selling. [Online]. [Accessed 09/11/2022]. Available from: https://hbr.org/2020/08/how-brands-can-follow-through-on-the-values-theyre-selling

BOF Team. 2020. How to Communicate and Connect with Gen-Z Consumers. [Online]. [Accessed 09/11/2022]. Available from: https://www.businessoffashion.com/articles/retail/afterpay-communicate-and-connect-with-gen-z-consumers/

Image References

Fig. 1: Aziz, A. 2022. Brand Purpose Pie Chart. [Online]. [Accessed 09/11/2022]. Available from: https://www.canva.com/learn/brand-purpose-important/

Fig. 2: Hubspot. 2022. Value Proposition Canvas. [Online]. [Accessed 09/11/2022]. Available from: https://blog.hubspot.com/marketing/write-value-proposition

INTRODUCTION –

Profit is money gained after providing a service or product, the difference between cost and production service (Cambridge Dictionary, c2022). In a capitalist society, profit has a direct impact on the economy. There are different understandings of how profit should be measured (Nelson, 1967). Numerically speaking, the fashion industry is predicted to be worth $1.7 trillion and £60.1 billion in the UK (Radonic, 2022).

FASHION INDUSTRY SIZE –

Until 2019, the industry’s economic profit was increasing by 4% yearly. However, since Covid-19 it fell by 93% in 2020 (McKinser & Company, 2021). The fashion industry is considered the 7^th largest economy in the world, and by 2022 ecommerce is predicted to make $5.5 trillion in sales (FashionUnited, c2022). It is difficult to measure the industry size, social media now plays a role in facilitating connections and businesses have a larger reach to the public (Hethorn and Ulasewicz, 2021).

PERFORMANCE BY SECTORS –

• Textiles: 85% of the materials used in the industry are polyester and cotton, yet the biggest suppliers are facing poverty (Sovacool, 2019).

• Manufacturing: decrease in manufacturing impacted global production, consumption and employment (Chakraborty and Biswas, 2020)

• Retail: all UK sales dropped by 2% in 2020 since Covid-19, but the drop of in store sales pushed forward online sales (Khaliq, 2021)

• Marketing: Covid-19 evoked new strategies making of the sector specialised in e-tailing (Chan et al, 2022)

REMAINING COMPETITIVE –

Some techniques to remain competitive in uncertain times, as experienced with Covid-19:

• Focus on existing customers: it is harder to get new customers than to maintain existing ones, care for them is important. 
• Make use of new platforms: keeping up with social is crucial to not be forgotten and attract new potential customers.
• Build a strategy: analysing consumer behaviour will make clear what marketing techniques should be used in each case.

(Clausen, 2020)

CREATIVITY AND COMMERCE –

Creative directors manage a brands marketing, they understand and bridge the business and consumer perspective (Prospects, c2022). Consumers have an idea of worth for creativity; businesses must be able to match this and consider profit (Crock, 2017).  Bourdieu describes art and commerce are extreme opposites, freedom vs control (Stevenson, 2019). Using celebrities to represent a brand has many benefits as consumers want to look like them, they associate positive traits of celebrities with the products and are more likely to develop loyalty to a brand (Mitterfellner, 2019). Additionally, fashion runways allow designers and consumers to connect. As artwork is promoted so elaborately, brands are able to improve brand image and the value customers accord them (KIFT, c2020).

REFERENCES:

Chakraborty, S. and Biswas, M. C. 2020. Impact of COVID-19 on the Textile, Apparel and Fashion Manufacturing Industry Supply Chain: Case Study on a Ready-Made Garment Manufacturing Industry. Journal of Supply Chain Management, Logistics and Procurement. 3(2), pp. 1-19

Chan, H. Kwok, Y. and Wong, S. 2022. [Pre-print]. Marketing and Operational Strategies During the COVID-19 Pandemic: A Case Study of a Hong Kong Footwear Enterprise. Journal of Fashion Marketing. 

Clausen, E. 2020. Marketing Rules To Follow During Uncertain Economic Times. [Online]. [Accessed 23/10/2022]. Available from: https://www.forbes.com/sites/forbesagencycouncil/2020/04/03/marketing-rules-to-follow-during-uncertain-economic-times/?sh=3bb951b04a36

Crook, J. D. S. 2017. Compelling Fashion Business: Bridging The Divide Between Creative Vision And Commercial Reality. [Online]. [Accessed 23/10/2022]. Available from: https://www.arts.ac.uk/colleges/london-college-of-fashion/stories/compelling-fashion-business-bridging-the-divide-between-creative-vision-and-commercial-reality

Fashion United. Global Fashion Industry Statistics. [Online]. [Accessed 19/10/2022]. Available from: https://fashionunited.com/global-fashion-industry-statistics

Hethorn, J. and Ulasewicz, C. 2021. Sustainable Fashion What’s Next?: A Conversation about Issues, Practices and Possibilities. London, UK: Fairchild Books

Khaliq, M. 2021. Impact of the Coronavirus (COVID-19) Pandemic on Retail Sales in 2020. Office for National Statistics. pp. 1-14

KIFT. c2022. How Fashion Shows Influencing the Fashion Market. [Online]. [Accessed 19/10/2022]. Available from: https://kiftfashioncollege.com/fashion-shows/

McKinsey & Company. 2021. Fashion Industry’s Profits Hemmed in by the COVID-19 Pandemic. [Online]. [Accessed 18/10/2022]. Available from: https://www.mckinsey.com/featured-insights/coronavirus-leading-through-the-crisis/charting-the-path-to-the-next-normal/fashion-industrys-profits-hemmed-in-by-the-covid-19-pandemic

Mitterfellner, O. 2019. Fashion Marketing and Communication: Theory and Practice Across the Fashion Industry. Oxon, UK: Routeledge

Prospects. c2022. Job Profile: Creative Director. [Online]. [Accessed 17/10/2022]. Available from: https://www.prospects.ac.uk/job-profiles/creative-director

Sovacool, B. K. 2019. The Precarious Political Economy of Colbalt: Balancing Prosperity, Poverty, and Brutality in Artisanal and Industrial Mining in the Democratic Republic of the Congo. The Extractive Industries and Society. 6(3), pp. 915-939.

Steele, V. 2022. Fashion Industry. [Online]. [Accessed 19/10/2022]. Available from: https://www.britannica.com/art/fashion-industry

Stevenson, C. 2019. (I Was There) When it All Went Down. Vestoj.9

Stevenson, H. W. and Nelson, J. R. 1967. Profits in the Modern Economy: Selected Paper From a Conference on Understanding Profits. Minnesota, USA: University of Minnesota Press

IMAGE REFERENCES:

Fig. 1: McKinsey & Company. 2021. The global fashion industrys profit is expected to fall by 93 percent in 2020.[Online]. [Accessed 23/10/2022]. Available from: https://www.mckinsey.com/featured-insights/coronavirus-leading-through-the-crisis/charting-the-path-to-the-next-normal/fashion-industrys-profits-hemmed-in-by-the-covid-19-pandemic

Fig. 2: Office for National Statistics. 2021. Comparison of types of sales in 2020. [Online]. [Accessed 23/10/2022]. Available from: https://www.ons.gov.uk/economy/grossdomesticproductgdp/articles/impactofthecoronaviruscovid19pandemiconretailsalesin2020/2021-01-28

Fig. 3: Vogue. c2022. Vogue runway. [Online]. [Accessed 21/10/2022]. Available from: https://www.vogue.com/fashion-shows

INTRODUCTION –

When considering sustainable fashion it is important to think what exactly is being sustained, it is people. A qualitative business approach where people is prioritised is required in the current market (Hethorn and Ulasewicz, 2021). As an industry with around 75 million employed individuals, a people strategy is the only way to succeed in being sustainable and sustained (Lewis, 2022).

GEN Z CONSUMERS –

Individuals born between 1995-2010 are Gen Z, described as digital natives (Francis and Hoefel, 2018). The Covid-19 pandemic emphasised this as shopping experiences became digital, making evident they prefer experiences that provide a higher sense of control (Moran, 2022). Studies on consumer patterns describe this generation as seekers of truth. Individuality, inclusivity and purpose is valued in ways that links back to the community and is not confined to the self (Francis and Hoefel, 2018).

WHAT ATTRACTS GEN Z –

The challenge of attracting Gen Z to a brand lies in how transparency can be transmitted through social media (Mitterfellner, 2019). Key attracting elements are: 

• Sustainability: reduced negative impact on surroundings. 
• Diversity: accurate representation of their public. 
• Super convenience: quick an easy services.

(Moran, 2022)

BRAND DIVERSITY –

Kim Kardashian founded SKIMS in 2019, focusing in inclusivity through body positivity (Weinstock, 2021). They went through multiple stages finding the right way of presenting themselves to the public. Initially, the chosen name was Kimono, Kim explained this as a play of words around her name. Yet, when made public it was rapidly classified as appropriation of Japanese culture. Almost cancelled by Gen Z, they revaluated the situation and found a solution with the new name SKIMS. Some elements making it so diverse include ranging sizes from XXS-XXXXL and nine shade option changing the norm of black and nude from other brands (Robert, 2019).

“It Felt Like The Perfect Time To Bring A Fresh Perspective”

(Kardashian, 2021, cited in Weinstock, 2021)

SKILLS FOR SUCCESS –

People skills include knowing, caring and being able to attract customers. Businesses need to adapt to the new inquisitive customer that invests in what aligns with their values. Businesses care about customers and customers care about the people making up a brand.  (Dillon, 2021). Futuristic aspects have also become attracting. The topic of a metaverse has some scepticism but many want to believe in such exciting possibility (Moran, 2022). Additionally, reviewing the psyche of the buyer persona provides many possibilities to marketing. Psychologist Maslow designed a hierarchy of needs composed by 5 levels. Marketers can create a personalised approach where internal motivations are reviewed. The skill of implementing this knowledge increases chances of success (Andrews, 2019).

REFERENCES:

Andrews, S. 2019. Are You Using Maslow’s Hierarchy Of Needs For Your Marketing?. [Online]. [Accessed 13/10/2022]. Available from:https://www.forbes.com/sites/forbesagencycouncil/2019/10/28/are-you-using-maslows-hierarchy-of-needs-for-your-marketing/?sh=3f5e31a84f6b

Dillon, S. 2018. The Fundamentals of Fashion Management. 2^nd ed. London, UK: Bloomsbury Visual Arts

Francis, T. and Hoefel, F. 2018. The influence of Gen Z—the first generation of true digital natives—is expanding. [Online]. [Accessed 16/10/2022]. Available from: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies

Hethorn, J. and Ulasewicz, C. 2021. Sustainable Fashion What’s Next?: A Conversation about Issues, Practices and Possibilities. 2^nd ed. London, UK: Fairchild Books

Lewis, J. 2022. The Pillars of a Sustainable Fashion Business Model. [Online]. [Accessed 16/10/2022]. Available from: https://motif.org/news/sustainable-fashion-business-model/

Mitterfellner, O. 2019. Fashion Marketing and Communication: Theory and Practice Across the Fashion Industry. New York, USA: Taylor & Francis Group

Moran, G. 2022. Gen Z and Millennials 2022. [Online]. [Accessed 15/10/2022]. Available from: https://www.drapersonline.com/guides/gen-z-and-millennials-2022

Robert, Y. 2019. What Kim Kardashian West Got Right With SKIMS. [Online]. [Accessed 11/10/2022]. Available from: https://www.forbes.com/sites/yolarobert1/2019/09/24/what-kim-kardashian-west-got-right-with-skims/?sh=22b1d3558258

Weinstock, T. 2021. “It Felt Like The Perfect Time To Bring A Fresh Perspective”: Kim Kardashian West On Revolutionising Shapewear. [Online]. [Accessed 16/10/2022]. Available from: https://www.vogue.co.uk/news/article/kim-kardashian-west-future-of-skims

IMAGE REFERENCES:

Figure 1: McKinsey & Company. 2018. The Search for the Truth is at the Root of all Generation Z’s Behavior. [Online]. [Accessed 12/10/2022]. Available from: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies

Figure 2: SKIMS. 2021. SKIMS Product Photoshoot. [Online]. [Accessed 16/10/2022]. Available from: https://www.vogue.co.uk/news/article/kim-kardashian-west-future-of-skims

Figure 3: National Highway Institute. 2021. Maslow’s Hierarchy of Needs. [Online]. [Accessed 17/10/2022]. Available from: https://www.nhi.fhwa.dot.gov/LearnersFirst/maslows-hierarchy-of-needs.htm

INTRODUCTION –

When considering sustainability in the fashion industry, its impact on the planet needs to be taken into account. The industry has been labelled as one of the most polluting in the world, having a negative impact on the environment due demands for rapid production of garments. It is contributing to around 10% of carbon emissions, releasing significant amounts of microplastics into water sources and participating in deforestation by replacing biodiverse forests for fabric plantations (Charpail, 2017). The social development goals set by the United Nations in 2015 targeting the pillar of planet aspire that the resources we count with can support the needs of present and future generations (Brown and Rasmussen, 2019).

CIRCULAR ECONOMY –

A circular economy model is a system where goods are taken at the end of their service life to be utilised again as resources for something new. The idea is not to allow said goods to leave the cycle, reducing waste. This concept changes the normative replacing new production with longevity by reusing, recycling and repairing. Studies on this model found it could reduce carbon emissions by up to 70% if widely implemented across nations (Stahel, 2016). At different market levels, clothing characteristics might vary but production process tend to be the same, making circular economy a possible reality for most fashion brands. To do this, it is important to think about the item from the beginning of its production stage to the end-of-life destination. The EcoMetrics tool could help the industry measure the environmental impact of different textiles and cause a reconsideration of choices (Gwilt, 2020).

SUSTAINABILITY IN FASHION –

Fashion consumers have shown an increasing interest in sustainable shopping since 2020, as consumers start to make better choices businesses are obligated to listen to these demands. This means taking an ethical approach in energy sources, fabric selection, and product transportation. Additionally, recycling schemes need to be implemented to facilitate the redirection of unwanted clothes into circular economy. This has already been put in practice by high street brands like H&M. However, sustainable fashion cannot happen without transparency. This, in combination with greenwashing is often seen in fast fashion as they prioritise quick consumption. Therefore, slow fashion or second-hand shopping is preferable. (Thomas, 2022).

SUSTAINABLE DEVELOPMENT GOAL #12 –

Responsible consumption and production is more than thinking about the materials and processes behind turning these into clothing in a responsible way. It’s understanding that economic growth should be a separate idea from destroying the environment. These two shouldn’t be equalled and should be treated separately. (Swatski, 2021). Sustainability in the past was the norm as the market wasn’t as globalised, materials that were once limited to certain world regions are now accessible to all businesses. Sustainability became an option, and the fashion industry should aim to succeed in this goal. (Hethorn, 2021)

REFERENCES:

Brown, K. and Rasmussen, K. 2019. The Sustainable Development Goals in 2019: People, Planet, Prosperity in Focus. [Online]. [Accessed 13/10/2022]. Available from: https://unfoundation.org/blog/post/the-sustainable-development-goals-in-2019-people-planet-prosperity-in-focus/

Charpail, M. 2017. What’s Wrong with The Fashion Industry. [Online]. [Accessed 13/10/2022]. Available from: https://www.sustainyourstyle.org/en/whats-wrong-with-the-fashion-industry

Gwilt, A. 2020. A Practical Guide to Sustainable Fashion. 2^nd ed. London, UK: Bloomsbury Visual Arts. 

Hethorn, J. and Ulasewicz, C. 2015. Sustainable Fashion What’s Next?: A Conversation about Issues, Practices and Possibilities. 2^nd ed. London, UK: Fairchild Books. 

Stahel, W. R. 2016. The Circular Economy. Nature. 531, pp. 435-438. 

Swatski, A.2021. Sustainable development goals: How can the fashion industry support it? [Online]. [Accessed 13/10/2022]. Available from https://fashinnovation.nyc/sustainable-development-goals-how-can-the-fashion-industry-support-it/

Thomas, C. 2022. How sustainable initiatives are shaping the fashion world. [Online]. [Accessed 13/10/2022]. Available from: https://www.arts.ac.uk/study-at-ual/short-courses/stories/how-sustainable-initiatives-are-shaping-the-fashion-world

IMAGE REFERENCES:

Fig 1: Klum, A. 2021. Greta Thunberg for Vogue Scandinavia. [Online]. [Accessed 13/10/2022]. Available from: https://www.voguescandinavia.com/articles/greta-the-great

Fig 2: Hollyharryoz. c2022 Circular economy model. [Online]. [Accessed 13/10/2022]. Available from: https://www.dreamstime.com/circular-economy-textiles-make-use-reuse-remake-recycle-eco-clothes-icon-sustainable-fashion-concept-image197995180

Fig 3: Gearson, T. 2019. Wearing upcycled and regenerated clothing. [Online]. [Accessed 13/10/2022]. Available from: https://www.vogue.com/article/sustainability-2020s-circular-fashion-textile-recycling

Fig 4: United Nations. 2022. Responsible production and consumption. [Online]. [Accessed 13/10/2022]. Available from: https://sdgs.un.org/goals/goal12

Purpose creates the brand image using ‘brand philosophy’ (Author, W.D, 2022) to create positive outlooks from the customer perspective. They do this by using brand values stated within the mission and vison. This makes the brand distinguish themselves int the customer perspective by having brands influence help the planet and people while still creating a profit. 

The brands philosophy creates the company’s culture made-up of everything they do to be seen within a certain way by the customer. (Heramis, 2020) It is their ‘way of doing things’ that will create this since of belief in the company. Everything a brand does including the mission statement and the values of the company can change the outlook of a customer’s perspective. Therefore, the philosophy of the brand it is not made-up of just one thing but many.

The mission of a company is usually their objectives that make up the purpose of the company. This can be broad and might state their diversity and sustainability objectives. The company will have a mission statement on their website, which shows what the business does and the impact they make. (Aboulhosn, 2020)

The vision of a company is what they plan for the future. This can show what a brand is trying to be and do for the planet and the people such as customers and employees.

Value of a company is not just what it is worth financially but how often a customer chooses them over a competitor. (Wilkinson, 2021)

Proposition of a company is the statements they make to the customers to engage their target audience. This lays out the benefits of the brand and shows how clear and complete statements create concrete values.

The mission, vision, value, and proposition are important to the brand as it creates the fundamentals of the purpose and what they do to increase customer satisfaction and the work values of the employees. This means that the brand can create customer trust once they reach their target goals proving that they can act on their statements. 

A company will market their purpose and values on platforms like social media where ‘Generation Z spend 10.6 hours engaging with online content’ (Arise, 2022). This gives them an opportunity to engage with their target audience. Gen-Z is known for cancelling celebrities and brands that don’t meet their values, this includes diversity and sustainability. This is due to this generation growing up with rapid social change and technological change. Brands are now having to state their values and act on them in all order to keep this generations trust and therefor custom. They do this through marketing on social media or celebrity endorsements who align with their values. 

reference list:

■Author, W.D. (2022) Elements of branding philosophy: Brand strategy, Workspace Digital. Available at: https://workspace.digital/elements-of-branding-philosophy/ (Accessed: October 30, 2022). 

■shela-heramis (2020). What Is Brand Philosophy? [+How To Find Yours]. [online] Brand Master Academy. Available at: https://brandmasteracademy.com/brand-philosophy/.

■Aboulhosn, S. (2020). What is a brand mission and how to define it. [online] Sprout Social. Available at: https://sproutsocial.com/insights/brand-mission/.

■Wilkinson, M. (2021). 6 Experts Discuss the Importance of Brand Value. [online] latana.com. Available at: https://latana.com/post/brand-value-worth/.Arise. (2022). Generation Z spend 10.6 hours a day engaging with online content every day. [online] Available at: https://wearearise.com/generation-z-spend-10-6-hours-a-day-engaging-with-online-content-every-day

The purpose of a brand includes both internal and external factors and evolves around wellbeing. Wellbeing according to the American Psychological Association, wellbeing is a state of happiness with low levels of distress (APA, n.d).There are two types of wellbeing: eudaimonic and hedonistic where eudaimonic well being tries to focus on the brands ‘do good’ factor which in turn makes them and their customers feel good about associating with that brand name. For example, tentree aims to plant 10 trees upon any item in their product being purchased making the consumer feel confident having participated in helping the planet. 

Brand philosophy is unique to the brand itself and is what makes up the brand; essentially it is a brand’s core belief system. A mission statement declares the purpose of the brand to their customers; every brand has a mission statement. For example, Asos’ mission statement is “to inspire young people to break down barriers and, ultimately, to achieve amazing things” whilst also having their 2030 vision/strategy of sustainability, however, as a brand, Asos have not done well in working towards their 2030 vision as they are a fast fashion unsustainable brand that produces lots of waste. A unique perspective on brand philosophy is Katie Ledgers proposed ‘Shed Me Project’ (fig6) which looks at the brands purpose of sustainability and the wear re using the garment in more than one way (Gwilt, 2014) 

Brands can communicate their purpose with Gen Z in many ways, most importantly who the brand chooses to associate themselves with (people) or movements they stand behind as these align with Gen Z’s beliefs. A brand that has a purpose for equality and focuses on consumers feeling valued and happy within themselves e.g ‘Savage X Fenty’ can choose to show their stand to the Black Lives Matter campaign as the core belief of this movement is equality showing Gen Z their true purpose and choosing to stick with it.

REFERENCES

APA (n.d) – APA Dictionary of Psychology 

https://dictionary.apa.org/well-being

Gwilt, A (2020) – A Practical Guide to Sustainable Fashion 

https://ebookcentral.proquest.com/lib/ual/reader.action?docID=6234061

“purpose “is important in the branding, it gives a clear plan of how the whole line of the brand works, from design to listen consumer advice. The brand philosophy is a principle of mission, vision, and value proposition. It decides the way work is carried out within the company and with clients and govern the way of communicating with partners, competitors, and customers. (Bhasin, 2019) therefor, this helps the brand to find its positioning and direction quickly and to follow the plan smoothly.

In the fashion industry, the sharing economy can refer to activities such as swapping, renting, and reselling, thus enabling the extension of the life of clothes rather than the constant purchase of new products. At the heart of the fashion sharing economy is the idea of wearing, not exactly buying and selling, to achieve the original intention of not wasting and wearing clothes. (MacGilp, 2021) For example, Tulerie, is a peer to peer, an invite-only fashion rental company which allows users to rent clothing, shoes, and accessories between themselves via an app. The Tulerie philosophy is offer the high-quality products and luxury goods. (Benoualid, 2019)

“Three key measures of Gen Z consumption: consumption as a way of acquiring, not owning. (Bof, 2020) Consumers also expect to see the authenticity of a brand’s offering and look for true alignment of values. Brands need to get themselves ‘out of the loop’ through promotional marketing to attract more consumers who share their value proposition. This will be followed by more brand events and visits to reinforce this group.

Sources:

Bhasin. H. (2019).  What is Brand Philosophy? Importance of having a Brand Philosophy. [online]. (Last updated 17 December 2019). Available at:  https://www.marketing91.com/brand-philosophy/[Accessed 20 October 2022]

Benoualid. C. (2019).  The Sharing Economy and its Impact on Fashion and Apparel. [online]. (Last updated 25 November 2019). Available at:  https://www.cgsinc.com/blog/sharing-economy-and-its-impact-fashion-and-apparel [Accessed 20 October 2022]

Bof.com. (2020). How do brands communicate and connect with gen z consumer. [online]. (Last updated 15 July 2020). Available at:https://www.businessoffashion.com/articles/retail/afterpay-communicate-and-connect-with-gen-z-consumers/ [Accessed 20 October 2022]

MacGilp. R. (2021). What the Fashion Sharing Economy Is, and How to Do It Right. [online]. (Last updated 3 March 2021). Available at:  https://ecocult.com/fashion-sharing-economy-swap-resale/ [Accessed 20 October 2022]

Purpose is an extremely significant concept for a company. Nowadays, as the resources in the world have been excessively used. A considerable factor for business is sustainable development: not only in the environmental aspect, but also for their innovation, idea they conveyed, the position in the whole market, etc.

The longevity of a company depends on its strategies. The company need to reflect on three factors: mission, vision, value proposition (Gee, 2022). That means it is deeply important to think where they are, why they exist, what important for operating. A living company know how to communicate to their consumers by different ways, thus the importance of brand philosophy can be easily observe.

For Gen Z, the issue of reuse and variety is still significant in their minds nowadays. Not only for they express their attitude through fashion, but the new fashion elements that are coming out are also making them concern about reducing the weight of their wardrobe.

Series of efforts have also been made to reuse. M&S has conducted a cooperation with the charity Oxfam to encourage consumers donate the clothes they no longer want so that they can recycle them to sell again (Gwilt, 2020). That is an example of sharing economy. Girl Meets Dress website is another typical example of sharing economy. They work as a shared wardrobe, providing various of two hand clothes in a cheaper price (girlmeetsdress). Thus, the people who pursuit fashion and diversity can purchase more suitable clothes. However, there still some difficulties for the reuse industry: the recycle problem, the wash problem, the safe problem which means they are hard to prove whether their products are clean.

Although there many difficulties, the development of secondhand market can not be stop. “In the US alone, the secondhand fashion market could grow 20 percent between 2020 and 2025 to reach $67 billion in size, according to estimates by BoF Insights.”(Chen, 2022, BoF).

Reference list

Chen, C. (2022, April 4). Can fashion resale ever be a profitable business? The Business of Fashion. Retrieved October 30, 2022, from https://www.businessoffashion.com/articles/retail/can-fashion-resale-ever-be-a-profitable-business/ 

Gwilt, A. (2020, July 9). ProQuest Ebook Central. ProQuest. Retrieved October 30, 2022, from https://ebookcentral.proquest.com/lib/fjpw/home.action