People
Sustainability is formed by one of the four pillars, People, where individuals should reflect the importance of societal and economical values in the fashion industry, in use of greater diversity and equality. The strategy of how strong an individual’s sustainability can be is reflected upon the measured environmental and governance, which can be increased in reference to enhance, benefit and prolong the human assets in society.
Members of Gen Z are born between 1995 to 2010, and consumers focus on the significance of how high the use of the internet has been towards this generation. Individual’s youth during this time has majorly been affected due to the social increase of mobile phones etc. The Lost Generation, as an example, optimises the graphic, brutal barbarity of warfare during World War II; hence why it is named to be ‘lost’ (McKinsey & Co, 2023). However, Gen Z is mainly involved in the Age of Realism, reflecting upon the fashion industry, which is many decades ago from ‘The Lost Generation’; people can also compare how generations have changed over time. Sustainable Fashion is a common factor when it comes to the consumers of Gen Z. According to the Business of Fashion website, the article published in October 2022, (Figure 1), heightens the age difference of the younger generation in relation to the older generation, and how ‘shoppers spend less on fashion as they get older’ (Schneider & Lee, 2022). This is clearly accurate according to the consumers of Gen Z, and brands can approach their businesses in relation to young consumers in the fashion industry who are glorifying fashion as their main priority, until fashion no longer becomes importance to people, which is clearly shown in the article.
As Gen Z overall empowers the concern of clothing to be made ethnically, fashion brands are taking this into consideration which effects their strategy of sale production. An example of a brand which does effectively show diversity through their cultures and people is Versace. Donatella Versace states ‘for me, and for Versace, the Black community – actually all diverse communities – have always been part of the family.’ (AnOther Magazine, 2021). This comprehensive statement from Donatella Versace shows the consumers of Gen Z that diversity and equality is becoming accepted in our society, through generations in the fashion industry. Newer brands in the fashion industry should take these key skills into consideration in order to become successful by gaining an audience who prioritize these characteristics of being diverse and equal.
Reference List:
McKinsey & Company, (2023) “What is Gen Z?”
https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z
Schneider & Lee, (2022) BoF Insights | Gen-Z and Fashion in the Age of Realism
Fury, (2021) Donatella Versace Speaks on the Importance of Community and Inclusivity