people

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One of a firms most intangible assets will always be its customers, the relationship between brand and consumer is something that should be valued and managed. This relationship between the stakeholders in the fashion industry has a significant impact in the success of a brand; financially speaking, when a customer is appreciated by said brand, their lifetime value will increase as loyalty builds (Gupta 2001). The people pillar focuses on how a brand can nurture this relationship for mutual benefit. 

Generation Z is the second youngest generation and currently holds the fashion and beauty industry in a compromising position as their values and demands begin to contradict each other. Gen Z, unlike previous generations have demonstrated extreme trend chasing habits which are supported by fast fashion retailers, furthermore, online shopping has digitalised retail and provided a level of ease that is now somewhat expected by Gen Z (McKinsey 2023). However, we must also consider that Gen Z consistently advocates for sustainability and transparency within the cosmetics industry, demand for products with a low environmental impact and organic certifications that guarantee the reliability of the formulations has become massively differentiating (Fortunati 2020).

Many companies pay particular attention to the sensitivity of their buyers toward environmentally friendly and biodegradable products, without neglecting quality (Fortunati 2020). This is imperative when a cosmetics brand is looking to attract Gen Z consumers. Similarly, it is important for brands to respond in a socially sustainable way. 

Consumers tend to be drawn toward brands with similar ethos’, as racial equality becomes more valued by modern politically aware individuals, successful brands are proving to be those who cater to many different ethnicities. Fenty Beauty has set a standard in the beauty industry, where as a brand it does not only passively preach the message of equality, but also actively, by launching at its very inception with a 40-tone shade range, previously unheard of for an opening launch of a brand (Barrett 2022). 

In the modern age, a brands multiplatform social media engagement goes hand in hand with their product innovation. Today’s generations are surrounded by advertising in their digital and physical world so to be successful a brand must invest in a pre-existing consumer activity to create a sense of community. As important as a brands message is, the mode in which you communicate with consumers or your audience is often more important than the message itself (Barrett 2022). 

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