Purpose, why is it so in trend?
What is a brand without a purpose? What are people without qualities? Identity-less. Brands require to be seen as though they’re life-like, as though they’re a living-entity, this is the route for successful management in the fashion industry (Mitterfellner, O., 2023). Corresponding to how people need a purpose, it is prerequisite for fashion brands to acquire and publicise theirs – for the majority, this purpose is money. This simplistic view, however, is diminished with an influential generation such as Gen Z substantially impacting the fashion industry, making it essential for businesses to reevaluate their values to appeal to the generation which prioritises morals over money.
The significance which brand philosophy holds
Brand philosophy is made up of; a brands purpose, its concept of its future and how it overpowers its competitors – also labelled as mission, vision and values. Primarily, brands which develop an ethical brand purpose gain more traction and therefore more consumer interaction, leading to a rapid growth in success by 30% (Unilever, 2020). Consumer attention ultimately relies on the public portrayal of a brand, the clarification of its true purpose and whether or not it resonates with the consumer’s beliefs. An accomplished brand’s mission relies on the two foremost things which constitutes the emerging fashion industry – the planet and its people, the planet is in demand of a circular economy to survive, and the people desire inclusivity, diversity and transparency (McKinsey & Company, 2022). Stella McCartney is an exemplary brand which divulges its impactful brand philosophy, which can be found on the website http://www.stellamccartney.com/. McCartney communicates the main concepts of the the work ethic absorbed by the brand; being responsible, being transparent, and producing resolutions and executing these in sustainable practices. McCartney’s ethics conclusively acknowledges the values which compose brand philosophy, Katherine Hamnett is an additional brand which publicises its values on its website, https://katharinehamnett.com . Hammett has a page dedicated to sustainability and their commitments to it which has gained them vast amounts of appraisal and consequently consumer allurement.
How is purpose proclaimed to Gen Z?
Tiktok, YouTube, Instagram and Snapchat are the most habitually used social media platforms by Gen Z, according to Morning Consults survey, and this is the means to triumph the digital generation’s appeal. Cancel culture is a prominent tool used by Gen Z which exposes and curbs brands partaking in unethical practices, an example of the capability of cancel culture in more recent events is proven in the plummet of stocks of businesses funding Israel in the Palestine-Israel conflict. Brands such as Disney, H&M, Zara, Starbucks etc. funding the Gaza genocide opposes Gen Z’s moral principles and they have collectively formed to boycott these businesses, which led to a huge drop in stocks and even closure of some stores. To avoid being cancelled, several brands have taken to TikTok to communicate with Gen Z in a way which is familiar to them, to disclose their brand purpose and where they stand politically, economically and socially – as in 2022 36% of Gen Zers have revealed they prefer shopping from brands which share their same political and social views (Bump, P., 2022). “We are a generation for the people, and we tend to gravitate toward brands that align with beliefs similar to our own. If a brand can showcase that they stand with similar things we do, then they’re in a really great spot…” Madeline Skrovan, Arizona State University marketing student.
khaled: You actually expressed it superbly.