People
Within the fashion industry there are four economic cycle pillars of people, planet, purpose, and profit. The people sector plays a vital role in the fashion business, from the development of resources to the sales and promotion. I will be evaluating Gen Z in this blog, as a growing number of young generations are beginning to dominant the fashion industry in the modern era.
Gen Z refers to individuals born between the late 1990s and early 2010s. As consumers, Gen Z has unique characteristics and preferences that differentiate them from previous generations. For brands to successfully reach and interact with this broad and significant consumer niche, they must be aware of these characteristics. First off, Gen Z is very tech savvy and primarily relies on their devices for communication, entertainment, and shopping, they feel at ease using mobile payments and online buying, and they anticipate that brands will have a significant online presence. Moreover, Gen Z is more socially and culturally diverse than previous generations, they value and embrace diversity in all forms. They anticipate that brands will value diversity and inclusivity, incorporating a variety of viewpoints and life experiences into their advertising and product development. Additionally, Gen Z looks for individualised and distinctive experiences. They appreciate individuality and self-expression, favouring firms that provide personalization possibilities and limited-edition merchandise. They are more inclined to choose brands that provide them the freedom to stand out and exhibit their individual identities. Therefore, Brands should consider these strategies in order to attract Gen Z.
An example of a brand responding to diversity is Fenty Beauty, created by Rihanna. Fenty Beauty quickly gained popularity by releasing a wide range of foundation hues that suited to a variety of skin tones, including those frequently disregarded by conventional beauty brands. Fenty Beauty established a devoted following among Gen Z customers by embracing inclusivity and promoting different beauty standards.
Furthermore, there are many key people skills that fashion brands needed to obtain in order to be successful. Firstly, strong communication skills are essential for a fashion brand to effectively communicate its message, engage with customers, and establish connections with stakeholders. This includes the ability to communicate both orally and in writing through a variety of venues. Secondly, creativity and an appreciation of aesthetics are vital for creating original and cutting-edge ideas, concepts, and marketing strategies requires creativity and an appreciation of aesthetics. It enables a fashion company to stand out in a very competitive market and draw customers in. Thirdly, in a globally diversified fashion industry, it is essential to comprehend various cultures, interests, and preferences. Brands must recognise cultural diversity and modify their strategy to appeal to various consumer segments around the world. Lastly, collaboration skills are crucial in the fashion industry, as brands frequently collaborate with teams of designers, manufacturers, suppliers, and retailers. Collaboration encourages creativity, problem-solving skills, and the capacity to produce high-quality goods and services that live up to customer expectations.