Gender fluidity is a phenomenon worth 360 billion dollars

The fashion of the future will be genderless. According to the analysis of The state of fashion 2023, an annual survey conducted by McKinsey & Company, Gen Z will drive this trend.

«Estimates tell us that about half of Gen Z globally have purchased fashion products that do not match their gender identity. A growing trend, considering that Gen Z will soon become the largest consumer base globally. In fact, people born between 1995 and 2010 will account for one-third of consumers worldwide by 2030. Their purchasing power is undoubtedly bound to grow as they get older and their social standing increases», Gemma D’Auria, senior partner at McKinsey & Company, explained to MFF, highlighting how gender fluid fashion follows the evolution of socio-cultural attitudes among younger people, towards different gender identities.

«Gen Z is willing to spend on luxury but unlike past generations, they are not interested in luxury as a brand to show off. Instead, they are looking for unique and authentic products, and if they find these characteristics in a brand, they are willing to pay. This trend presents a difficult challenge for brands, especially considering cultural differences between markets. Companies in the fashion industry will be called upon to progressively integrate gender-fluid products and strategies into all their operations. These changes will become increasingly necessary as Gen Z’s purchasing power increases».

This power has already reached 360 billion dollars in the US, according to the report. Indeed, in recent years many people have developed a greater acceptance and understanding of sexual orientations and gender identities. A change that seems to be at a turning point, laying new groundwork for practitioners.

Not only is this visible on the runway, but also in shopping, where online searches for genderless and gender-neutral fashion are increasing year by year, as explained by the analysis. The most receptive countries include North America, Europe, Japan, and South Korea.

Regarding the sales methods, co-labs will be useful for testing genderfluid products, especially for larger and more established brands, but they will also allow companies to understand how these are received by customers both in stores and online. After that, companies will be able to integrate gender-neutral products and strategies into their operations, from the design stages, advertisements, to store design. «Gender fluidity has been embraced for decades by designers such as Yves Saint Laurent, Vivienne Westwood, and Jean Paul Gaultier, but today this phenomenon is gaining momentum. Many luxury brands such as Gucci, Vetements, and Marc Jacobs, and players such as Asos and H&M, have already integrated this approach on some levels, promoting gender fluidity in their communication campaigns or creating genderless collections. The Covid-19 pandemic has played its role in sales, with many people spending more time at home and prioritizing comfort and versatility. Sweatshirts, tracksuits, and sneakers have become wardrobe staples and the boundaries between menswear and womenswear increasingly blurred», Valeria Tentorio, Marketing Manager at Klarna, explained to MFF.

«In Italy, 77% of Gen Z want to buy more gender-neutral fashion in the future». According to Klarna’s latest data collected from May to September 2022, 42% of Italian Gen Zs have already bought a garment outside their gender identity, a lower percentage than the one registered in Anglo-Saxon countries such as the UK (58%), Australia (56%), and the US (52%). Northern European countries also seem to be a step ahead when it comes to embracing this trend. It should be noted that the data from Italy are very similar to other areas of Europe, such as Germany (45%), France (42%), Spain (41%), and Portugal (40%), where interest remains on the rise.

«The rise of digital channels and social media has also played a crucial role. Social media platforms, such as Instagram, TikTok, and YouTube, provide a space for individuals to showcase their unique styles and challenge traditional gender views, thus influencing broader cultural trends. Younger, more socially and environmentally conscious generations are active on these platforms and offer more visibility to the challenges of inclusivity», she concluded. (All rights reserved)