In case more proof was needed for the spending power of generation Z, discount fashion site Yoox has just launched a new platform dedicated entirely to those born after 1997.
Called Hi_Guyz!, the site went live on Tuesday and aims to go head-to-head with the likes of Ebay and Depop, to capture part of that all-important Gen Z market.
As part of the wider Yoox Net-A-Porter Group, the new platform will build on Yoox's existing retail model of offering discounted designer fashion, but Hi_Guyz! will be more tightly curated to appeal to a younger audience.
The site is fully accessible in the UAE, with prices marked in dirhams. It also ships to Saudi Arabia, Oman, Qatar, Israel, Lebanon and Egypt.
Like Yoox, it will offer overstocked and unsold designer pieces from past collections for discounted prices. What Yoox hopes will set Hi_GuyZ! apart, however, is how the stock is curated.
Instead of scrolling through thousands of options, the site instead draws on vast amounts of data gathered across the Yoox site to streamline the offering to the lines it feels will most appeal to Gen Z. There will be a stronger focus on gender-neutral lines, as well as emerging names and designers that support sustainable practices, all to better fit with Gen Z's demands.
However, Hi_GuyZ! steps into a crowded market. Resale sites such as Depop and Vinted are both well established, as are Asos and Unidays for those looking for fast fashion inspiration. Ebay has carved out a sizeable market share for itself, and search app Lyst is also extremely popular.
Speaking with The Business of Fashion, Paolo Mascio, president of the Yoox Net-a-Porter Group's fashion division explained the thinking behind the new launch.
“The idea was to create something that was welcoming, warmer and closer to their tone of voice and perspective. Our vision is to make sure they feel at home and inspired,” explained Mascio.
“We already have customers between 15 to 25 years of age and we already carry a lot of brands that appeal to this audience, but we want to represent a virtual place where young people can really meet and establish use.”
It's not hard to see why companies are vying to snag Gen Z customers. According to its latest consumer report, emerging markets company L Catterton classifies Gen Z as making up 17 per cent of the population in China, but is responsible for 25 per cent of total expenditure on new brands, while US management consultancy firm Mckinsey & Company puts Gen Z spending power in the US alone at $150 billion.
How to play the stock market recovery in 2021?
If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.
Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.
Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.
Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).
Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal.
Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.
By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.
As demand for energy fell, the oil and gas industry had a tough year, too.
Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.
He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.”
This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”
Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.
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Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.
A semen analysis of the father showed abnormal sperm so the couple required IVF.
Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.
A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.
On day three of the process, 14 embryos were biopsied for gender selection.
The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.
Day five of the treatment saw two male embryos transferred to the patient.
The woman recorded a positive pregnancy test two weeks later.
