People
Gen Zers need to be individualistic, therefore have a strong sense of identity and expressiveness is what sets them apart from previous generations. They prioritise self-expression over conforming to society. According to data released by McKinsey, 58% of individuals born after 1995, known as Gen Z, lack basic social needs due to experiencing crises such as inflation, wars and climate change. All these events contributed to a general sense of pessimism among Gen Z, while fuelling the need to improve the society, after the failure of the previous generation to guarantee a stable future. (McKinsey & Company, 2023)
Gen Z is the primary consumer group of the second-hand market, which is forecasted to grow by 127% in three years. Platforms such as Vinted and Depop, where users can buy and sell second-hand products, count primarily individuals under 26. This trend reflects how this category of consumers share interests in circularity, aiming to give a longer lifespan to their purchase and embrace sustainability, ethics and uniqueness, giving a strong value toward where their money is going, rather than following mainstream trends. (WGSN, 2023)
This category of consumers thinks that the reputation of a brand goes beyond the quality and a premium price which is not justified if core values are missing. If a brand is not fully transparent, they risk being “cancelled” or blacklisted. (Spagnuolo, 2020) This scenario can be witnessed in the case of Balenciaga, which faced backlash for creating questionable advertising featuring sexualized child.
As digital natives, Gen Z has a myriad of sources to validate information and share their opinions. Traditional media such as magazines and tv ads is no longer effective. Instead, a brand should build a 360-degree experience on both physical and online platforms, so they are able to comunicate with a wide range of potential consumers. Otherwise, they risk relying on a specific target, focusing on cultivating only loyal consumers and throughout the time the brand fails to attract new potential clients, so decline as they failed to adapt. (Mitterfellner, 2023)
Ganni is an example of a current emerging brand that appeals to Gen Z, being their key consumer, and it shows how it is possible to grow an ecosystem with transparency and ethical values, which includes the usage of innovative materials avoiding greenwashing, and prioritise social responsibilities by promoting size inclusivity from a range of XS to 3XL, and fostering diversity ensuring better representation between all the stakeholders. (WGSN, 2023)
McKinsey & Company, 2023. What is Gen Z?
WGSN, 2023. Gen Z: Fashion Recommerce Profiles 2023,: Elizabeth Tan.
WGSN, 2023. Brand Case Study: Ganni: Laura Saunter.
Mitterfellner, O., 2023. Luxury Fashion Brand Management : Unifying Fashion with Sustainability. 1 ed:Taylor & Francis Group.
Spagnuolo, E., 2020. Meet Generation Z: Shaping the future of shopping [MiKinsey Podcast] (04 08 2020).