Balenciaga's Marketing Strategy for Generating Interest among Generation Z Consumers

Abstract

Balenciaga has gained popularity among younger consumers in the luxury market and has established itself as a trendsetter to a certain extent. The purpose of this study is to explore the reasons why Balenciaga, a brand that is distinguished by its unique and divergent style in comparison to other luxury brands, exerts a strong appeal on the younger generation. This study was conducted to answer this question. This study conducted research and analysis based on literature review, in-depth interviews, and questionnaire surveys. Analysis of Generation Z's motivations and psychology regarding luxury goods consumption concluded that this demographic exhibits a stronger tendency towards emotional purchasing and the cultural values embodied by brands. They tend to make purchases only after forming an affinity with the cultural ethos expressed by the brand. Balenciaga exemplifies Generation Z's consumption principle that emotional value is more important than product functionality. Moreover, in order to circumvent the propagation of an excessively unfavourable impression to consumers, the utilisation of contentious marketing strategies should be diminished accordingly. Balenciaga needs to strike a balance between mass fashion and maintaining its brand identity.