Generational Differences In Fashion Industry - Essay Example

Generational Differences in Fashion Industry Generational Differences in Fashion Industry Fashion industry remains a proactive and complex issue among marketing practitioners, researchers and firms that is worth understanding. Thus, not only does the fashion industry create a point of focus in a competitive nature, but also serves as a turning point inform of high profitability in a multidimensional ways. Therefore, at any level of market competition and profitability, the purchasing power goes hand in hand with the fashion consumption1.

Conversely, with a rich and diverse market revolution, the literature style centrally adopt a behavioral use in conjunction with subjective outcome such as customer’ loyalty, satisfaction as well as customers’ way intentions for success. In this regard, the fashion industries evolve around generational differences in the fashion industry in branding, cross-cultural comparison, behavioral consumption as well as customers shopping values. Analysis presented in this paper is helpful in understanding the impacts and effects of generational differences in the fashion industry in relation to branding, behavior, cross-cultural consumption, and customer shopping values.

Further analysis and evaluation reveal how fashion industry consumers can get frustrated if their favorite retailer doesnt "get them" or fails to meet their needs2. In addition, the paper uncovers how Product developers need to be aware of generational difference to ensure they address the needs of their particular target customer. In general, the paper explores across shopping priorities and habits between Millennials/Generation Y (born 1979-2000) and Generation X (born 1965-1978). Further, analysis and examination reveals similarities and difference that exist between the types of shopping/retail environments that each of these two generations prefers to shop and how advertisements appeal affects each generation.

The concept of the behavioral consumption affects generations to generations. For instance, there is always a significant gap between generation X and Y in terms of customer segmentation, experiences in the retailing setting as well as individual retail format. However, to some extent, there are some similarities shared among these generations. Nevertheless, the customer satisfaction, intentions or loyalty mark a contributing factor in terms of subjective insight in which the two Generations can be compared3.

For example, Generation Y (born 1979-2000) perceives retail expenditure most commonly than the intention of the product manifested by demographic and psychographic factors. In simple terms, Generation Y (born 1979-2000) tastes and values in relation to fashion styles are mostly directed to social distinction and identification. In this regard, personal appearance in hedonic and value utilization such as the hairstyle, clothing and jewelry intend to keep their social identity. In contrast, Generation X (born 1965-1978)possess fashion consciousness or always alert to the fashion latest trends regularly changes in the customers taste, affection and consumption behavior.

In this regard, the level of fashion awareness, interest, and fashion reaction differ from Generation Y take long to response to fashion trends compared to generation Y. From a different perspective, Generation Y displays a greater consciousness of comfort, quality, and values in relation to fashion. Therefore, they have a higher purchasing and expenditure power for the new products compared to the older generation who at most cases intend to limit spending on fashion. In addition, generation Y are attuned to fashion and may intend to prefer to spacious store layout and shopping environment.

However, although the two generations differ in psychographic factors, both the generations are more impulsive to the respective fashion purchase. Fashion shopping priorities and habits affects both generations in the level of knowledge, interest, and reactions. Generation Y has higher priorities to fashions that make them look modern and more comfortable shifting their priorities to high-quality fashion and market changing trend that affects affect fashion compared to the generation X. In this regard, Generation Y can get frustrated if their favorite retailer doesnt "get them" or fails to meet their needs by producing quality product and comfort fashion values.

However, both generations care less in regard to environmental stores than rather the actual fashion merchandise. In addition, both generations prefer to shop their fashion at overcrowded stores4. Furthermore, the types of shopping/retail environments that each of a generation might be the same if their respective behavioral consumption in conjunction and subjective outcome factors such as loyalty and satisfaction meet their demand and interests. On a broad front, despite Generational differences in the fashion Industry, Generation X do not mind fitting to norm and are motivated to fit in identity compared to generation Y.

However, each generation will develop or grow to meet their respective fashion and needs. Advertisement appeal for both generations would not change with the change in needs and growth as both generations would grow to share same things and needs. Generation X would prefer non-conformist and humorous advertisement5. Generation Y is a career and goal driven generation; its advertisement would be expected to explain the product features that include fast moving graphic and high quality that is similar to the kind of lives they live.

In this scenario, most thriving fashion industry would adequately present the generational needs directed individual’s priorities and needed, time and the society events6. However, as the generation reaches a particular age, the needs become similar resulting to different advertisement for similar products. Reference Schnedlitz, Peter. 2010. European retail research 2010. Wiesbaden, Germany: Gabler. http://public.eblib.com/choice/publicfullrecord.aspx?p=751292.