In a new report, the brand performance agency Launchmetrics analyzes the popularity of brands among Generation Z as well as the interest of spokespersons in driving consumer engagement.
The group known as Gen Z (Generation Z), encompassing the population born between 1997 and 2010, is constantly pushing brands to rethink their marketing approach. More conscious in their consumption, seeking meaning and authenticity, this generation demands that companies adapt to their values and concerns.
The brand performance agency Launchmetrics has just released a new study dedicated to deciphering this target group and its impact on the marketing strategies adopted by fashion houses.
Between 2020 and 2023, the top 20 luxury brands experienced an average growth in media impact value (MIV) of 69%. This metric assigns a monetary value to publications and interactions related to a brand, news, or personality. In this ranking, Dior, Chanel, Louis Vuitton, and Gucci maintain their positions in the top 5 compared to the 2020 data. Notably, Prada surpassed Saint Laurent by moving into the fifth position.
Dior continues to lead with a +73% MIV. One of the most remarkable performances is by the Spanish brand Loewe. It saw the highest growth since the pandemic (+168%), going from being absent in the 2020 ranking to 13th place in 2023. This success can be attributed to the bold designs created by the creative director JW Anderson, which have consistently been shared on social media. According to Launchmetrics, these successes are largely due to the ability of these brands to engage with Generation Z. This highly connected generation tends to follow brands closely that share their values and tastes.
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Another trend that stands out is the appeal of this demographic for sportswear. Symptomatic of a post-lockdown era, the search for comfort encourages consumers to turn to brands like Nike, which reigns supreme by maintaining its position as number 1 in the mass-market segment. The brand’s focus on influencer marketing led to a 90% growth in its MIV, highlighting the importance of this strategy for connecting with younger audiences. This phenomenon has not gone unnoticed by major luxury houses, which are incorporating elements from micro-trends such as tenniscore.
Gen Z and K-pop
A quintessential marketing tool, brand ambassadors remain more necessary than ever in implementing strategies. In 2023, the share of celebrity voices in the MIV of fashion houses increased by +347%. However, the report notes a shift in celebrity profiles. Previously focused on Western personalities, brands are now turning to names from the Asia-Pacific region. Overall, 70% of the celebrities who generated the most MIV in 2023 in the fashion sector came from this region. This trend is supported by the immense success of K-pop groups and their members, such as NCT, NewJeans, and Enhypen, who secured top positions in global rankings. Major fashion houses are now tapping these profiles to attract their fans to their products.
Among the most notable celebrities, the study also names Indian actress Avneet Kaur, who generated $97 million in 2023. Singers Dua Lipa and Becky G and actor Dwayne Johnson also feature in the top 20.
Influencers: Valuable Assets
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Featured Photo: © Ruo Bing Li
