People
People are the core focus of all organisations who are looking to be successful. This means that companies must consider the changing attitudes and views of the market and consumers to achieve sales.
Generation Z consumers are born between 1996 and 2010, along with their year of birth, other characteristics, and life experiences band this group together. For example, Gen Z had their early life shaped by seeing the first black president in the US which “Gen Z watched in wonder and internalized a deep sense of progression” (Fromm and Read, 2018). This led to Gen Z becoming more socially conscious and having diverse mindsets meaning brands had to adapt practices to accommodate this ‘new way of thinking. This means fashion brands must sway away from Eurocentric advertising commonly seen in the fashion industry in the 80s.
Because of this shift in the younger generation’s behavior, brands that embrace diversity have seen enormous success. For example, lingerie brand Savage x Fenty is worth around $270 million which could be argued is due to the brand’s immense strides in the right direction towards inclusivity and diversity within the fashion industry (The business of fashion, n.d.). Including people of all races, sex, sizes, and abilities, Savage x Fenty has been able to win over Gen Z as it makes the fashion brand more approachable as opposed to the luxury brand Victoria’s Secret whose specially selected models made their products seem out of reach. However, the rest of the industry has a long way to go as only 0.8% of advertising includes people with disabilities.
Along with brands being able to attract Gen Z through promoting diversity within the organisation, with the technological advancements of this generation, brands must market their products differently to reach Gen Z consumers as they are described as being able to pinch, swipe and zoom as soon as they come out of the womb (Fromm and Read, 2018). This means fashion brands need to develop practices that cater to Gen Z using their mobile phones more frequently compared to any other form of technology (Fromm and Read 2018). For example, eyewear brands such as Ace & Tate have integrated technology into their websites which allow the customer to virtually try on the glasses before purchasing them in the comfort of their own home. Therefore, brands must heavily invest into research and development of technology such as AI to satisfy Gen Z consumer wants and needs.
Bibliography:
The Business of Fashion. (n.d.). Rihanna Is Now Worth $1.7 Billion, Thanks to Fenty Beauty and Savage Lines. [online] Available at: https://www.businessoffashion.com/news/beauty/beauty-and-lingerie-lines-help-rihanna-become-a-billionaire/.
Fromm, J. and Read, A. (2018). Marketing to Gen Z : the rules for reaching this vast and very different generation of influencers. New York: Amacom.
Image reference:
Cat-Wells, K. (n.d.). Shaholly Ayers On Savage X Fenty: A More Inclusive Fashion And Advertising Landscape. [online] Forbes. Available at: https://www.forbes.com/sites/keelycatwells/2021/10/16/shaholly-ayers-on-savage-x-fenty-a-more-inclusive-fashion-and-advertising-landscape/?sh=1b47a8a91d43