PURPOSE
Purpose is the intention and core value of the fashion business. To define the business position, objectives and the approach to reach those objectives. And to clear its identity, future direction and corporate strategy to achieve success.
Brand need a destination, map, and guide to growth and develop. The mission statement outlines why the organization exists, the vision statement describes where it aims to be in the future, and the value proposition communicates what it offers to its customers, (Mitterfellner, 2023). This clarity helps employees understand their roles and motivates them to work towards common goals. In a crowded marketplace, having a distinct brand philosophy can set a company apart from its competitors. The creation of an unique selling point makes the brand distinctive and why consumers should choose it over alternatives. At the same time, Instead of thinking of luxury as a name brand, Gen Z really looking for unique items that set them apart, (Finneman, et al, 2020).
Moreover, fashion business have inextricably linked with corporate social responsibility and sustainability. CSR is a significant component of brand philosophy, emphasizing charitable giving, doing good deeds, and offering possible customer benefits. And brand demonstrating its corporate responsibility and accountability not only to the environment and social, but also to the people it employs and to communities in need, (Londrigan and Jenkins, 2018). CSR build trust between all of the key participants in the fashion industry, (Londrigan and Jenkins, 2018).
Gen Z is known for idealism and desire for authenticity, brands need to employ specific strategies to communicate their purpose effectively. Authenticity is an important value to Gen Z, and they tend to be more skeptical and discerning when it comes to brand messaging. The three concepts at the core of McCartney’s work ethic: being responsible, being honest, and making decisions and practicing with an eye toward the future, (Londrigan and Jenkins, 2018). Therefore, brands that are transparent, honest, and loyal to their principles have a higher chance of gaining their attention. Gen Z, they care about sustainability even more than millennials, (Londrigan and Jenkins, 2018). Brands can engage on social issue, be willing to engage with social and political issues relevant to the brand’s values. Then, use storytelling to convey the purpose, share narratives that illustrate the business journey, challenges, and successes in living up to brand’s mission and values. These stories can be shared through various mediums, such as videos, blog posts, and social media. Partner with influencers or organizations that align with your brand’s purpose. These collaborations can help you reach a wider Gen Z audience and lend credibility to your efforts. However, business should tapping into collaborator’s audiences and consider the fit with the brand’s feeling and attitude, (BOF Team, 2020). The ideals and interests of Gen Z members can differ from one another. Make the strategy unique to the Gen Z target market for the brand to make sure they understand and are moved by the mission.
Bibliography:
Mitterfellner, O. (2023). Luxury Fashion Brand Management : Unifying Fashion with Sustainability, Taylor & Francis Group, Milton. Available from: ProQuest Ebook Central. [27 October 2023].
Londrigan, M.P. , and Jenkins, J.M. (2018). Corporate Social Responsibility and Sustainability. In Fashion Supply Chain Management (pp. 41–60). New York: Fairchild Books. Retrieved October 27, 2023, from http://dx.doi.org/10.5040/9781501317798.ch-003. [27 October 2023].
Finneman, B., Spagnuolo, E. and Rahilly, L. (2020). Meet Generation Z: Shaping the Future of Shopping | McKinsey. [online] McKinsey. Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/meet-generation-z-shaping-the-future-of-shopping. [29 October 2023].
BOF Team (2020). How to Communicate and Connect with Gen-Z Consumers. [online] The Business of Fashion. Available at: https://www.businessoffashion.com/articles/retail/afterpay-communicate-and-connect-with-gen-z-consumers/ [Accessed 29 Oct. 2023].