FIT Capstone Presentations on Post-Pandemic Beauty and Employee Needs – WWD
The COVID-19 pandemic has fundamentally changed the expectations not only of beauty consumers, but also of the industry’s own workforce, and brands need to adapt accordingly. — and quickly — in order to thrive.
That was the main message of the flagship projects showcased by the Fashion Institute of Technology’s Masters in Cosmetics and Fragrance Marketing and Management graduates on Wednesday night at the school’s Haft Theatre.
After remarks from sponsor Liza Rapay, Head of Marketing at Cosmoprof North America/BolognaFiere USA, and an introduction from FIT’s Stephen Kanlian, the evening began.
The evening was themed ‘Beauty After Covid: Rebirth or Reform’, with the reform team looking at how beauty organizations need to reassess their corporate cultures in line with the changing priorities of post-pandemic professionals.
Among the overarching changes suggested by graduates are increasing remote work options and moving away from the five-day work week, a model that has been heavily challenged lately, employees across sectors expressing that a four-day working week would boost worker morale. , without hampering productivity.
With employee burnout, resignations and turnover rates accelerating after the onset of the COVID-19 pandemic, the presentation suggested that organizations’ adoption of a director of agility could prove essential in “transforming the way work gets done” by alleviating the barriers to experimentation that 53% of employees feel imposed by internal structural hierarchies, according to graduate research.
The presentation proposed that a transition to a gig economy, rather than binary employment relationships, offers mature employees the option to retire later, while allowing all workers the level of flexibility they began to demand.
“Now is the time to look beyond just consumers and investors, as we have always done, and instead look more introspectively — that is, rely on your organization’s culture, resources, leadership and your environment to ensure that you are able to maintain business continuity for the long term,” said Jamie O’Brien, graduate, during an interview with WWD.
The second presentation, led by the renaissance team, explored how brands need to adapt and grow their omnichannel approaches to increasingly complex consumer expectations, which have transcended mere product efficacy and extended more than ever to values. and brand identity.
According to the presentation, brands that sooner or later delve into the metaverse will be able to develop increasingly personal connections with their consumers, who may soon have a firm foothold in the virtual world, with or without them.
“The whole world is heading towards the metaverse,” graduate Nicole Martin told WWD. “Our research concludes that there is this split, or dichotomy, in the consumer mindset in which the consumer lives on two extremes, without revealing too much of their true personality.”
With COVID-19 fundamentally changing the way we socialize, consumers of all ages – but especially Generation Z – have turned to alternative platforms, such as social media, to interact with others.
The collective sense of loneliness enveloping people in recent years will only further the growth of the metaverse, the presentation continues, arguing that the immersive universe has the potential to provide a safe space for consumers seeking a sense of community.
Between the rise of NFTs, AR and the metaverse, brands that fail to take advantage of technological advances to contemporary strategies will likely be forced to deal with high client turnover, the revival team concluded.
In no particular order, the 2022 graduates of the Fashion Institute of Technology Cosmetics and Fragrance Marketing and Management are: Jamie O’Brien, Alexa Krynicki, Joshua Borzooyeh, Phyllis Orozco, Katherine Desloge, Lía De Sola, Marissa Squeri, Ségolène Dewey, Michelle Imperiale, Gabrielle Zwyer, Alex Alfaro Garcia, Christina Madsen, Corey Fenton, Randy Malm, Aldana Ferrer Garcia, Nicole Martino, Amanda Rand, Maria Llanos and Shir-el Teboul.
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