Generation Z: The Next Wave of Consumers

The future driver of the global consumer markets

Generation Z is the youngest generation cohort, but they represents the largest consumer base through to 2030. As Gen Zers will become increasingly influential, businesses need to be prepared for this next generation of consumers and make them part of their business strategy.

Gen Zers’ buying power is beyond their incomes

Gen Zers’ income today is lower than other generations, but their purchasing power should not be underestimated. Tweens, teens and Young Adults are often a spending priority for families, while they also have significant influence on family purchase decisions.

Digitally native

While Millennials grew up with computers in their homes, Gen Z is the first generation born into a digital world. With their digital prowess, Gen Z expects brands to act digitally native too, creating a seamless and unified experience across in-store, digital and mobile.

Realistic consumers who value quality, authenticity and innovation

Born in a time of economic recession and financial turmoil, Gen Zers are pragmatic and cautious consumers. They prefer products that offer them values and reflect real life. Gen Zers are interested in innovation and entrepreneurship, and look for products to empower them and help them to express their individuality.

High senses of social equality and responsibility

Generation Z is a diverse, adaptive, open-minded and socially responsible generation who wants to make the world a better place. To gain respect and loyalty from Gen Zers, brands need to show their commitments and create a business model that is built on sustainability, equality and acceptance.