People
Different groups of people are important key points to consider in the fashion business industry, for example, different cultures and customs or social relations. Consumers pay close attention to whether brands are giving satisfaction to their needs. With the increasing diversity of fashion products today, the fashion industry is promoting different merchandising strategies to appeal to different age groups (Ahuja, 2015). According to statistics, Gen Z contains 41% of the world’s impulse consumers (Djafarova, 2020; Bowes, 2020). They frequently use technology networks to purchase and consume their goods and are known as the “digital media demographic” (Djafarova, 2020; Bowes, 2020). Gen Z is the largest generation, accounting for approximately 32% of the global population, and is expected to have a significant impact on global consumer sales (Djafarova, 2017; Rushwoeth, 2017).
A fashion brand needs to consider a strategy to promote consumers to purchase its products. For example, a purpose is what a brand genuinely focuses on the issues facing society. Nowadays, there are 55% of Gen Z choose brands that use eco-friendly and socially materials (Thomas, 2020), A brand called TOMS Shoes has achieved how to increase purchasing power and also transmit information to raise awareness for a generation to improve the world (TOMS Shoes, 2022). The Gen Z demographic, known as living with the data age, spends a lot of time on the internet. Therefore, brands need to understand what marketing strategies will get the attention of the Gen Z. Video ads like Red Bull’s, offering a variety of active lifestyle videos like skydiving in Lake Tahoe, these are the reason the brand has garnered more than a few million subscribers on YouTube (Luce, 2022).
Rihanna’s brand Fenty Beauty significantly represents how to express diversity. Firstly, Fenty Beauty’s foundation has more than 40 shades. It has further advanced the shaping shape of the beauty industry, allowing all shades to find beauty status (Mayo, 2021). Not just for the beauty industry, Fenty Beauty’s lingerie collection is also an important place to represent an examination of style, body image, and institutional concepts with her new lingerie collection aimed at a wide range of women with different body types (Lian, 2022; Gwynne, 2022). It also shows an example of a long overdue category of diversity and inclusiveness.
Many competencies can drive a brand to success. For example, the ability to empathize with people who can take a different perspective on different issues in contemporary society and use corresponding strategies to achieve success. Secondly, the ability to innovate is key to the economic success of a brand in the face of the web-surfing Gen Z. Capturing the characteristics of this demographic and delivering content of interest is key to increasing the purchasing power of the brand.
References
Djafarova, E. and Bowes, T. (2020). ‘Instagram made Me buy it’: Generation Z impulse purchases in fashion industry. Journal of Retailing and Consumer Services, [online] 59(59), p.102345. doi:10.1016/j.jretconser.2020.102345.
Djafarova, E. and Rushworth, C. (2017). Exploring the credibility of online celebrities’ Instagram profiles in influencing the purchase decisions of young female users. Computers in Human Behavior, 68(1), pp.1–7. doi:10.1016/j.chb.2016.11.009.
Ahuja, N. (2015). ‘Effect of Branding On Consumer Buying Behavior’: A Study in Relation to Fashion Industry. Journal of Research in Humanities and Social Sciences, [online] 34(34),pp. 32-34. www.raijmr.com.
TOMS. (n.d.). TOMS® Official Site | We’re in business to improve lives. [online] Available at: https://www.toms.com/uk/impact-emea/report-emea.html.
Luce, J. (2022). How to Attract and Market to Gen Z Customers. [online] Simplr. Available at: https://www.simplr.ai/blog/how-to-attract-and-keep-generation-z-customers.
Mayo, J (2021). Fenty Beauty and Its Contribution to Diversity and Inclusivity in the Beauty Community. [online] Available at: https://www.linkedin.com/pulse/fenty-beauty-its-contribution-diversity-inclusivity-community-mayo.
Lian, J. and Gwynne, J. (2022). What Does It Take to Be ‘Savage’?: Diversity, Empowerment and Representation in Rihanna’s Savage × Fenty Fashion Show. Palgrave Studies in (Re)Presenting Gender, pp.99–113. doi:10.1007/978-3-030-99154-8_6.