FACTS ACCORDING TO GEN Z & THE STATE OF THE FASHION LANDSCAPE
Gender-fluid fashion is increasing and changing the younger generation's attitudes towards identity and self-expression beyond old marketing distinctions for menswear and womenswear. Several hashtags on social media, such as #femboy #genderneutralfashion #genderneutral have garnered mln & bln views according to BoF Insights.
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Gen Z is not always consciously looking for gender-neutral fashion. For them, it is natural to interact with brands less restrictively and manifest freedom of expression by disregarding stereotypes.
It became more important as Gen Z purchasing power grows. Gen Z consumers have an estimated purchasing power of $360 billion.
This shift is visible in fashion shows, in Web3 space, and translating into sales across the globe, and US shoppers leading the way.
For many brands blurring the genders require a new strategy, re-thinking business goals, design, and shopping experiences. Luxury fashion brands embrace their own versions of gender-fluid concepts e.g. by dressing masculine models in feminine looks or by releasing (parts of their) collections that break traditional boundaries like Gucci.
Harry Styles, singer & songwriter is the first man ever on the cover of Vogue. On the shoot he wears a Gucci dress, saying "he doesn’t feel confined to strict gender norms in fashion and life". He sees fashion as something “to have fun with and experiment with and play with”. It’s all about finding “something that you feel amazing in.”.
HOW FASHION & LUXURY BRANDS CAN GROWTH IN THE INFLATION & POST-PANDEMIC WORLD?
It’s the perfect opportunity to start creating new business models. With full circularity and regenerative agriculture in the mind, we can better protect nature and be more sustainable.
Inflation pressure brands to deliver real value over the price. Luxury changes its meaning from price point into expressive luxury. Brands need to deliver real values that consumers recognize and share. Gen Z desires self-expression and individuality. By developing how our brand fits into their individuality and lifestyle we unlock our authentic voice & self-expression.
We experience a big shift in the digital economy & assets (NFTs) via blockchain technology.
Gen Z is moving quickly into virtual & phygital goods. Therefore, Web3 is a perfect alternative business model to create new revenue streams for brands. We buy by our emotions that digital bags/sneakers/hoodies/perfume & common values that we share with the brand. To win in the long run strategy brands need to be close to their customers like never before & start an online perfect presence in the Web3 space. It’s no more about the price. It’s all about the experience.
This is how the fashion & luxury business is evolving.
NEXT CHAPTER OF FASHION - WEB3. FROM IRL SHOPPING TO DIGITAL
& PHYGITAL EXPERIENCES. STREETWEAR IN THE GAME.
Gen Z shops more across gender lines and locations and is the most receptive community to gender-fluid strategies and collaborations between brands.
Web3 native brands like ADIDAS and RTFKT/NIKE create digital garments made for all.
Nike's/RTFKT’s example is mature & advance in skillset. Shows us not only great strategy but also innovation, and pioneering style in Web3. Finally, it is the story about how to build in Web3 space from scratch & lead others.
Adidas' collab with the blue-chip project is also pioneering but from another perspective: The story is more about how the Web2 brand can play in Web3 space or show up. Adidas joined Web3 as a collab with the Bored Ape Yacht Club (BAYC).
Decentralized branding in the Metaverse & NFT space is the power of translating Web2 strategy into ‘Web3 experience’ (Adidas) and/or creation of Web3 native experience (RTFKT) based on technological advancement combined with Web3 values.
Gen Z sees themselves as co-creators of new trends, wearing often gender-neutral clothing like hoodies and sneakers. Several hashtags on social media, such as #femboy #genderneutralfashion #genderneutral have garnered mln & bln views according to BoF Insights.
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