Purpose
‘People don’t buy what you do, they buy why you do it’
– Simon Sinek
Another key pillar of fashion is purpose. To be a successful brand, there needs to be a story or a mission. Generation Z, the main consumers of fashion, want to know who they’re buying into and what their money will be used for.
40% of consumers are apart of Generation Z (Amed, I et al 2019) therefore when brands are creating campaigns they need to have in mind what Generation Z are shopping for. Gen Z have been described as unique, and in demand of individuality with their clothing (Schneider, B Lee, D 2022) they are no longer buying into the brand for the name and status, but rather they’re buying into what they want to represent, their beliefs and their morals. Businesses need to creative a cohesive narrative within their brand, rather than a couple of social campaigns, they need be apart of the conversation (Finneman, B 2020). In the modern day world, the equation of value and worth is vastly different and more multidimensional, instead of being on price versus quality, it’s including societal value, status, social influence (Finneman, B 2020). Gen Z will buy from a company that is actively providing something for society.
Companies need to adapt also to the way Gen Z consume information. With all the data available to them, companies can no longer hide their practices. Especially with the ‘cancel-culture’ of Gen Z, if a company is preaching sustainability but behind closed doors going against it, it will come out and as a brand, they will be ruined by Gen Z (Spagnuolo, E 2020). Therefore brands need to not only have an overall mission, they need to constantly prove themselves and be authentic to Gen Z consumers.
Generation Z being ‘digital natives’ (Francis, T 2023) they are bombarded with information, marketing from hundreds of brands, advertisements on every social media platform and even repetitive emails. If a company wants their message to be heard, they need to collaborate with social media influencers (Oliver Wyman Forum 2023). Gen Z have very little trust in celebrities and brands, but are willing to listen to each other, fuelling the rise of social media influencers, 44% of Gen Z have made a purchase based on social influencers (Salukov, D 2023). Social media is a tool for Gen Z when on their consumer journey, therefore to avoid it as a brand is economic suicide (Oliver Wyman Forum 2023)
Despite purpose and vision being key to a brands success with Gen Z, it’s important to consider the triumph of fast fashion. Price and convenience may seem less important to Gen Z than millennials, however it still influences Gen Z’s consumer choices.
References
Amed, I. Berg, A. et al. 2019. The state of fashion.
Finneman, B. Spagnuolo, E. August 2 2020. Meet generation Z: shaping the future of shopping.
Meet Generation Z: Shaping the future of shopping | McKinsey
Francis, T. Hoefel, F. True gen Z: generation Z and its implications for companies.
Generation Z characteristics and its implications for companies | McKinsey
Oliver Wyman Forum. 2023. What business needs to know about the generation changing everything.
A-Gen-Z Report (oliverwymanforum.com)
Salukov, D. January 18 2023. Gen Z influencer marketing: what marketers should know 2023.
Gen Z Influencer Marketing: What Marketers Should Know (2023) (insense.pro)
Schneider, B. Lee, D. October 11 2022. Gen-Z and fashion in the age of realism.
BoF Insights | Gen-Z and Fashion in the Age of Realism | BoF (businessoffashion.com)