PEOPLE
In terms of the 4 pillars, People represents the way that the fashion industry interacts with society. Gen Z (individuals born in the years 1995-2010 (Francis and Hoefel, 2018)) is currently the most noteworthy generation in regard to this topic as they are having the most active impact on trends and therefore the way that all other generations associate with brands. Labelled “digital natives”, Francis and Hoefel (2018) argue that Gen Z’s technological proficiency requires companies to market themselves in a different way than they may be used to because this generation’s consumption habits have shifted quite significantly from those of Millennials. For example, a Drapers article (2022) reveals that Gen Z prefer to “seek fun and inspiration” while shopping and use it as a way to form and express their own personal identities. A 22-year-old respondent to a study conducted by McKinsey (2020) stated “with the internet, I feel much more free”. The internet is not just used for finding information or shopping, but for participating in communities, connecting with likeminded people; the same study also revealed that 66% of Gen Z participants hold the view that communities do not come together through economic backgrounds, but common interests. In order to maximise the relationship with today’s society, companies should target online communities rather than the individual.
Value means something very different to each generation, and it’s quite evident that Gen Z value fashion businesses that can respond to ethical issues and factor inclusivity into the brand model. One brand that I think encapsulates the needs of Gen Z the best is small but rapidly growing brand Racer Worldwide. Founded by a group of 16-year-old friends, what better than a label “based around like-mindedness and friendship” to represent youth culture? (Racer Worldwide, 2023). McKinsey (2023) calls Gen Z idealistic, “socially progressive dreamers” – a group of people who try to stand up for diversity and sustainable practices, for example. The Racer team do their best to take on these expectations, creating entirely gender-neutral clothing lines and also lines that are limited and not mass produced to try to be as conscious of the planet as possible. In an interview with Sticky Magazine (2023), they say that their main inspiration comes from sharing experiences with and listening to their audience, which I believe is a key skill needed for any brand to become successful. In fact, Otto Scharmer for the Inner Development Goals (2020) tells us that leadership failure is achieved by a lack of listening and it is the “single most important leadership skill”. In summary, brands are able to succeed by learning from Gen Z customers.
Reference list
Expósito , A. (2023). SICKY. [online] SICKY. Available at: https://sickymag.com/in-conversation-racer-worldwide/ [Accessed 14 Oct. 2023].
Francis, T. and Hoefel, F. (2018). ‘True Gen’: Generation Z and Its Implications for Companies. [online] McKinsey & Company. Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies.
McKinsey (2023). What is Gen Z? | McKinsey. [online] www.mckinsey.com. Available at: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z.
Moran, G. (2022). Gen Z and Millennials 2022. [online] Drapers. Available at: https://www.drapersonline.com/guides/gen-z-and-millennials-2022.
Racer Worldwide®. (2023). About Racer Worldwide®. [online] Available at: https://www.racerworldwide.net/pages/about.