People

The people pillar can be argued as the most important. This is because people are behind the decision making in the fashion industry but also the people buying from it. 

Gen Z as a generation are often described as ‘digital natives’ as they have been the first generation who have always had access to online platforms. With this new generation brands are wanting to attract them so they can grow with the brand as a consumer. This leads brands to try to align with Gen Z values. They are seen as individualistic and are into unique styles. As well as being more willing to pay for more personal offers and customisation. (Francis and Hoefel, 2018) They demand accountability and equality from brands and are considered to be climate change advocates. Their behaviour is reflected in the growth of re-commerce and 73% of Gen Z have said they try to shop at brands they find ethical. (McKinsey, 2023) 

The biggest way that brands can attract Gen Z is to  communicate sustainability within the brand. This linking with  consumers experiencing an economic downturn, brands should focus on how to make fashion more accessible. For example by outlet stores or investing in re-commerce and e-commerce. An example of a company who has done this is Kering as in 2023 they invested into Vestiaire Collective which is a website where people can purchase second hand luxury. Additionally,there has been growth in outlet stores by 35% since 2019. (Business of Fashion, 2023) Brands should also dynamically recommend products at set prices that appeal to individual consumers and show messages of sustainability in every aspect of the business. (Mitterfelter, 2019)

A big aspect of attracting Gen Z is by being  a brand that has diversity. A brand that has responded well to the demand for diversity is Calvin Klein as part of the PVH group. This can be seen on their website , using models with different body types and skin colours consistently throughout. Another way they have shown diversity is by heaving a pride collection in support of the LGBTQ + community. PVH shows its shareholders their  diversity by having a CSR report with goals on diversity as well as a diversity, equity and inclusion report from 2019. This shows the brand’s response  to diversity by  presenting it on a surface level but also in the brand’s values. 

In terms of people skills, to be successful a brand needs to be open minded, pragmatic and have flexible thinking. As  they need to be able to quickly adapt to a changing market to understand consumers. As well as adapting to new technology so that brands can use it to help them understand consumers and find solutions in problem solving. 

Bibliography

Mitterfelter, O. (2019) Fashion Marketing and Communication Theory and practice across fashion industry page 175 -177

The state of fashion 2023: Holding onto growth as global clouds gather (2022) McKinsey & Company.

https://www.mckinsey.com/industries/retail/our-insights/state-of-fashion

Francis, T. and Hoefel, F., 2018. True Gen’: Generation Z and its implications for companies. McKinsey & Company, 12.

https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen- generation-z-and-its-implications-for-companies