People

When referring to the fashion industry “People” are an important factor. This refers to different consumer groups within society such as those from different age brackets and people with different preferences. 

One consumer group that is frequently spoken about within the industry is Gen Z. This consumer group consists of 25.9% of the population with those that are born from 1995-2010. Their consumption patterns consist of garments with individuality and a sense of uniqueness. 

For a brand to attract Gen Z, (Francis & Hoefel, 2018) consumption should be looked at with a matter of ethical concern. Gen Z are known to be well educated about the companies they are purchasing from, if a brand is advertising diversity but fails to show this within their ranks it doesn’t go unnoticed. However, Gen Z is tolerant of brands when mistakes are made if an effort is made to correct them. (Moran G, 2022) 46.8% of Gen Z have claimed they have abandoned a purchase that did not align with their values, and 47.4% of Gen Z state they are willing to pay more for sustainable and ethically made garments in contrast to 40.7% in 2021. This shows that sustainability is an important factor to this generation as consumers are buying from brands who are trading ethically and are communicating this transparently with their customers. 

Victoria’s Secret has responded to its lack of diversity by rebranding its entire company to sit within society’s standards. Their goal is to change the company’s image and values by removing the traditional Victoria’s Secret angels and presenting more diverse models to be inclusive. The Victoria’s Secret World Tour 2023 showed these changes as the brand took a step away from the traditional fashion show by bringing in models of different sizes, races, gender expression and those with disabilities. 

For a fashion business to be successful, various people skills are required. Recently, fashion businesses have been looking for those who have technology skills from a fashion background as 90% of fashion executives have projected a skills shortage in their businesses. (Stolzoff, 2018) The five key people skills expected to be required in the industry are digital skills, programming skills, working with tools and techniques, technology skills and critical thinking. These skills will help fashion businesses to become more successful if they are to widen their workforce with a variety of skills the business can expand. This will lead to new ideas and a more diverse workforce.

References

The A to Z on gen Z (2023) McKinsey & Company. 

Available at: https://www.mckinsey.com/featured- insights/themes/the-a-to-z-on-gen-z

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