People
It’s no secret that, since the birth of ‘Gen Z’ began at the end of 1995, the habits of consumers have drastically changed, with the ever-popular and rapidly evolving technological advances, as well as the characteristics that drive young consumers affecting the way in which businesses market, and sell, their products. This pillar is about the way in which the fashion industry is responding to the demands of a digital native; expressive; and ethically, socially and politically aware audience, essentially by altering their mission statements to align with the ‘woke gen Z customer’.
Francis and Hoefel claim that gen Z make up 20% of Brazils population, and 25.9% of the US population (Francis and Hoefel, 2018). This McKinsey study found that there are four core consumer behaviours that characterise gen Z buyers; they search for truths; value individual expression whilst avoiding labels; define consumption as a matter of ethical concern; as well as an expression of identity. It is said that this generation value individuality, and buying certain garments, or investing in certain businesses, is a way to cement individuality and provide a sense of uniqueness. Furthermore, there are claims of growing consumption for access, rather than possession, meaning that gen Z are more interested in investing in products that enhance everyday life, which differs to the characteristics of millennials, who tend to splurge on luxury items at high prices. It seems that in the current consumer landscape, unlimited access to goods and services is what creates value, and fashion businesses are therefore required to ‘rethink value creation models’ according to Francis and Hoefel, and respond to this alteration in buying habits by integrating social and environmental themes into products and services (Amed, Balchandani Et Al, 2019)
Considering these evolving consumer habits, gen Z also value online communities which allow people of different economic circumstances to connect across nations. For example, brands such as Vogue have been seen creating an online ‘club’, offering exclusive events, merchandise, and podcasts; they have successfully responded to the modern fashion business landscape by creating a community that allows its members to feel part of something special exclusive; something that makes them feel truly part of modern fashion as it evolves, whilst providing them with authenticity. We also must consider the ways in which businesses have responded to calls for diversity, with the knowledge that gen Z are far more radically inclusive and interest in human rights than past generations, it is ever more important that if brands wish to prevail, and succeed, in our modern landscape they adopt politically and socially correct standpoints. There is now more to a brand than garments; consumers are looking to invest in brands that use platforms to raise awareness of current affairs and political issues. For example, Fenty Beauty has been celebrated for its 50 shade range, and use of male and female models of all shapes, ethnicities and religions (Fenty Beauty, 2023), which has been received well by gen Z audiences. Another way in which 21st century businesses have responded to the demands on modern consumers, for example, is the creation of ‘B Corporation’; a title given to companies that meet the highest standards of verified social and environmental performance, public transparency and legal countability to balance profit and purpose (Cultivating Capital, 2023). It is said that there are key people skills needed to ensure the success of a brand, and inner development goals have been used to described the human goals that are needed in order to achieve sustainability, with some of these traits including listening, thinking, being and developing.
Cultivating Capital, 2023, Available at: https://www.cultivatingcapital.com/b-corporation/#:~:text=The B Corp Definition&text=Here’s the definition provided by,to balance profit and purpose. – date accessed 12/10/23
Fenty Beauty, 2023, Availabke https://fentybeauty.com/collections/makeup-foundation – date accessed 13/10/23
Francis, T. and Hoefel, F. (2018). ‘True Gen’: Generation Z and its implications for companies, Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies – date accessed 11/10/23
Imran Amed, Anita Balchandani, Marco Beltrami,, Achim Berg, Saskia Hedrich, Felix Rölkens (2019) ‘The influence of ‘woke’ consumers on fashion’ Available at: https://www.mckinsey.com/industries/retail/our-insights/the-influence-of-woke-consumers-on-fashion – date accessed 11/10/23
Image, Kantar (2023) ‘Four pillars for finding growth in the UK fashion landscape’, Available at: https://www.kantar.com/uki/inspiration/fashion-beauty/2022-wp-four-pillars-for-finding-growth-in-the-uk-fashion-landscape – date accessed 13/10/23