Strategic Fashion Marketing

The Impact of Social Media On The Fashion Industry, Branding And Consumers.

Danielle Anastasiou Strategic Fashion Marketing ARTD3039 Words:

Styling & Photography: Danielle Anastasiou, 2018 Model: Puiwan Quan

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Contents.

- Strategic Fashion Marketing Report 2018 -

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Strategic Fashion Marketing

Social Media Landscape

Luxury On Digital

A detailed introduction into what the report will examine

Strategic Issues surrounding the fashion landscape

Landscape of the social media environment

How are luxury brands are adapting to digital technology

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Obessesion with Social media

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Executive Summary

This chapter explores why consumers are so obessed with Social Media

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Social Media Influencers This chapter explores why social media infuencers are so effective

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Consumers Privacy

Mental Health

Consumers concerns with social media privacy

This chapter explores how social media is increasing mental health

Will Social Media Kill Branding?

Social Media Fatigue

This chapter examines how social media is killing brands and their messages

A detailed analysis of consumers developing social media fatigue

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Conclusion

Conclusion draws together and synthesises the research and analysis of the report

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Bibliography and Reference List Bibliography and Reference List of quotes and images used

- Introduction -

- Introduction -

1 Executive Summary

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trategic market management is a system designed to help management “create, change or retain a business strategy and create strategic visions” (Aaker, D P.10). In today’s fast-moving world, consumer expectations have altered due to the profound rise of technology and how we interact with the world. Consumers now live in an area of category-of-one brands like Google and Amazon, that dominate their respective sectors and have become the anchor points for the entire ecosystems of other players. Today consumers live on screens, seamlessly jumping from laptops to smartphones, switching from social media platforms to smartphone applications to web pages. Consumers are not only conspicuously and compulsively using their phones, but they also believe them to be the utmost significance to their lives with a staggering “3.196 billion global social media users in 2018, equaling 42% penetration” (Kemp S, We Are Social 2018).

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It will study how the key to success lies in how rapidly brands change their marketing approach and adopt new strategies in response to consumer predilections. Additionally, it will explore how social media platforms help improve affirmative feelings such as self-confidence, self - helpfulness and self- efficiency for consumers as well as observing how the misuse of social media, triggers social media fatigue. Moreover, this report will provide a theoretical model for social media fatigue and its antecedents; privacy worries, FOMO, mental health, and consumer consumption. The results suggest that the growing privacy concerns, and the rise of mental health has lead to consumers developing social media fatigue. However, consumers’ conscious decision to endure social media mirrors their beliefs that constant habit offers results that are more promising than the discontinuance of use.

Stategic market management is a system designed to help management create, change or retain a business strategy and create strategic visions - Effy Oz 1998

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Figure 3 - Pinterst, 2018 Model using mobile device to take a photo

Figure 2 - Pinterst, 2018 Model using mobile device to take a photo

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- Strategic Fashion Marketing -

- Strategic Fashion Marketing -

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BCG

Strategic Fashion Marketing

Corporate Strategy Pest & Swot Objectives

Marketing Strategy Target Segment Positioning Implement Marketing Mix Product

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Promo

Place

Process

People

Figure 5 - Jackson, T and Shaw, D. (2009) Mastering Fashion Marketing England: Palgrave Macmillian

Figure 4 - Burberry Campaign Adwoah Aboah

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Price

n today’s ever more unpredictable world, the oscillation of business environments has meant an increase in turbulence, which has and will continue to disrupt markets. In this high velocity and innovative fashion industry, the biggest challenge brands are now confronted with is the expansion of the critical strategic thinking, and analytical skills desired to adapt rapidly and successfully to the environmental and market changes.

Subsequently, the fashion industry has undergone a seismic change in the last decade where consumers are infatuated with constant newness. Deploying the ELIPSE framework (Figure 9) can help brands illustrate the changing reality of the business environment and the circumstances that executives must comprehend and respond to in their formulation of strategic choices for the firm (Thind, 2017 p.7).

As stated by Porter, many brands strategic planning concepts have and are continually ignoring industry desirability and ‘stressed the pursuit of market share; often a recipe for pyrrhic victories (Porter M, p3). Consequently, this has generated a fight for share in an unpleasant industry, which may not be lucrative, and the fight for itself may make industry structure inferior or erode profitability. Jackson and Shaw identify a marketing strategy (Figure 5) that clearly sets out a sequence in which “brands should plan, make and implement decisions that spam the strategic through the operational”.

This framework is crucial for brands to develop; as it ultimately enables brands to determine how quickly changes in the environment are going to impact them. However, it is crucial for brands to be aware that the intensity of these industry dynamics will transform over time and that they are not mutually exclusive, but inter-related and help set the strategic framework and context in which a brand will work and compete.

“Some companies have great strategies, and do a lot of talking, but they dont get it done”- Domenico De Sole, Fromer Gucci Group CEO

Figure 6, 7, 8 - Burberry Bag, Adwoa Aboah in a series candid images captured in North London

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- Strategic Fashion Marketing -

ECONOMIC

LEGAL

Labour Market Imbalances

Human Rights Regulation

Infrastructure Neglect

NGO Pressure

ETHICAL Religious Shifts Biodiversity Loss

- Strategic Fashion Marketing -

MARKET RIVALRY AFFECTING THE FIRMS COSTS, PRICES & PROFITS

Clean Energy

INNOVATION Cyber Secruity Artifical Intelligence Digital

POLITICAL

SOCIAL Demographics

Government Ideology

Ecology

Policy Creation

Globalisation

Welfare

Figure 11 - “OFF-WHITE” Spring 2019 Ready- to wear collection Figure 10 - “OFF-WHITE” Spring 2019 Ready- to wear collection

Figure 9 The ELIPSE macro business environment Ranjit Thind p.6

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- Social media landscape -

- Social media landscape -

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Social Media Landscape

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Consumers today are cemented to their mobile phones “in a pattern of habitual usage that provides them instant access to news, social media” and much more (Bright L. Emerald 2017). Driven by developments in technology and smartphones access, social media has pervaded into consumers lives in an unknowing manner. As a consequence, the rise of social media and consumer attitudes has dramatically shifted; meaning the trajectory of digital in fashion has come into sharper focus and is now a vital component of the advertising mix used by brands to connect with their consumers (Mckinsey 2018).

It has the potential to impact “the design and delivery of brands on a much larger scale as consumers become more adept at taking control and influencing brands through its use” (Kohli C, p.38).

Lastly, social media has the capability to make information more accessible and rather than traditional media, social media has allowed brand awareness to spread much more virally through ‘sharing’ on Instagram and ‘re-tweeting’ on Twitter accounts.

Furthermore, a 2016 Global Web Index survey of more than fifty thousand global internet users found that the average person has eight social media accounts and spends one hour and fifty-eight minutes a day or a third of their entire internet time browsing them (Ormerod K P,12). Social media has malformed the traditional marketing communication model and has in its place created a paradigm shift (see Figure 13). As a result, consumers are not only in control of the communication approaching towards them, but they can also initiate communication focused on marketers. Social media is also a distinctive platform as it not only allows the consumers to control the information they receive from brands but also pass on their personal experiences with the brand to their peers.

This severe spreading of our online social sphere is presaged by a seemingly endless stream of notifications notifying us, persistently, of what we’ve missed online. These notifications have provoked a state of near constant panic, normally partnered by a nauseous disgrace at being so subjected to them. Further, with this in mind, it is undeniably crucial for brands to acknowledge how consumers are interacting with brands in this social media nature and “whether the abundance of brand information is contributing to social media fatigue” (Bright L. Emerald 2017).

50,000

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Social media will help you build up the loyalty of your current customers to the point that they will willingly, and for free, tell others about you. - Bonnie Sainsbury

Traditional Model

Social Media Model

Consumer One

Marketer

Consumer One

Marketer

Consumer Two

Figure 13 - Communications Model, Will Social Media Kill Branding? P.37

1.5hrs Figure 12 - Images relating to Scarlett Carlos Clarke’s Body Dysmorphia from Social Media

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Consumer Two

- Social media landscape -

- Social media landscape -

Table 5.1 Social media development in 2016

Social media has developed into an ‘enabler of global marketplace’ overcoming issues such as time and distance and has empowered consumers to connect with their friends, rapidly shape their opinions and eventually delimit brands by themselves (Pires et al, 2006: 937). Figure 15 shows a timeline on how rapid the development of social media is being leveraged into brands strategies to interact with consumers and how it is a critical source of growth and a powerful way to increase brand purpose and equity (Mckinsey 2017).

Therefore, leadership teams must now advance a systematic understanding of how digital technologies are affecting and pushing the company’s business model from a mindset of control to one of flexibility. Brands who adapt to this utterly revolutionized landscape will grasp big data to better comprehend their audience, that will then be applied within the entire value chain to create bespoke experiences and provide clarity to a brands value proposition (See Appendix 1 Value chain).

The fashion industry uses social media to nurture brands, Instagram particularly; the most visual of social applications, has appointed into the fashion world’s environment and has converted into a vital part of the conversation. As a result, fashion and social media are entwined and is integral for any brand to be aware of.

Jan

Periscope begins broadcasting directly within Twitter London Fashion Week utilises live streaming of catwalk shows

Feb

Facebook launhes Canvas, a full-screen and immersive mobile advertising experience

Apr

Facebook allows chatbots to be used within its Messenger function and launches Live to all users

Jun

Instagram introduces new features which allow customers to call or email businesses they follow

Jul

Instagram rolls out keyword blocking to everyday users, giving greater control to brands

Aug

Instagram launches stories, which allows photos and videos to disappear after 24 hours Pinterest launches promoted videos for brands Snapchat launches Geo Stickers, offering brands the option to sponsor stickers at targeted loca-

Sep

Snapchat launches Spectacles, which allows users to record video snippets to their Snapchat Memories

Oct

Facebook launches Marketplaces, an online exchange

Figure 15 - Social media development 2016 Thind, R P. 66

Figure 16 Burberry Campaign Iris Law 2017

Figure 14 - Iris Law casts her friends in a celebration of self-expression for Burberry

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- Social media landscape -

- Social media landscape -

Figure 17 - Burberry Campaign Iris Law 2017 Figure 18 - Burberry Campaign Iris Law 2017

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- Social media landscape -

Monthly active Instagrammers

500M

Daily active Instagrammers

300M

Instagrammers now use Stories every day

T

Sus t a ining cons umer needs ma y be prerequis it e for indus t ry profit a bilit y, but in it s elf is not s ufficient .

The v it a l ques t ion in det ermining profit a bilit y is whet her t his v a lue is cont es t ed a wa y t o indiv idua ls .

Additionally, if brands choose to use social media to advance their competitive advantage, “activities in an organizations value chain can be impacted by the use of social media will be identified” (M, L Singla 2015). As well as using social media to differentiate brands from its competitors, it allows the results of using social media to be measured, analysed for cost and focus. As shown in Figure 20, one of the primary activities ‘sales and marketing’ is the most useful out of the model as it can maximise the use of social media.

An example of firms who are excelling in applying this model to their business strategies is fashion retailer Gym Shark and food site Foodservice, where they use social media constantly to run marketing campaigns and offer discounts to their consumers. Social media is thus penetrating the value chain giving brands opportunities to invest more time in social media in a bid to regain relevance with consumers and exert greater influence on how they make purchasing decisions.

Primary Activity

800M

h e d e m o c r a c y of s o c ia l media ha s crea t ed a n e w ge n e r a t ion of m ille nnia ls , who a re inf a t u a t e d w it h c o n s t a n t n e wnes s a nd whos e liv e s r e v o lv e a r ou n d s h or t - t e rm ‘Ins t a gra mma b le ’ m om e n t s . O n e w a y t o a s s e s s t he pra ct ica lit y of s e v e r a l s oc ia l m e d ia m ot if s wit hin a bra nd is t o e x p e r im e n t u s in g s oc ia l m e dia , a bra nd is a ble t o g a in c om p e t it iv e a d v a n t a g e v is -à -v is it s comp e t it or s . I n M i ch ae l Por t er s 1 9 8 5 public ation “ Co m pe t i t ive A d va nt a g e ” h e ha s defined how b r a n d s c a n e n h a n c e t h e v a lu e cha in by crea t ing a s u s t a in a b le c om p e t it iv e a d v a n t a ge us ing t hree d is t in c t iv e m e t h od s s u c h a s C o s t Lea ders hip, Diff e r e n t ia t ion a n d Foc u s ( A p p e n dix 2 ) . “ C o mpe ti t ive a d vant a g e d e s cr i be s t h e way a firm c an ch o o s e a n d i m p le m ent a g en eric s trategy to a ch i eve a n d s u s t a i n co m pe t itive advantage ” ( Por t er, M ) . Fu r t h e r , it h a s r e gula rly been s a id t h a t s a t is f y in g c on s u m e r n e e d s is a t t he core of a c h ie v e m e n t in b u s in e s s e n d e a v our. Howev er, t od a y ’ s c on s u m e r s m u s t b e w illin g t o pa y for a price or a p r o d u c t t h a t s u r p a s s e s it s cos t of product ion , o r a n in d u s t r y w ill n ot la st in t he long run.

Procurement

Supporting Activity

- Social media landscape -

Human Resource Management Firm Infrastructure Technology Development Inbound Logistics

Operations

Outbound Logistics

Knowledge Management for process sharing

Customer feedback

Marketing Campaigns

Collaboration with suppliers

Inventory Information

Lead Management

Intelligence about suppliers

Retailer collabortion

Public Relations

Supplier relationship management

Sales and Marketing

Advertising Reputation Management Brand Management

Figure 20 - Usage of social media in Porter’s generic value chain

the right moves online can send reputations soaring sky high. Trigger-happy tweeters, bloggers, YouTube visitors, Facebookers and “ Making have forced companies to invest in a whole new important activity - online reputation management ” - Businessworld

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Figure 19 - Monki social media campaign images 2018

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Margins Service

Pre-sales

Customer Support and Engagement Peer to peer support Post Sales

- Social media landscape -

- Social media landscape -

Self-helpfulness signifies the degree to which consumers increase helpful information and resources from their examination of social media applications.

Social media has provided a platform for consumers to express their opinions in an open medium where other like-minded individuals can overhear their opinion. Foster, Francescurri, and West (2010) established that individuals use social networks for its information value and is a platform for a community of people to trust those who are commenting and answering questions. Social media enhances the power of online communities in various ways (Miller et al., 2009; Antonacci et al., 2017).

Firstly, social platforms have provided brands the opportunity for them to build a meaningful relationship with their consumers in which views can be exchanged and opinions can be expressed.

Styling & Photography: Danielle Anastasiou, 2018 Model: Puiwan Quan

Styling & Photography: Danielle Anastasiou, 2018 Model: Puiwan Quan

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The book “The Shallows’ written by Nicholas Carr is a stimulating read, that argues that consumers are now just “pitiable slaves to machines” (The Guardian 2010) and emphasises the growing anxiety to the 21st century. He argues that in today’s environment we live in a world of interruptions that exist because of individual’s impulse to be frequently connected. Due to this, it has created consumers to become less focused and now that brands are investing more money into social media than ever, it is important to pull apart how this structure of disruption and fatigue is impacted by the manifestation of brand messages.

- Luxury on Digital -

- Luxury on Digital -

4 Luxury on Digital

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Exhbit 1 - Already, Almost Six Out of Ten Luxury Sales Are Digitally Influenced uxury was once grounded by high price tags that offered consumers exclusiveness, consumer spending and opening new stores in emerging markets.

Although they have been spectacle of the value of the digital environment, hesitation from the luxury world is not without reason. Rarity and exclusivity often lie at the heart of the luxury business model, while digital can make a transformative alteration in the capability to reach and retain customers.

Subsequently, consumers are continuously distracted by indistinguishable marketing and are now anticipating an effective e-commerce, engaging and exciting interaction on social media, and multiple channels through which to interact with brands (The Boston Consulting Group 2016).

Predominantly, this is called the ‘instant gratification generation’ where consumer’s expectations have risen considerably. Porters five forces (Appendix 3) identify a number of factors that social media and digital technology can impact the fashion industry.

For many luxury brands, digital is a harsh new reality that leaders must understand. Without being active on social media it prohibits being in control of what and when consumers talk about their brands. Firms have to challenge the new anxiety between their traditional world of exclusiveness and access of the web for everyone.

A 2018 report from The Boston Consulting Group stipulates that almost six out of ten luxury goods sales are digitally influenced (See Figure 23), despite digital remaining a harsh, new reality and an unavoidable, inevitable business shift for many luxury brands. Additionally, digital is changing how affluent consumers shop within this new configured luxury sector.

New products have already been birthed as well as creative business models, and original channels. A partnership with Apple and Hermes to create boldly colourful leather straps and a delightful new watch is an innovative example of a fresh new movement that showcases how digital is reshaping the luxury fashion industry.

42%

Store only

Researched online, purchased offline

Checked at the store, purchased online

The new evolution of technology has created consumers to have high expectations where they expect instant feedback, the ability to order swiftly and effortlessly online and push for faster delivery.

Brand leaders must comprehend how digital and social media is altering their markets in order to not lose competitive advantage.

41%

9%

58% Online only

82%

Figure 23 -BCG analysis, 6/10 Luxury good sales are digitally influenced

“ The way luxury presents itself will be challeneged and its perceptions will be altered. Ideas, concepts, attitudes, behaviors, expectations and interpretations will evolve. All of these will be accelarated by the Internet and digital media. ”

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DIGITALLY INFLUENCED

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- Luxury on Digital -

- Luxury on Digital -

Styling & Photography: Danielle Anastasiou, 2018 Model: Puiwan Quan

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- Why are consumers so obssessed? -

- Why are consumers so obssessed? -

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Why are consumers obsessed with Social Media?

“ Consuming social media content from the moment we wake up to the instant before we sleep, and allowing the worst sides of it to slowly eat away at our sel-esteem, sense of identity and happiness” - Ormerod, K 2018

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ocial media gives consumers an avowedly endless amount of content available to their timelines, yet they do not have the capacity to process all of it. Conversely, not only are consumers conspicuously and uncontrollably handling out phones, but they also believe them to be of utmost prominence to their lives. In 2011, a McCann world Group analysis of the youth market found that 53 percent of millennials aged 16-22 would rather lose their sense of smell than lose access to an item of technology. These alarming results indicate how such habitual use could lead to not only social media addiction but also lead to sturdy feelings of fatigue.

This nature of social media has pushed significance in the idea of ‘Fear of Missing Out’, commonly insinuated to as FOMO. FOMO can be defined as a “pervasive apprehension that others might be having rewarding experiences from which one is absent” (Przybylski et al, 2013, p. 1841). Undeniably, a recent study found that “60 percent of millennials report feeling “inadequate” about their own life because of something they saw on social media, and as a result, “57 percent say they parted with money they hadn’t planned to spend.” (Carter S, 2018).

Figure 27 - Pinterest, social media campaign 2018

53%

60%

57% Figure 26 - Pinterest, social media campaign 2018

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- Why are consumers so obssessed? -

- Why are consumers so obssessed? -

‘Self-confidence’ Individuals needs for selfworth to feel like they belong to a community.

Individuals desire to be accepted; they are social creatures by nature and have the intense need to be liked by others. “There are very few living creatures that can do it on their own and generally one does better in groups, so social media takes the group concept to the extreme, where we can now communicate with each other even more” (C, Squier 2016). Figure 29 shows a modified version of Maslow’s Hierarchy of Needs, where the level ‘Self-Confidence’ has been added to resemble that of a consumer who uses social media to post a picture in the hope they’ll receive positive feedback from peers in order to fulfill one’s self-confidence and reassurance.

“It’s that acceptance in romantic relationships, from friends even from strangers is absolutely fundamental to humans”. (Nathan Dewall 2011).

Furthermore, further research has been gathered to conclude that programmers have oppressed our brains natural reward system to hook us to our social media feeds, in what some called ‘brain hacking’ (Ormerod K p.9). Our uncontrollable necessity to stay engrossed has infiltrated our lives that most people are now suffering from ‘nomophobia’; a dread of being away from our phones and social media accounts. Moreover, consumers are increasingly relying heavily on social media to engage with their favourite brands, and can experience FOMO if they do not receive the latest content and offers.

However, the persistent information from brands via social media has led to social media fatigue, creating a contradiction and a puzzle for advertisers.

To the Left Stylying & Photohraphy: Danielle Anastasiou, 2018 Model: Puiwan Quan

Self - actualization: achieving ones full potential, including creative activities Esteem needs: prestige and feeling of accomplishment

Belongingness and love needs: intimate relationships, friends

Safety needs: security, saftey Physiological needs: food, water, warmth, rest Figure 29 Hierarchy of needs, Posner, H P.116

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- Why are consumers so obssessed? -

- Why are consumers so obssessed? -

Styling & Photography: Danielle Anastasiou, 2018 Model: Puiwan Quan

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- Consumers obsession with Instagram -

- Consumers obsession with Instagram -

6 Consumers obsession with Instagram

800M

Monthly active Instagrammers

500M

Daily active Instagrammers

300M

Instagrammers now use Stories every day

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nstagram over the years has dramatically changed and is a contributor to the shift to a more visual world.

According to WARC 2017, the human brain processes images 60,000 times faster than words and in an age characterized by the exponential production of information, coupled with less time to consume text, people are relying more and more on visual communication. Mobile first millennials are particularly highly engaged users of the application and are eager to produce, share and view captivating visual images and videos. Instagram has created many features that permit consumers to purchase items quickly and efficiently.

In May 2018 brands were able to tag products on their Instagram posts to let consumers shop directly through the application, usually leading to a point of sale. Consequently, the rapid growth and consumption of Instagram has made it hard for consumers to ignore.

With these new features, social media is now often seen as the best solution to every brand marketing problems. Many brands are now using the strategy of deluging and overwhelming messages to their consumers in order to get their messages across to consumers.

However, brands that ally with causes that have nothing to do with their core DNA are losing their authenticity; causing consumers to become increasingly wary. “There has been a shift in perception among customers of what an authentic expression of a brand is, and jumping on a cause is increasingly being viewed as not authentic.� (Max Lenderman, 2016). In order for brands to avoid this, they need to deepen relationships with their audience and create engaging content.

Figure 33 - Pinterest, social media campaign 2018 Figure 32 - Pinterest, social media campaign 2018

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- Social media Influencers -

- Social media Influencers -

7 Social media Influencers

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ig businesses have formally been developing increasingly ‘surreptitious ways of marketing products to consumers’ (L. Edwards) and have ignored this new emerging phenomenon; the influencer. The term ‘social influencer’ are individuals who have a significant following on social media and are targeted by brands (S.Baker 2018). This is an individual who has a substantial audience, and is perceived as significantly ‘normal’ to act as a trusted source of guidance for consumers.

An influencer who deeds ‘being normal’ well enough to disguise the fact they were being paid to promote products are the most successful in the eyes of brands and their audience. Furthermore, it is becoming more important than ever to build relationships with influencers who resonate with your brand and to create campaigns “49% of consumers depend on influencer recommendations” (Knightely E, 2017).

However, as Banet-weiser (2012) might argue, ‘whose audience was so saturated in a brand culture that they did not mind’. The evolution of influencers and what they are wearing on social media applications has created an enormous control on the way consumers shop, have meaningfully influenced our attitudes. Social media influencers have propelled individuals to careless and reckless financial behavior (K. Ormerod 2018). A high following on Instagram doesn’t simply just create a visual tangible achievement but also grasps the attention of so many individuals that it gives the impression that you really do ‘matter’ (Highsnobiety 2017).

49%

49%

6/10

Figure 35 - Pinterest, Re-touched in Illustrator a signal to the market that this influencer activity and the creativity is now at a level where it can be taken “ It’sseriously by big brands. The reason they can now put more into it is because it’s more credible and structured ” - Christina Newberry 2018 Figure 34 - Pinterest, Re-touched in Illustrator

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- Social media Influencers -

- Social media Influencers -

The evolution of influencers and what they are wearing on social media applications has created an enormous control on the way consumers shop, have meaningfully influenced our attitudes. Social media influencers have propelled individuals to careless and reckless financial behavior (K. Ormerod 2018).

Humans have a native propensity to compare themselves to others because this may help them to define ‘who am I’ and evaluate ‘How am I doing?’ (Festinger, 1954 2006). The pursuit of self - esteem is recognized by marketers as one of the most important motivational drivers often to as conspicuous consumption (Veblen, 1899) and therefore consumer decisions are regularly made within the context of enhancing self- esteem as well as a status development motive.

However, Instagram influencers are gradually fading and consumers are starting to recognize that not everything they view on social media is ‘real’ and there is a level of curation and simulation involved. Sandra Hagelstam says, “these days “just” blogging isn’t enough: “today there’s a sense that its not enough just to be an influencer. As we all become known as characters, people are looking for more than just self-promotion”. An article from Tracy Leigh Hazzard (CEO, Hazz Design) states “52 percent of Millennials said that they trust social media influencers less these days”. Following this, certain brands are now yearning for contrived, authentic “micro-influencers” who in contrast to mainstream influencers with millions of followers, micro influencers are those with 10,00 to 1000,00 total followers.

The trend of micro-influencers has morphed into the new norm for our new marketing landscape and is now key to the social media system that is an increasingly attractive channel to brands. Heavy weight brand Burberry, is an example of a brand who has harnessed this trend by investing in micro influencer @Emily.j.Odonnell, who has 20,000 followers on Instagram (See Figure 37). Burberry has used this as an advantage as these micro influencers have shown that on average they stimulate more engagement and exert more trust with their audiences.

aren’t put off by the fact that it’s sponsored - as long as it is relevant, enjoyable and engaging ” “Audiences - Scarlett London Figure 36 - LIFUL Fall/ Winter LookBook

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Figure 37 - Instagram @Emily.J Odonnell

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-Social Media Branding -

- Social Media Branding -

8 Will Social Media Kill Branding?

In relation to brand fatigue, the traditional branding paradigm often involves a pestering technique in confidences of constructing leading brands that could be leveraged to nurture reliability and a lasting stable stream of profits. However, it is imperative to keep in mind that the proliferation of brands messages can be draining and has dramatically altered consumer’s behaviours and their brand preferences. This rashly growing landscape has led marketers to feel lost and has essentially created the start of a tectonic change in the way brands are being managed.

Therefore brands that are exposed to social media need to be careful that social media does not interrupt their position due to there lack of restricted control.

“Brands need to have an authentic brand story that is consistent throughout the business to establish an emotional connection with consumers” (Drapers, 2015). The significance in brands using social media to connect with individuals emotionally is a valuable strategy to use even though it may be more difficult to execute. Consumers on social media have much more control and are more likely to trust their family and peers as supposed to heavy sponsored commercial messages.

As a result of excessive repetition in the social media age, it is now incredibly important for brands to focus on a meaningful differentiation, as it is a “detail-oriented process that takes into account consumer preferences and the competitive landscape” (Kohli C, p.39).

Therefore, brands that are exposed on social media, who lack authenticity and the ability to produce quality content, will not be successful. To conclude, brands will need to become more transparent as branding in its traditional form is now vulnerable on multiple parts, as it will now become clearer to consumers, shifting them towards more open niche brands.

The significance in brands using social media to connect with individuals emotionally is a valuable strategy to use even though it may be more difficult to execute.

Consumers on social media have much more control and are more likely to trust their family and peers as supposed to sponsored commercial messages.

Figure 41 - MISBHV Spring/Summer 2018 Lookbook

Figure 38, 39, 40 - MISBHV Spring/Summer 2016 LookBook

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Figure 42 - MISBHV Spring/Summer 2018 Lookbook

- Social media fatigue -

- Social media fatigue -

9 Social media fatigue

63%

would be happy if social media had never been invented.

57%

Of Gen Z state that social media is important to them

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n today’s digital world, the urge and need for validation have deepened for the straight-up reason that social media has made it quantifiable. However, with the intensification of pestering brands shoving material in consumer’s faces, there have been warnings that social media and the allegedly “lifeblood of the millennial generation could be at the start of a decline” (Financial Times 2018 Margolis J). Conversely, not only millennials but also countless users have diverged themselves, temporarily or permanently from social media due to social media fatigue. This can be defined, “whereby social media users suffer from mental exhaustion after experiencing various technological, informative and communicative overloads through their participation and interactions on the different social media platforms” (Dhir et, al., 2018, p.1).

Davis (1989) identified two concepts applicable to social media fatigue; perceived ease of use and perceived usefulness. Perceived ease of use can be identified as the “degree to which a person believes that using a particular system would be free from effort” (Davis 1989, p.320).

In relation to social media fatigue, if a consumer has received confident and positive feedback from peers and family on a brands website the perceived ease of use is likely to be high. Consequently, if the consumer feels overwhelmed by content, privacy settings, friend requests, and persistent posting the PEU could decrease.

I struggled with and ended up deciding against was the noise,” she said. “The constant connection was “What exhausting to me - Omar L. Gallaga 2016 ” Figure 44 - Pinterest, Arvida Byström 2016

Figure 43 - Pinterest, Arvida Byström 2016

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- Social media fatigue -

- Social media fatigue -

Many behavioral reporters have established that too much choice can impact our subsequent behavior in a result called ‘decision fatigue’ where consumers are exhausted from too many choices. This can be damaging for brands because fatigue can result in retraction from service use, which will fundamentally transform into lower profits. A survey found that “15m UK Internet users had undertaken a digital detox in a bid to strike a healthier balance between technology and life beyond the screen” (Offcom 2016).

Aral et al (2013) argue that social media is fundamentally changing the way we communicate, collaborate, consume and create; leading to a point of ‘content shock’ where consumers cannot absorb much more content than they already have (Smart Insights 2018).

This has changed today’s consumer leading to what is called the “Walkaway consumer’ (Mckinsey Podcast 2016), if consumers feel like they are being ‘sold’ to or over-bombarded with content they are just able to ‘walk away’, meaning brands need to equip themselves with new marketing strategies and focus on micro-moments of their consumer behaviors in order to flourish and create exciting content.

“I think there’s going to be a sense over the next few years, that there’s going to be social media fatigue that sets in. There’s so much information that is being produced, that people start tuning out.” (Hurley, C 2018)

Philip Kotler’s 6-step branding conceptual model (Figure 47) is pertinent for marketing in this age of emergent digital and social media. We live in an era of consumer authorization led by abundant information and networked communities where consumers are becoming more knowledgeable about their choices and are demanding better reasons to buy. David Aaker proposes that a brand should not only define its functional purpose but also highly express its brand purpose in its marketing strategy.

Figure 47 - Philop Kotler’s 6-Step Conceptual Model

Figure 45 - Pinterest, Arvida Byström 2016 Figure 46 - Pinterest, Arvida Byström 2016 40

41

“A brand vision should attempt to go beyond functional benefits to consider organizational values; a higher purpose; brand personality; and emotional, social, and self-expressive benefits” (D, A Aaker). Therefore, brands must have a clear and consonant brand-positioning differentiation that captures value, profits, real connection and intimacy otherwise they leave room for other brands to step in and disrupt the market (Appendix 4, The disruptive innovation model).

- Consumer concern with social media privacy -

- Consumer concern with social media privacy -

10 Concumers concern with social media privary

A

s the sheer pace of social media evolution continues to expand, the issues of privacy become ever more substantial to consumers. The circulation of fake news and the uncertain truth about consumer’s privacy on social media has led to “70 percent of respondents expecting businesses and advertisers to put pressure on social media sites to address false information and remove offensive content” (CEO Richard Edelman 2018). In 2018, consumers witnessed a revolutionary shift in the way they think about data privacy and brand trust.

The shocking news that Cambridge Analytica, a political data analytics firm, illicitly procured the data of 50 million Facebook users, without their knowledge or consent and allegedly enlisted that to inform voter-targeting strategies for Donald Trump’s presidential campaign created a burst of outrage. These results clearly show an immense shift in not only consumer expectations but also a shift in the power dynamic between consumers and brands.

have abandoned the three leading social media networks amid concerns over privacy “Users and platform redesigns - The Guardian 2018 ”

70%

2018

50M Figure 48 - Pinterest, Rina Sawayama 2017

42

43

Figure 49 - Pinterest, Rina Sawayama 2017

- Consumer concern with social media privacy -

- Consumer concern with social media privacy -

Figure 51- Pinterest, Rina Sawayama 2017

Facebook

Twitter

Snapchat

Figure 50- The Guardian: Company filings

As seen in Figure 50, brands have learned that there is a serious lack of confidence in social media in all regions of the world and is not detrimental for advertisers and brands to be clear about their data usage guidelines on social media. Although consumer data allows brands to grasp the precise audience and meet their needs and interests, reports show that “people are nervous about sharing personal data, fears of data breaches and misuse have them on high alert” (Daly, C 2016) and informs individuals decisions. Tsai et al. identified that brands with open privacy information can fundamentally alter a consumers’ purchasing behavior, resulting in them choosing an alternative retailer with better privacy policies.

For brands to rebuild their trust and loyalty with their consumers, it is vital for marketers to allow consumers to be in more control of their own information as well explaining to consumers how they will handle and safeguard their information.

Furthermore, in order for brands to reduce anxiety that consumers may have about ‘opting in’, they ought to provide choices to guarantee better user satisfaction and ultimately, loyalty.

Figure 52 - Pinterest, Rina Sawayama 2017 44

45

- Social Media Mental Health -

- Social Media Mental Health -

11 Social Media and the rise of Mental Health

20M

participants reported lower moods after using Facebook for 20 minutes

1,500

people say social media makes them feel unattractive.

85%

Reported feeling less happy and confident.

T

he upsurge of social media has meant that consumers as a global population are more connected than ever before. However, our addiction on social media can have a damaging effect on one’s mental health, with the average Brit checking their phone as much as 28 times a day (Barr, S Independent 2018). The action of perfecting ourselves in order to feel like someone you admire by using social media has been something consumers have rapidly mastered. “Social media sites are a validation feedback loop; exploiting a vulnerability in human psychology” (Parker, S 2017).

To be a digitally connected millennial today, consumers must exist in several dashes of realism. Individuals frequently seek opportunities for storytelling experiences, “producing daily content to the point that we’re almost convinced that our Instagram feeds are a truer representation of ourselves than who we are” (BoF 2018 Allwood, E). Those numbers under captions and pictures and the threat of an uncanny silence around digital updates give consumers a clear indication of how liked we are.

Box1824 cultural research group, who firstly adopted the fashion term ‘normcore’, open up about millennial anxieties and redefine the current youth generation Z as “GenExit”. Unlike their millennial predecessors, GenExit are dismissing the notion of the “personal brand” that has always been detrimental for consumers and are now seeking out for a more personal, private identity founded on beliefs and passions and where freedom and fluidity are fundamental. So what does this mean for social media and marketers? GenExit are more interested in social media applications such as Snapchat, as they offer consumers a more intimate and ‘and ephemeral than the likes of Instagram, which they find fatiguing. Brands need to accept the fact that they now must earn the trust of their audience in order to see a change. Consequently, if social media is triggering consumers stress and anxiety more than imperative things such as education, family and well-being than its time to reconsider the almost totalitarian power over our identities and emotions that we have willingly yielded it.

Social media is increasingly being used by the consumer when they’re stressed-out or bored, and endlessly scrolling through various feeds looking for a momentary reprieve from the real world going on around them (Hishsnobiety 2018). However, these social connections are increasing consumer’s mental anxieties with around “17.5 percent of female college students in the US have been diagnosed with or treated for anxiety” (K. Ormerod 2018 P,95). The blame for this drastic uptick has been laid squarely at the door of perfectionism where brands have also created pressure for individuals to be involved 24/7 in order to not feel left out. Shirley Cramer, chief executive of the Royal Society, explained: “platforms that are supposed to help young people connect with each other may actually be fueling a mental health crisis.” (Teen Vogue Ceron, E 2017)

Figure 53 - The Guardian: Company filings

46

47

Figure 55 - Dazed Digital, Campaign On Mental Health

Figure 57 - Dazed Digital, Campaign On Mental Health

Figure 56 - Dazed Digital, Campaign On Mental Health

Figure 54 - Dazed Digital, Campaign On Mental Health

48

49

- Conclusion -

- Conclusion -

o conclude, this report has identified that in today’s environment the proliferation of social media is continuously developing and has had a profound impact on the way consumers interact with each other and brands.

To be a hyper-connected millennial today, individuals must live in several realities. “To be both present within and outside of your own experiences, living them while simultaneously observing them; and assessing their sharability” (BoF). While the report first addressed the social media landscape and how likely it is to accelerate with the growth of mobile platforms, it also distillates how social media has entered individuals lives in an unprecedented manner. Moreover, throughout the report, there are growing indications showing that Millennials are showing signs of ‘social media fatigue’ often referred to as a “distraction sickness” where brands are not investing enough time on being authentic but rather, focusing on having constant content that has turned into ‘exhaust data’.

Barwise and Meehan (2010, p. 82) claimed that companies should “judiciously revise the marketing playbook rather than trying to rewrite it”. The key to success lies in how rapidly brands realise that the marketplace has evolved and how adopting this new branding paradigm and modifying their entire branding approach accordingly will help them grow. For brands now, it is critical to create engaging content and thoroughly understand how to communicate with their consumers in order to build meaningful relationships.

Consumers are now looking for solutions, and are looking for brands that think “long tail” (Anderson 2008). By understanding what your brand’s core values are and ensuring

With the word ‘authentic’ perhaps being the most popular marketing term at the moment, it has led me to focus my final major project on the eponymous clothing brand Stussy.

The report will aim to look into the relationship between streetwear and luxury fashion and that undeniably the precariously conjoined mutually beneficial relationship between them both is in flux. According to a 2017 study by consulting firm Bain & Company, luxury streetwear has helped boost global sales of luxury goods by 5 percent last year to an estimated 263 billion euros. The report will aim to educate the reader on the ‘new luxury’ and how the rise of disruptive brands such as Gosha Rubchinskiy, Stussy and Palace are all on the rise to contend for the same affluent millennial consumer. It will aim to address why social media plays a massive part with the millennial luxury consumer and what can be done in order to keep its authenticity as well as succeeding.

To The Right Figure 58 - Stussy Fall/Winter 2015 Campaign

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T

T

STUSSY INTERNATIONAL

T

Conclusion

STUSSY INTERNATIONAL

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APPENDIX 1. The Generic Value Chain Michael E.Porter p.35-37

How social media gives you comeptitive advantage Indian Journal of Science and Technology Vol 8 (S4), 90-95, February 2015

3. Poters Five Forces

According to Porter, “ a firm’s value chain and the way it performs individual activities are a reflection of its history, its strategy, its approach to implementing its strategy and the underlying economies of the activities themselves�. A brands Value Chain consits of all the activities that are requried for the producion of oranizations goods or services. These activities can be primary activities that add value directly to end product and support or secondary activites that add indirect value to end product.

1. Threats Of New Entrants - Competitors in the current market are already tech-savvy and are preforming at a high standard using AI and VR. Due to the growth of digital technolog the barries to entering has been lowered 2. Barganing power of buyers - Consumers have a greater bargaining power due to easy avaliability of information online as well as the accessibility. Have access to reviews and feedback on social medal channels.

On a whole, it sets a whole new level of what consumers expect in terms of digital expereince

An a analysis of organiation can be used to find out how an organisaion can gain competitive advnantage . The theory identifies all the acitivities - both rimary and support of the organisation and then identifies activities that can either be a cource of cost Leadership, Differentition or focus.

Social media - in order to use social media to gain competitive advantage, activities in an organizations value chain that can be impacted by the use of social media are identified. The imapct of using social media can then be measured. is can be analyzed for cost, focus as well as di erentiation advantage.

3. Threat Of Substitues- New substitute services that emerage can threaten the exlcusivity of an item. This can be replaced with digital technology or a digital alternate.

4. Barganing Power Of Supplies - can easily increase or decrease the rate of adoption of a digitally based model, depending on how that model will impact them.

2. Three Generic Strategies Lower Cost

Broad Target

Cost Leadership

Differentiation

Differentiation

Michael Porter identified four generic business strategies that could be adopted in rder to gain competitive advantage. The challenege facing marketers and business leaders as they try to determine the most effective strategies is how to get a comeptive advnatge oveer the other firms that are operating your market. Porter suggested two overall business stratgeis that could be followed in order to gain competivie advantage, he argued differentiationa nd low cost are effective strategies firms to gain comepteive advnatge.

4. The Disruptive Innovation Model

A disruptive technology or disruptive innovation is an innovation that helps create a new market and value network, and eventually goes on to disrupt an existing market and value network. The term is used in business and technology literature to describe innovations that improve a product or service in ways that the market does not expect. Although the term disruptive technology is widely used, disruptive innovation seems a more appropriate term in many contexts since few technologies are intrinsically disruptive; rather, it is the business model that the technology enables that creates the disruptive impact.

Low cost- with this strategy, the objective is to becoe the lowest-cost operator. Ths typically involves production on large scale whih enables the business to eploit economies of scale.

It is a powerful advantage because if selling prices are broadly similar, the lowest cst operator will enjoy the highest profits. Similarly, lowest-cost operator can also offer the lowest prices.

COMPETITIVE SCOPE

Narrow Target

Cost Focus

Differentiation Focus

Likely features of a low cost operator: - High levels of productivity and efficieny - High capacity utilisation - Use bargaining power to negotiate lowest prices from suppliers Differentiation - with a differentiation stratgy aims to offer a product that is distinctively different from competition, with the customer valuing that differentiation. some of the way to achieve differentiation is to have a product of superior quality, distincitve brand, how easy it is to but the poduct (wide distribution).

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The Encyclopedia of Human-Computer Interaction, 2nd Ed. BY CLAYTON M. CHRISTENSEN

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Morgan, N. (2015). We Humans Are Social Beings - And Why That Matters For Speakers and Leaders. [online] Forbes. Available at: https://www.forbes.com/sites/nickmorgan/2015/09/01/we-humansare-social-beings-and-why-that-matters-for-speakers-and-leaders/#34d9d1106abd [Accessed 8 Nov. 2018].

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IMAGES Figure 21, 22 - Primary Image, Photograph of Puiwan Quan: Anastasiou D (2018) . Winchester School Of Art Figure 1 - Primary Image, Photograph of Puiwan Quan: Anastasiou D (2018) . Winchester School Of Art Figure 24, 25 - Primary Image, Photograph of Puiwan Quan: Anastasiou D (2018) . Winchester School Of Art

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Figure 28 & 30 - Primary Image, Photograph of Puiwan Quan: Anastasiou D (2018) . Winchester School Of Art

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Figure 36 - LIFUL Minimal Garments (2017). LIFUL Fall/Winter 2017 Cookbook. [image] Available at: http://fuckingyoung.es/liful-fallwinter-2017-lookbook/ [Accessed 13 Jan. 2019].

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Figure 38, 39, & 40 - Highsnobiety (2017). MISBHV Channels Heroin Chic With “AFTER DARK” Lookbook. [image] Available at: https://www. highsnobiety.com/2015/10/06/misbhv-fall-winter-2015-lookbook/ [Accessed 17 Feb. 2018].

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Figure 54, 55, 56 & 57 - Wilson, S. (2016). Photos that bring mental health issues to life. [image] Available at: http://www.dazeddigital. com/photography/article/32717/1/steph-wilson-s-photos-bring-mental-health-issues-to-life [Accessed 16 Mar. 2018].

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Figure 58 - Complex (2015). StĂźssy Explores Tokyo for Its Epic Fall/Winter 2015 Campaign. [image] Available at: https://www.complex.com/style/2015/08/stussy-fall-winter-2015campaign-explore-tokyo-tyrone-lebon [Accessed 6 Jan. 2019].

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