Purpose
The purpose of a fashion brand is not only to satisfy consumer needs but also to build brand identity, distinction and loyalty to achieve commercial success in a competitive marketplace. In addition, the mission of a fashion brand can include social responsibility and sustainability, which are crucial to the modern consumer. A brand’s social responsibility and sustainability endeavours not only appeal to consumers but also bring both commercial and social benefits.
A great brand concept increases brand awareness and loyalty, and according to a report by KPMG, a European fashion market research company, about 85 per cent of consumers say they are more likely to buy from and stay loyal to brands with a clear mission and vision. These brands are more likely to be recognised and remembered in the marketplace. And with the fashion industry being so competitive, brands with a clear brand philosophy are more likely to stand out in the market, according to L2, a New York-based fashion tech research organisation. This helps to reduce the pressure of competition in a homogenised market.
Fashion is no longer just about what you wear; it has evolved into a culture, a lifestyle and attitude. In this day and age, young Gen Z consumers expect more from fashion brands in terms of the brand’s philosophy, vision and value proposition rather than just the product itself. They are buying a lifestyle and a commitment to society. Therefore, brands need to construct and communicate these factors to create a strong connection with this critical consumer segment.
Fashion branding concepts help shape a brand’s identity and make it stand out in a competitive marketplace. Generation Z is a socially responsible generation. According to Vogue, about 73 per cent of Gen Z consumers are more likely to support brands actively involved in social issues. Gen Z cares about the manufacturing process and materials used to make products. They are more likely to support brands that are sustainable and transparent. Therefore, brands’ value propositions must emphasise sustainability, ethical production and transparency.
Fashion brands must, therefore, establish a positive social and environmental vision to appeal to this consumer segment. For example, Patagonia has attracted many environmentalists by speaking about its commitment to environmental protection.
Generation Z are digital natives who are very active on social media. Through social media, fashion brands can communicate their mission and vision to them. About 90 per cent of Gen Z members say that social media has a significant influence on their shopping decisions, so brands can use social media and digital platforms to communicate their ideas. Platforms such as Instagram and TikTok have become essential tools for brands to interact with young audiences, to whom the brand’s vision and pictures must be communicated through engaging content.
Brand ideas can go beyond products and services to create a deep emotional connection. According to Brand Keys, consumers are more likely to buy brands that align with their values and beliefs, and this emotional connection helps build long-term brand loyalty. Gen Z is typically more brand loyal if they feel the brand aligns with their philosophy. One study found that about 75 per cent of Gen Z consumers said they would more frequently buy products from brands that align with their values. With an emphasis on individuality and self-expression, they crave empathy with brands. A brand’s philosophy and values must match their beliefs. For example, Nike’s “Just Do It” slogan encourages boldness in the pursuit of dreams, which is in line with Gen Z’s spirit.
Reference
https://www.dontpaniclondon.com/what-is-brand-purpose/
https://www.mckinsey.com/industries/retail/our-insights/the-influence-of-woke-consumers-on-fashion