Shopping for Fashion in Multiverse - Know your customers
GenZ is the largest generation yet, representing 25% of the world’s population.
This generation is coming into its purchasing power, and brands know it. Large brands such as PVH, Gucci, LVMH, and Levi are strategizing to meet this new group of buyers.
They are, however, different from any generation before them and too large of a group to ignore!
GenZ is different in everything from social media preference to perception of value. They prefer visual social media, Tiktok, Instagram, and Social Games. Many in this generation have started to abandon platforms in favor of new experiences. Like how we saw the movement in social media at the beginning of 2000, MySpace vs. Facebook.
This generation also perceives value differently. 75% of them have already bought digital items in Games, and they are the most digital native generation yet as they have never experienced a world without the Internet.
Their favorite forms of entertainment are Fashion, Games, and Music.
To reach this generation, brands need to be where they are!
For many brands, it will be complex to find out where to be and what their narrative should be on these new platforms. Luckily Tech is being built, making it a lot easier to engage across these new channels.