A podcast named ‘How Gen Z Buys Luxury’ has been released on September 1on BOF/LIVE to reflect this vision. Participants, purchasing director of Zalando Designers Anaheta v. Berenberg and the founder of NJAL Stefan Siegel have discussed how retail industry should proceed in the next 15 years for generation Z.
NJAL (Not Just A Label) platform which was founded by Stefan Siegel in 2018 to discover and support the pioneers of contemporary fashion has an inspiring aim. It’s an easily accessible network enabling designers to independently finance their own growth and introduce themselves. Also to deal with obstacles on their way by providing a retail forum. Other participant Zalando Designer platform currently has 45 million customer network.
How does Generation Z, the new generation want to do shopping and what are their areas of interest? Above all, in generation Z cultural shift is definitely very important. Their aim is not just to renew, be up-to-date or to express themselves like the past generations. Besides all these they want the products they loved and purchased to be sustainable and know where their money is going. If we expand the subject further, ethical working conditions, animal rights, water consumption,
sustainability, recycling and needs are important in their purchase criteria. They don’t limit their purchase to just new products, they are also interested in second -hand products because with value-oriented perspective, they are well aware that the old will add value to the system again.
Finally, pre order products are great trend for generation Z. Surprisingly, Zalando Designer has announced that in August 60-70% of the sales were in this direction. New generation is ready to wait for almost a month for a piece they want to add to their wardrobe.
Unlike the previous system which supports fast and extreme consumption, this trend leads all brands to embrace huge changes. To summarize, textile industry is face to face with the most knowledgeable client ever. Right now it’s obvious that the greatest strategy for both the producer and the consumer should be to stop the destruction of our planet.
They entrust the planet from us and they want to make sure that it’s well taken care of. Sadly we haven’t taken care of the nature that we have entrusted. We weren’t able to co-exist and adapt universal contribution and thus we haven’t been able to honor nature. New generation wants to purchase things that they believe in and that’s promising.