People

People are a paramount factor in determining long-term business success (Ariella, 2023). Within the fashion business school’s four-pillar framework, the ‘People’ pillar plays a crucial role in achieving sustainability and corporate responsibility, benefiting both the business and its stakeholders (Miller, 2020). This concept promotes a positive societal impact, encompassing the workforce, consumers, suppliers, and communities (The Triple Bottom Line and why it is important 2023), It values fairness, inclusivity, and respect for the business’ stakeholders with the purpose of addressing societal issues while ensuring business profitability (Miller, 2020).

Gen Z, born between 1996 and 2010 (What is gen Z? 2023), whose spending power is on the rise and premature become the most powerful consumer group as it is reported by Bloomberg that impressively wields a purchasing potential of $360 million which a substantial leap from $143 billion that they had in four years ago (Stone & Newhouse, 2023). This appears as a challenge for brands looking to engage Gen Z’s as they have distinct inclinations and digital demands (Meola, 2023).  As the first true digital natives, Gen Z is heavily reliant on the internet for work and leisure. Gen Z characteristics are idealists and advocates for inclusivity, social justice, climate action, and accountability due to the surrounding context. Moreover, expressive and ever-changing are the fashion trends they pursue, which feature Gen Z shoppers prefer accessibility and convenience meanwhile seeking ethical brands.  (What is gen Z? 2023)

Gen Z prioritizes brands with strong stories and sustainability since there is nine in ten of them feel that it is the duty of companies to tackle environmental and societal concerns (What is gen Z? 2023). Establishing transparency, and authenticity and aligning the brand images with ethical and sustainable practices are necessary to meet their expectations (Fromm, 2022). Moreover, exploiting social media platforms and fostering a community that can be considered effective engage them as they spend most time staying online and desire involved feelings. Additionally, Gen Z values diversity and inclusivity in brands, driving the need for LGBTQ+ inclusive platforms and products accommodating a wide range of audiences (Anderson, 2023). Fenty Beauty is a typical case study of embracing diversity and inclusivity with the concept of “beauty for all” that provides a diverse range of cosmetics available for all skin shades which was groundbreaking and challenging the industry norms (McKinnon, 2022).

Research and analytical skills are essential for fashion brands to comprehend the market, and keep up-to-date with fashion trends and consumers’ preferences with the purpose of launching for wise decision-making to drive the brand’s growth. Moreover, communication is crucial since effective communication could help the companies to convey ideas clearly, offering effective collaboration and constructing stable relationships with its stakeholders (10 essential skills for a fashion brand manager 2023). In the fast-paced fashion industry, change is significant for adapting to the context which includes embracing industry developments to responding to shifting consumer expectations (Briedis et al., 2020).  

Amed, I. et al. (2019) The influence of ‘woke’ consumers on fashion, McKinsey & Company. Available at: https://www.mckinsey.com/industries/retail/our-insights/the-influence-of-woke-consumers-on-fashion (Accessed: 16 October 2023).

Anderson, M. (2023) Council post: Connecting with gen Z: Effective strategies for brands, Forbes. Available at: https://www.forbes.com/sites/forbescommunicationscouncil/2023/05/05/connecting-with-gen-z-effective-strategies-for-brands/?sh=1663f2091bab (Accessed: 16 October 2023).

Ariella, S. (2023) Key success factors of business (with examples), Zippia. Available at: https://www.zippia.com/advice/key-success-factors/#:~:text=People%20Key%20Success%20Factor%20Examples%3A%201%20Hiring%20the,chance%20to%20provide%20meaningful%20input%20on%20business%20decisions (Accessed: 11 October 2023).

Briedis, H. et al. (2020) Adapting to the next normal in retail: The Customer Experience Imperative, McKinsey & Company. Available at: https://www.mckinsey.com/industries/retail/our-insights/adapting-to-the-next-normal-in-retail-the-customer-experience-imperative (Accessed: 16 October 2023).

Businesses and gen Z consumers: NCR Primer (2020) NCR. Available at: https://www.ncr.com/blogs/generation-z-characteristics-what-businesses-should-know-about-the-next-wave-of-consumers (Accessed: 14 October 2023).

Dobie, S. (2020) 60% of gen Z can’t go more than four hours without internet, Marketing Gazette. Available at: https://marketinggazette.co.uk/2020/07/14/60-of-gen-z-cant-go-more-than-four-hours-without-internet/#:~:text=The%20Center%20for%20Generational%20Kinetics%20said%20the%20study,rely%20on%20the%20Internet%20largely%20to%20access%20information. (Accessed: 15 October 2023).

Fromm, J. (2022) As gen Z’s buying power grows, businesses must adapt their marketing, Forbes. Available at: https://www.forbes.com/sites/jefffromm/2022/07/20/as-gen-zs-buying-power-grows-businesses-must-adapt-their-marketing/?sh=1e86c21c2533 (Accessed: 15 October 2023).

McKinnon, T. (2022) How Rihanna’s Fenty brand is leading in Diversity & Inclusion, Indigo9 Digital Inc. Available at: https://www.indigo9digital.com/blog/fentydiversityinclusion (Accessed: 15 October 2023).

Meola, A. (2023) Generation Z: Latest gen Z news, research, facts 2023, Insider Intelligence. Available at: https://www.insiderintelligence.com/insights/generation-z-facts/ (Accessed: 14 October 2023).

Miller, K. (2020) The triple bottom line: What it is & why it’s important, Business Insights Blog. Available at: https://online.hbs.edu/blog/post/what-is-the-triple-bottom-line (Accessed: 14 October 2023).

Stone, S. and Newhouse, A. (2023) What makes them buy: The Gen Z Spending Habits to know in 2023 • the shelf, The Shelf Full-Service Influencer Marketing. Available at: https://www.theshelf.com/the-blog/gen-z-spending-habits/#:~:text=Gen%20Z%20commands%20a%20remarkable,power%20will%20continue%20to%20increase. (Accessed: 14 October 2023).

The Triple Bottom Line and why it is important (2023) certilogo. Available at: https://discover.certilogo.com/blogs/insights/triple-bottom-line#:~:text=People%2C%20Planet%20and%20Profit,customers%2C%20suppliers%20and%20local%20communities. (Accessed: 11 October 2023).

What is gen Z? (2023) McKinsey & Company. Available at: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z (Accessed: 14 October 2023).

10 essential skills for a fashion brand manager (2023) Yellowbrick. Available at: https://www.yellowbrick.co/blog/fashion-business/10-essential-skills-for-a-fashion-brand-manager?fbclid=IwAR3ncqqlutT8gpRW-HhteLNIXGnqLpSZmgJlY4Qn1rvsBdu3_zwJoL6pzfM (Accessed: 16 October 2023).