Gen Z & Fashion in 2024
The global apparel market reached a total revenue of 1.73 trillion USD in 2023. And it shows no signs of slowing down.
As 2024 draws to a close, let’s look back at some of the prevailing trends within the fashion industry.
Influencer marketing builds authenticity between brands and clients
Sustainability of materials & manufacturing drives consumer decisions
Nostalgia can be a powerful part of brand messaging
With Gen Z being the largest generation in history, they are on track to gain a significant amount of purchasing power. With great power comes great responsibility, yet, in this case, the onus is on marketers.
This bears the question - how can we market to this unique demographic?
Gen Z has shown an affinity for influencers, associating digital creators with a higher level of authenticity than DOOH/OOH advertising. This 1:1 connection personalizes the consumer journey, especially in the pre-purchase stage.
Companies like Shein have capitalized on this with its Shein Partner program. Influencers get shipped free product and will try the clothes on (referred to as a try-on haul), enabling significant digital exposure for both the creator and Shein.
But influencer marketing is just a drop in the bucket. There are other important factors at play in fashion marketing.
Recent knowledge about the effects of climate change have created anxiety for Gen Z. With 67% of U.S. Gen Z adults saying climate change is a top priority, this issue remains important for this generation. So what can be done to address this?
It starts with transparency of both sourcing and manufacturing of materials. Companies also need to ensure that they don’t engage in poor labour practices and are working to reduce carbon emissions. Gen Z has been shown to be selective with their dollars, and they will not purchase product from brands that fail to share their core values of sustainability.
Let’s not forget about the final trend: nostalgia. A longing for the past. A time in which life seemed simpler, more engaging and slower. Gen Z has exhibited a deep desire for nostalgia, both in their media consumption and fashion choices.
With a dramatic uprise in Gen Z adopting fashion trends like Y2K style and vintage style, marketers can benefit from leaning towards the emotional side of trends. By highlighting brand offerings that fit into these trend cycles, marketers can create positive, nostalgic associations between their brand and Gen Z consumers.
The cyclical nature of fashion can make it both predictable and wildly volatile. However, if marketers can apply these trends to their strategy, they will gain a valuable competitive advantage!
