Generation Z is redefining the paradigms of online shopping in the fashion and lifestyle sectors, which are rapidly recovering from the two-year pandemic. As evidence of this growth, a turnover of EUR 10.7 billion is expected in 2023, including clothing, furniture and cosmetics.
Companies focusing on channel integration, sustainability and technological innovation are driving this growth, while key trends for the new generation include live and social commerce, with live streaming becoming the preferred mode of purchase for apparel, furniture and accessories.
Generation Z expects brands to support sustainability and channel integration, creating communities on social media and through brand ambassador programmes. Augmented reality, the metaverse and virtual reality offer new opportunities for brands to integrate omnichannel strategies and learn more about their customers. The current uncertainty has led to a rethinking of the entire value chain, with consumers increasingly focusing on local consumption and with reshoring and nearshoring phenomena. Digitalisation is becoming increasingly central for companies.
Fashion and sustainability. A new paradigm
Sustainability has become a central theme in fashion, especially for brands that communicate more with the younger generation. Consumers belonging to Generation Z are increasingly aware of the environmental and social impact of the production of clothing and accessories.
For this reason, companies in the sector are trying to adopt sustainable practices, such as using organic or recycled materials, reducing fabric waste and implementing low-impact production processes.
Furthermore, Generation Z is rewarding brands that are committed to sustainability, showing a preference for manufacturers that demonstrate real social responsibility.
Brands such as Patagonia or Stella McCartney are recognised for their concern for the environment and social responsibility. Both are committed to producing clothes using recycled and organic materials and support various environmental causes.
Lifestyle brands can navigate uncertainty thanks to digital
Economic turmoil in 2023 will certainly affect consumer choices. We can imagine that inflation and the rising cost of living will make consumers more careful and invite more selection in purchasing. In this context, the potential offered by technologies such as augmented reality, the metaverse and virtual reality will become increasingly important tools for fashion and lifestyle brands wishing to improve their online presence, satisfy their customers and maintain a high level of competitiveness.
Thanks to these technologies, customers can experience products in a more interactive and engaging way. Brands can use these tools to enhance the customer experience, increase customer confidence in buying products online and improve knowledge of their tastes and preferences. In addition, these tools offer brands the chance to create new marketing opportunities, such as sponsoring virtual events and working with virtual influencers and brand ambassadors.
In this context, for example, new ways of enjoying lifestyle content and interacting with brands and influencers arise. A concrete example is provided by Mooore, the first digital lifestyle hub in Italy that allows each user to express themselves and their personality, identify their style and choose how to present themselves. Likewise, influencers can use the platform to tell their world and find followers and sponsors, while fashion and lifestyle brands can increase their visibility on targets in line with their offer.
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