Jessica Piard

Prof .C. Ioele

In today’s fast paced environment it seems like fads change and evolve in seconds

with the help of the digital world. So when we ask the question of what consumers want

today, it is important to acknowledge apps like Tik Tok and Instagram whose algorithms

have impacted the lifespan of a product's popularity to a consumer; Interest is now

being led by the digital world —a constant stream of influence.

What do consumers want today? Global Management Consulting Firm Mckinsey &

Company’s tracker tool ConsumerWise provides a look into “consumer spending” 1 and

“consumer sentiment” 2. For the year 2023 they have established four observations on

consumer behavior:

1.“Trading down and splurging selectively” 3

● Consumers are selling their items in order to buy similar but cheaper items and

“dupes” while also choosing to put their money into experiences “think

restaurants or travel”.

2. “Shopping everywhere and all at once” 4

● Consumers expect brands to be ready with multiple ways to shop or

omnichannels. Mckinsey finds that “while 75 percent of consumers want a

1
Kohli, Sajal. “The World of ‘Ands’: Consumers Set the Tone.” McKinsey & Company, McKinsey &
Company, 8 June 2023,
www.mckinsey.com/industries/consumer-packaged-goods/our-insights/the-world-of-ands-consumers-set-t
he-tone.
2
ibid.
3
ibid.
4
ibid.
 seamless omnichannel experience, only 25 percent are satisfied with the

experience that retailers provide” 5

3. “Finding comfort in familiarity and exploring brand promiscuity ” 6

● During the pandemic- consumers found comfort in shopping with familiar big

brands. However there has also been a recent strong interest in smaller or newer

brands as Millennial and Gen Z consumers “are five times more likely than older

generations to believe that newer brands are better or more innovative than

established brands” 7.

4. “Demanding sustainability and affordability” 8

● Demand for sustainable fashion continues to increase. Mckinsey brings up an

interesting observation that “50 percent say they’re not sure whether they would

pay a premium for sustainable products in times of inflation” 9. Inflation has then

also created a general desire for affordable clothing as consumers are now more

hesitant to spend.

In addition to these four insights from Mckinsey & Company, a fifth insight also holds

true which is that the constant exposure to online fashion fads have led Millenial and

Gen Z consumers to feel that there is a sameness of style developing as everyone wants

and is being advertised to buy the same products. This has left them with a desire to

define their individuality- looking for pieces that are unique and one of a kind. This is

also why the trend of upcycling and vintage clothing have gained such traction and

popularity. Pantone’s Fashion color trend report for Spring 2024 predicts consumers

5
ibid.
6
ibid.
7
ibid.
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will expect: “multi-faceted colors that speak to our desire for personal authenticity and

meaningful expression”10

How can a brand satisfy their expectations, needs, and wants? Brands need to

be prepared to take a stance and bring to their consumers a clear argument and opinion

for what they stand for. For example sustainability, affordability, diversity, equity

inclusion, body representation - whichever cause they choose, consumers want to be

recognized and appreciated as individuals, they want brands to have an authentic

message or product and not create similar items just because of a fad promoted on

social media.

To combat consumers' hesitancy to spend, brands have to develop creative

solutions in order to deal with inflation, acknowledge political or environmental events

happening where they produce their clothes , and check their own image making sure

their practices are ethical.

To compete with upcycling and thrift stores’ prices and unique finds, brands can

use recycled material for sustainable practice, while also creating one of a kind unique

pieces that make the consumer feel that they are not like everyone else.

Name a brand that is doing a great job and explain why Harris reed is a great

example of a brand that is doing a great job. Harris Reed is a designer who in recent

years has risen to fame as the creative director for Nina Ricci, a designer advocating for

gender fluid designs, and a strong voice in the fashion, beauty, film, and digital industry.

10
Pantone. “Pantone Fashion Color Trend Report Spring 2024.” Pantone,
www.pantone.com/fashion-color-trend-report . Accessed 5 Oct. 2023.
 From his about page “Reed’s design process takes inspiration from the current

social and political issues that he feels most connected to and the work is built from

assessing the responsibility that fashion has to spark conversation in relation to the

injustices that are happening within society today”11

Reed is a great example as he gives us art to look at with his extravagant and

unique silhouettes, even though the majority of the public cannot participate in

purchasing some of the items, Reed is using fashion to start a conversation.

Reed has also taken advantage of the digital era as he stays relevant on social

media, has taken advantage of omnichannels, and creates statement pieces worn by

current celebrities that have been praised by many for the individuality of the pieces.

The message Reed puts out is that it is ok to be you, to be unique which is exactly what

consumers are looking for right now.

11
“Harris Reed .” Harris Reed, www.harrisreed.com/about.Accessed 5 Oct. 2023.
 Sources

https://www.mckinsey.com/industries/retail/our-insights/state-of-fashion

https://www.mckinsey.com/industries/retail/our-insights/state-of-fashion

https://www.pantone.com/fashion-color-trend-report

https://www.harrisreed.com/about

https://fashionista.com/2021/01/harris-reed-mac-makeup-collaboration

https://www.gq-magazine.co.uk/fashion/article/harris-reed-autumn-winter-22

https://www.harpersbazaar.com/fashion/fashion-week/a39139488/harris-reed-fall-20
22/

https://www.standard.co.uk/insider/fashion/harris-reed-london-fashion-week-intervie
w-designer-harry-styles-b1025605.html