Liv Parsons

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Purpose

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‘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.

https://www.mckinsey.com/~/media/mckinsey/industries/retail/our%20insights/the%20influence%20of%20woke%20consumers%20on%20fashion/the-state-of-fashion-2019.pdf

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)

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Profit

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The profit pillar is defined by the economic face of the fashion industry. In this pillar success is defined as mass production and rising profits.

The fashion industry is currently valued at $1.7 trillion globally and 430 million workers (Ariella, S 2023). “Fashion is believed to be one of the world’s most important industry, and if it were ranked alongside individual countries GDP, the industry would represent the seventh-largest economy in the world,”(McKinsey, 2017). Like every industry, the fashion world were negatively affected by the Covid-19 pandemic, where the market dropped almost 40% between the start of January and March, 2020 (McKinsey 2023).According to the Euromonitor apparel and footwear shrunk by -18.1%  in 2020, however the market also grew 18.1% post-pandemic due to ‘revenge shopping’. (McKinsey 2023).

The effects of the pandemic and inflation on the fashion industry are impactful, with the footwear and apparel market forecasting to lose many consumers. Despite the public tightening their purse strings against the rising energy prices hasn’t stopped the growth of the luxury market. It’s sales are projected to grow 5 percent to 10 percent in 2023 (McKinsey 2023). This can be explained by the wealthy people who are the target demographic for luxury brands, and are also the least affected by inflation, therefore will continue to purchase goods (Kim 2023). On the other hand, non-luxury fashion sales are forecasted to grow between negative 4 percent and positive 1 percent (McKinsey 2023), explained by inflation, energy prices from the Ukraine crisis and a post-pandemic environment.

For brands to remain competitive and raise profits, they use trend forecasting. However, in uncertain economic times trend forecasting can be difficult, and therefore companies may not be able to keep up. One way for companies to survive challenging times is to create partnerships amongst each other and share their consumer data, increasing the accuracy of forecasts made by designers (A, Berg 2023). In 2023 demand patterns aren’t as stable as they used to be, so brands need to learn how to be more flexible and adapt. Until the nineteenth century, fashion wasn’t considered art and any fashion illustrations were for costumes or logical use (Goethe-Jones, S 2019). In 2023, clothing is viewed drastically different, with museums and galleries exhibiting garments, and events such as Paris Fashion Week and the Met Gala showcasing designer’s creations. Fashion brands hire creative directors to bridge the gap between the designer’s artistic view. A creative director takes the brands creative vision and translates this into a visual language that resonates with consumers (YellowBrick 2023). They turn art into commerce and build the brands profits, upholding one of the pillars of fashion.  

References

Ariella, S. 2023.

28 Dazzling Fashion Industry Statistics [2023]: How Much Is The Fashion Industry Worth – Zippia

Berg, A. June 2022. How current global trends are disrupting the fashion industry.

Fashion industry challenges and global disruptions | McKinsey

Goethe-Jones, S. March 2019. Fashion illustration from the 16th century to now.

Fashion Illustration from the 16th Century to Now – Illustration History

Kim, W. May 2023. The surprising reason luxury goods are booming.

Dior, Tiffany, Le Creuset: Why we’re buying luxury goods like crazy – Vox

McKinsey. 2017. The State of Fashion Report

The-state-of-fashion-2017-McK-BoF-report.pdf (mckinsey.com)

McKinsey. November 2023. The state of fashion 2023 holding onto growth as global clouds gather.

State of Fashion | McKinsey

Yellowbrick. March 2023. Unleashing creativity what does a creative director do.

Unleashing Creativity: What Does a Creative Director Do? (yellowbrick.co)

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When it comes to fashion young people value freedom - Fahsionista

People

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“The last people with any ideas are young people”

Vivienne Westwood

The most social pillar of fashion is people. Due to the design of the industry, most brands are willing to prioritise maintaining profits, keeping up with trends and manufacturing 100 billion garments annually (Ruiz, A 2023) at the cost of fair wage and labour practices (Lambert, M 2014). Therefore, despite people being the foundation of the fashion industry, many are getting exploited in the process. Fashion wouldn’t exist without it’s consumers, 40% of consumers are apart of Generation Z (Amed, I. Berg, A et al. 2019) and are the largest living cohort of 2 billion (Branka 2023).

Generation Z is defined as people born between 1997 and 2010 (Dimock, M 2019). Gen Z has been described as digital natives (McKinsey, 2023) which means that as consumers, before purchasing they tend to turn to the internet for any reports or news on the brands they choose. (McKinsey, 2023). So to please the main consumers in the market, brands need to have a clear online presence. Sustainability and social awareness in fashion brands have been found to be more significant than shopping for brand names to 73% of Gen Z (First Insight, 2021). Businesses need to have proof online that they are practicing sustainable methods and supporting the right causes. Gen Z have also been said to be able to see through gimmicks (Amed, I. Berg, A et al. 2019) and campaigns that are made just to ‘look good’. Brands should aim to be 100% traceable and show they represent core values. Balenciaga in 2018 collaborated with World Food Programme, donning it’s slogan, “Saving Lives, Changing lives.” (Amed, I. Berg, A et al. 2019). Companies performing in this way are more likely to attract Gen Z consumers.

The fashion industry is all about collaboration. It’s a global market and therefore, to be successful brands must be able to communicate and work globally (Dsouza, R Aubry, M 2021). Inter-culture communication is a key skill they require, which includes knowledge of other cultures, patience, tolerance and good communication skills. Businesses should also aim to tap into the minds of their largest consumers, Gen Z.  The Digital Fairy is a marketing team that ‘challenge brands to be braver, more inclusive and work harder for the new generation’ (Digital Fairy, 2012). Big named brands such as Nike, Adidas, Tropicals and more have turned to this agency in the recent years to learn how to successfully attract their gen z consumers. (Pagano, A 2022). To be successful in the modern day market, businesses need to draw on the People aspect and focus in on the up and coming Generation Z.

References

Amed, I. Berg, A. et al. 2019. The state of fashion.

https://www.mckinsey.com/~/media/mckinsey/industries/retail/our%20insights/the%20influence%20of%20woke%20consumers%20on%20fashion/the-state-of-fashion-2019.pdf

Branka. 2023. Generation z statistics.

Generation Z Statistics – 2023

Dimock, M. 2023. Defining generations: where millennials end and generation z begins. Pew Research.  

Defining generations: Where Millennials end and Generation Z begins

Dsouza, R. Aubrey, M. May 5 2021. Cross-cultural global fashion business.

https://www.ijsr.net/archive/v10i5/SR21519100836.pdf

First Insight. November 2021. Gen z influencing all generations to make sustainability-first purchasing decisions.  

The State of Consumer Spending – Gen Z Influencing All Generations.pdf (hubspotusercontent10.net)

Fox, S. June 6 2023. Online shopping statistics and trends in 2023.

Online Shopping Statistics & Trends in 2023

Lambert, M. 2014. The lowest cost at any price: The impact of fast fashion on the global fashion industry.

https://core.ac.uk/download/pdf/48614342.pdf

McKinsey & Company. 2023. What is gen z.

file:///C:/Users/16par/OneDrive/Desktop/Research/People/what-is-gen-z.pdf

Pagano, A. November 16 2022. Brand discovery in gen z: a convo with the digital fairy.

https://www.forbes.com/sites/aubriepagano/2022/11/16/brand-discovery-in-gen-z-a-convo-with-the-digital-fairy/

Ruiz, A. 2023. 47 Official sustainable fashion statistics 2023 – The Roundup.

47 Official Sustainable Fashion Statistics

Sampson, E. October 13 2022. Is fast fashion about self-expression or consumerism?.

Is fast fashion about self-expression or consumerism? (sustainabilityforstudents.com)

The Digital Fairy. 2012.

https://www.thedigitalfairy.co.uk/

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Planet

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“Buy less, choose well, make it last” – Vivienne Westwood

The fashion industry is the second biggest contributor to climate change and pollution globally. Of the 15 million tonnes of textiles produced every year, over 75 per cent is discarded, in the production phase and post-consumer level (Castro, 2021). To make a cotton t-shirt, 2,700 litres of water are required, which is approximately enough to meet one person’s drinking needs for 2.5 years (Weonsel & Lipp, 2020). Modern day fast fashion, over consumption, and clothing trends are increasingly damaging to the environment. Social media is littered with trends that “constantly come and go and fashion is largely ever changing” (McCarthy, 2013). With fast fashion, the lack of sentimental value results in items that are easily discarded (Castro, 2021). Research based closely on enclothed cognition and essentialism found the two processes together can “influence cognition, benefit wellbeing, and improve sustainability in fashion” (Mair, 2018).

To improve sustainability, brands need contemplate circularity. A circular fashion industry is defined as “a regenerative system in which garments are used for as long as their maximum value is retained, and then returned safely to the biosphere when they are no longer of use” (Black, 2012). This design starts in the production stage, where clothes should be made using renewable and safe materials. After this consumers are responsible for getting as much wear as possible out of the garments, but also to not overconsume. Creating clothes from sustainable backgrounds, and being fully traceable, builds the consumers relationship with the garments and reduces overconsumption in the industry (Mair, 2018).

In regards to circularity, the United Nations established 17 Sustainability Development Goals to be applied in every industry. Number 12, Responsible Consumption and Production, focuses on the misuse of finite resources in nature (UN, 2015). The Fashion industry’s second major material is cotton (European Parliament News, 2023). To keep up with the growing demands of fast fashion, farmers use pesticides, harming the environment and consumer health. Pesticides are responsible for 200,000 acute poisoning deaths each year, and chronic exposure to pesticides has been linked to cancer, Alzheimer’s and Parkinson’s diseases (Elver & Tuncak, 2017). Therefore, overconsumption and fast fashion are the foundations of the unsustainability in the Fashion industry.

References

Castro, O. (2021, February 11). Loved clothes last. Penguin Books Ltd.

Black, S. (2012, October 1). The sustainable fashion handbook. London. Thames and Hudson

Elver, H., Tuncak, B. (2017, March 7). UN human rights experts call for global treaty to regulate

dangerous pesticides. https://news.un.org/en/story/2017/03/552872

European Parliament News. (2023, June 5). The impact of textile production and waste on the

environment (infographics). https://www.europarl.europa.eu/news/en/headlines/society/20201208STO93327/the-impact-of-textile-production-and-waste-on-the-environment-infographics

Mair, C. (2018). The psychology of fashion. Taylor & Francis Group.

McCarthy, Sydney. (2013). The effects of social media on fashion consumption. Oxford.

https://core.ac.uk/download/pdf/148694812.pdf

United Nations. (2015). Sustainable development goals.

https://www.un.org/sustainabledevelopment/sustainable-consumption-production/

Woensel, L., Lipp, S. (2020, September). What if fashion were good for the planet?. European

Parliamentary Research Service.

https://www.europarl.europa.eu/RegData/etudes/ATAG/2020/656296/EPRS_ATA(2020)656296_EN.pdf

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A Favourite Fashion Brand

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My favourite fashion brand is probably Prada. Most fashion brands I’m not a fan of their logo, and when they design items with the logos plastered over it I think it looks bad, or even tacky. However, I love Prada’s triangular logo, I think it’s very chic and never looks cheap on their clothing/accessories. The images above are from Miuccia Prada’s Fall/Winter show in 1988. Prior to the show Prada was producing strictly leather goods, however in this show she created pieces inspired from her own wardrobe and emerged into the fashion scene. One of my favourite shows is the Spring/Summer 2012, Miuccia put the two things Italian men love most together, women and cars. The clothes are mainly bandeau tops and leather pencil skirts with car imagery. Prada has roots in the Italian Royal Family and was established an air of aristocracy in their design. Prada is a symbol of ‘immense growth and authority’. It’s a luxurious brand in my opinion and doesn’t stick to ‘trends’ which I admire.

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