People
Fashion has been an integral part of human culture and society for centuries. （Blazon，2023）Also humans have a vital role in the fashion industry and are undoubtedly the pillar of the fashion industry. The fashion industry has a global economic impact, a cultural impact, and is also an opportunity for personal expression and identity.People’s consumerism and behaviour influence the development of the fashion industry. At the same time, the fashion industry has brought about changes in people’s aesthetics and consumerism.
Now a new generation of influencers has emerged. members of Generation Z (broadly speaking, those born between 1995 and 2010) are true digital natives: from a very young age, they have been exposed to the Internet, social networks and mobile systems.(Tracy Francis and Fernanda Hoefel，2023）The four main consumer characteristics of Generation z are：Pragmatism，Digital Nomads，Commitment to Diversity and Choice and Demand for Environmental Change.(Mintel,2023)Their lifestyles are usually art-loving，pay attention to fashion trends, like shopping, have similar interests in social circles, be good at investing in their own education and strive for high-quality life. They prefer to shop according to their preferences and experience consumption rather than luxury goods. Buying sports opportunities is mainly to dress up their own image, improve their own quality of life or reward their own gifts.
Louisvuitton could be a good example of a brand has responded to diversity.”Louis Vuitton is a company that respects the uniqueness of each employee and offers everyone the means to find their place and thrive.”(Louisvuitton,2023)Louis Vuitton of course first stepped into the metaverse with Louis the Game, a mobile game that debuted in August 2021 as part of the luxury house’s Louis 200 anniversary celebration.(Highsnobiety,2023)Also, Louis Vuitton finally enters the NFT space .
Louisvuitton(2023)
In the fashion industry, if a brand wants to achieve success and long-term stable development, the brand must constantly adapt to the changes in the market as well as have a strong insight into the psychology of consumers, to meet the needs of consumers.
Blazon（2023）An Overview of the Importance of the Fashion Industry in Today’s World. Available at:https://blazon.revstance.com/an-overview-of-the-importance-of-the-fashion-industry-in-todays-world/ (Accessed: 15 October 2023).
Tracy Francis and Fernanda Hoefel（2023）‘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(Accessed: 15 October 2023).
Mintel(2023)The Future of Consumer Behaviour in the Age of Gen Z. Available at:https://www.mintel.com/consumer-market-news/the-future-of-consumer-behaviour-in-the-age-of-gen-z/(Accessed: 15 October 2023).
Highsnobiety(2023)FINALLY, LOUIS VUITTON GETS INTO NFTS. Available at:https://www.highsnobiety.com/p/louis-vuitton-trunk-nfts/(Accessed: 15 October 2023).