Behind the Buy: Decoding 2024 Fashion Consumer Behavior

Our experts at MMGNET (PROJECT's parent brand), Teodora Nicolae, VP of Marketing and Courtney Hazirjian, Content Director, sat down to give an exciting first-look at MMGNET's 2024 US Fashion Consumer Outlook report. Read some of the key takeaways from the discussion below and click here to access the full report. 

"Consumers want great fit, better sizing, and more personalized products."

— Teodora Nicolae, VP of Marketing at MMGNET

76% of US consumers plan to spend as much or more on fashion in 2024 compared to 2023

As share by Nicolae, "Even with a looming recession, that's a really positive number."  

How has fashion evolved? Nicolae explains, “The multifunctional needs of the products that we purchase, especially in fashion, and that demand for versatile wardrobe options whether you're working from home and then going to the office or catching yoga before you start your day, whatever that might look like... for the consumer today it's lifting sales across categories which is really great news.”  

Hazirjian notes the growth of the “luxe lounge” look and encourages brands to explore the use of comfort-forward textiles to “strive for innovations within fabric to be able to meet the needs of the consumers"

"Size and fit" surpasses "price point" when it comes to consumer purchasing considerations in 2024

US returns total $781 Billion, with “incorrect fit” as one of the top reasons for returns. Taking this staggering data point even further, incorrect fit puts brands and/or retailers at risk of a negative reputation.  Nicolae and Hazirjian exampled this during their presentation by sharing Reddit threads and TikTok examples where consumers show what they’ve ordered online versus how it looks in-person, pointing to the viral trend of "expectation versus reality" posts and how consumers are vocal when it comes to products falling short of meeting a customer's expectations 

“When size and fit are off, it also degrades a product's perceived quality.”

— Courtney Hazirjian, Content Director at MMGNET

Consumers rank FASHION among the top 5 categories they plan to spend on in 2024, alongside travel, beauty and electronics

Nicolae and Hazirjian contextualized this data point by recommending that brands consider investing in industry adjacent cross-collaborations in order to reach new customers and expand brand awareness.  As example, Nicolae pointed to FRAME's collaboration with The Ritz Carlton Paris and The Carlyle Hotel in New York, saying, "knowing that their target consumer was also interested in travel, [FRAME] created smaller batch drops of customized products, allowing them to reach new audiences, which serviced their interests in fashion AND travel."

"Customized size and fit" and "personalized design features" are top tech enhancements that will influence consumer spend

Nicolae elaborates, “personalization is still something that consumers want. Millennials and Gen Z, as discovered through our 2024 survey, are especially interested in buying products that are personalized and to their taste. Consumers have also said that they're ready to pay a 20% premium for personalized products and 42% [of people surveryed] have at least one personalized product they’ve purchased for themselves already.” 

For more 2024 consumer insights, download the full 2024 US Fashion Consumer Outlook Report, presented by MMGNET

Beyond Product Placement: The Importance of Relationship and Community Building When Scaling Your Brand

We brought together a dream team of experts to guide you in boosting your brand’s visibility. Explore how you can connect with consumers through social media, develop collaborations with influencers that truly feel authentic, choose the right team, and discover the secrets to placing your brand among a global audience.

Just Keep Posting

When it comes to social media, many brands struggle with posting anxiety, but Andrea Oppan, Social Editor at Complex magazine, shares her solution to finding your audience: stay consistent, be authentic, and just keep posting. “This may sound cliche, but just be who you are,” Oppan says. “The people that like you, will find you; this is a huge world, there are millions of people... so if you just stay true to who you are and show up, the people who are looking for you will find you, and it’s not going to be hard. You’re just going to have to stay consistent—you’re going to have to keep going. So don’t be discouraged and don’t overthink it.”

Adapt Your Brand to the Artist, Instead of the Other Way Around

Maritza Whittaker, Creative Director and Product Placement Specialist at Champion, describes her process: “The beginning stages always start with personal connectivity to the artist. I’m not so worried about what Champion is, I'm trying to feel out the voice and interests of the artist.” When working with recording artist SZA, who grew up wearing Champion, Whittaker learned that she is passionate about sustainability and let that inform the direction the collaboration would take, "When she found out that our eco-fleece is made out of recycled plastic, she got really excited and just wanted to tell our story, and already loves the brand so it was very natural.”

Finding the Right Team

“When looking for a publicist, you need to make sure that the publicist is passionate about your brand. I don't take on any brands that I’m not passionate about,” shares Roseay Metayer, Publicist + CEO at The Now PR. Metayer explains her process: “I do a lot of research before I take on a client, and then once I do that research, I create a rollout for them, and I create a plan of what my vision is for the brand. If the brand is on the same page as me, that means we’re both aligned, we’re both trying to set the same goals...so make sure when you’re sourcing out your publicist, brand managers, marketing directors, business managers, whoever it is, that they are super passionate about your brand...even if they don’t know too much, watch them to see if they’re going to do some research, some understanding when you’re hiring them.” 

Be Relentless

When this panel’s moderator, Edwina Kulego, Vice President of International + Men’s at MMGNET GROUP, asked multi-disciplinary artist David Weeks how he gets the word out about what he does, he shared: “It’s just about being relentless. Do you know how many times I’ve heard people say ‘no’? But that’s when you rise up and say, ‘How am I going to break down this door?’ There were events I didn’t think I was qualified for but still, I’ve done 3 Art Basels in Hong Kong, 3 in Miami, all just because I believed. You can tell me ‘no,’ but I’m going to get up and do it anyway.” 

Responsible Fashion: why it's essential and how to make it work for your business

Industry experts sit down to discuss what Responsible Fashion means today.

Strive for Authenticity Rather than Perfection

Multidisciplinary visual artist David Weeks warns, “Be organic, don't greenwash.” The artist recalls a scenario we see time and time again where a major fashion brand’s claims of being “100% sustainable” were quickly debunked resulting in public backlash. According to Weeks, fashion brands should be “trying to stop single use plastic waste and plastic waste altogether.” The key word here is “trying,” which is ultimately more honorable than greenwashing. 

Responsible Fashion Goes Beyond “Going Green.”

While environmental sustainability is key, a responsible design process extends into social sustainability as well. Robert Smith, CEO and Founder of The Phluid Project, explains his brand’s “RISE” design process:

• R is for being Responsible: “knowing how it's made and where it's made.” 

• I is for Inclusion: “We try to be as inclusive as possible; That means in both price points and sizes—we go up to 5XL.”  

• S is for Solutions: "Trying to find solutions for people that have been largely ignored. And when you find a solution for someone, they’re loyal to you for the rest of their lives.” 

• E is for Expressive: “Design clothing that is empowering.” 

   

Educate Your Consumers, and Let Your Consumers Educate You.

Dana Zumbo, Business Development Manager at Zappos, urges brands to bring in a diverse group of consumers before the design process even begins: “[Brands should be] bringing people with disabilities into the conversation from the very beginning. I often say, how do you create something for someone unless you know what they need?” She highlights footwear as a key area in need of innovation when it comes to designing for people with disabilities.  

Robert Smith, Founder and CEO of The Phluid Project, added that his business also has an Ambassador Program made up of members of the community who keep him in the loop in addition to focus groups. 

Designing for Inclusivity Doesn’t Mean Designing Different Products for Specific Groups, It Means Designing One Product for ALL:

Dana Zumbo, Business Development Manager at Zappos, provides her first-hand insight: "People with disabilities want to wear the same thing as everyone else, so when we are working with our brands, one of the first things that we do is ask, ‘what are your best-selling shoes?’ And then you look at, well, are they really accessible? And so, basically, how we work with our brands is we facilitate focus groups; We have a conversation with the brand who is interested in learning more, we bring together the designers, the sales team.”

“70% of Gen Z-ers are shopping across gender lines.”

— Robert Smith, CEO and Founder of The Phluid Project