Understanding Gen Z’s consumption
People are the key success of any business, they are present in each and every step of the supply chain process, by either being the consumer of that product and service, or by being the employee and providing others with a good product or service. All successful companies rely on their target audience to achieve their objectives, so creating a a trustworthy relationship with your customer is important.
That being said, the new generation that goes from 1995-2010 known as Gen Z, has been impacting the fashion industry and demanding changes to it “Resale sites on social media were favored for their low prices, information about previously owned fashion items and the opportunity to exercise sustainable fashion choices.” Every generation differs from the other, and compared to other generations, Gen Z tends to be more realistic, communaholics, dialoguers and have undefined id, as well as their consumption being more ethical, unlimited and unique.
Furthermore, to attract this new generation and grow your business, new approaches need to be brought to the picture “less attention is given to relevant sales related information.” So the best alternative would be promoting your business in social media with high quality videos and pictures with the help of influencers, providing the audience with a mission statement they can relate to and shared values too, whether it’s sustainability, diversity or human rights.
Sustainability being something that Gen Z looks for, Vinted is a successful business that promotes this eco friendly values by reselling clothes that had already been worn “It is an example of industry 4.0 that promotes an innovative and successful business model while favoring sustainable fashion consumption.” Vintage clothing and thrift shops are a growing culture that promotes sustainability and ethical practices, an alternative to fast fashion and something to help our world thrive.
Reference list:
Siregar, Y., Kent, A., Peirson-Smith, A., & Guan, C. (2023). Disrupting the fashion retail journey: social media and GenZ’s fashion consumption. International Journal of Retail & Distribution Management.
Lander, C., Harris, R., & Garrido, D. (2023). Marketers should use social media to build trust in their brand, but they must know how to measure it. Journal of Digital & Social Media Marketing, 11(1), 20-29.
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Palomo-Domínguez, I., Elías-Zambrano, R., & Álvarez-Rodríguez, V. (2023). Gen Z’s Motivations towards Sustainable Fashion and Eco-Friendly Brand Attributes: The Case of Vinted. Sustainability, 15(11), 8753.
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Raghavan, S., & Shreen, K. (2015). Shared Value, Conscious Business, and Spirituality in a Fashion Enterprise in South India. Organizational Cultures: An International Journal, 15(1).
Ferraro, C., Sands, S., & Brace-Govan, J. (2016). The role of fashionability in second-hand shopping motivations. Journal of Retailing and Consumer Services, 32, 262-268
Image reference:
Team, T. A. (2022, October 24). Gen Z Trends From Around The World. EDITED. https://edited.com/blog/global-gen-z-trends/