brands . This can be achieved by learning and understanding their unique attributes and values , and how they are influencing the consumer market .
According to a 2018 study by McKinsey , Gen Z have influence on both culture and spending habits across all generation . Described as the first true digital natives , they spend a lot of time online seeking information and shopping .
The study also reveals that Gen Z rally together for a variety of causes , are optimistic about the power to change the world and have a pragmatic approach to life . This makes them a generation that is more inclusive , socially conscientious , and diverse than the previous generations .
They are also tech-savvy- something which gives them increased access to information hence a lot of influence on the people they interact with virtually or in real life . Their influence also cuts across all socioeconomic brackets and impacts other generations .
These characteristics exhibited by this demographic of young people have defined their view of the planet , consumption , and relationship with brands . To them , consumption is access rather than possession and that which signifies personal identity . They also view consumption as a matter of ethical concern .
A similar study in 2019 by First Insight surveyed consumers in the U . S . on how sustainable practices are impacting shopping habits and purchase decisions , and pointed to the growing expectation for sustainable models , with Generation Z making more shopping decisions based on sustainable retail practices than even Millennials and Generation X .
The report shows 73 % of Gen Z consumers are willing to pay 10 % more for sustainable products , value personalized products and are often drawn to brands that share their point of view on political issues . This generation are more conscious about labels and will go for those of brands that speak to their values .
Given the huge influence they have across other generations , incorporating Gen Z values into a brand identity and values can enhance your brand ’ s emotional connection with the customers and further the reach in a consumer-driven market . In fact , other studies have shown that tactics that were initially employed on the young generation have succeeded with the older generation during the Covid-19 pandemic that saw
an increase in online shopping and other digital activities .
So , what are the overriding values that brands need to pay attention to while targeting the younger generation and by extension the whole consumer market in today ’ s competitive world ?
First is diversity and inclusion . Consumers want to relate with businesses that go beyond mere policy statements and programs on diversity and inclusion . They are looking for companies whose workplace environments not only comprise of different genders , races , nationalities , and sexual orientations and identities but also where every group ’ s perspective is listened to and valued . A brand ’ s products and services must also reflect diversity and inclusion so that various groups of consumers feel catered for in their offerings .
The second is sustainability . Access to information online and virtual interaction with people across different geographical and cultural boundaries have exposed and impassioned the younger generation to environmental issues affecting the planet . They are therefore identifying with brands that are continuously working to bring positive change in the world through sustainable consumption as opposed to wasteful consumption . They want to consume more and waste less .
Authenticity also comes into play while targeting this group . Data reported by CNBC shows that authenticity is an important value for Gen Z . According to the study 67 percent of those surveyed agree that being true to one ’ s values and beliefs makes a person cool . They can read through and scrutinize social media posts , policy statements and actions by brands to determine their consistency and authenticity . They are more likely to embrace brands that go beyond expression and empowerment to take stance on issues that concern them like the climate crisis .
Once businesses have recognized the values and beliefs of their consumers , they are able to market their products , services , and brand according to their target market ’ s values . This is not only true when reaching out to younger consumers but the entire market .
Finally , after incorporating these values , it is important that you design and package your content in the manner and style they prefer . Gen Z have an insatiable demand for fresh content and spontaneity of the social media . By increasing your brand ’ s presence on the digital channels they frequent , you can reach them faster .
Enock Wandera currently serves as the Chief Client Officer at Ipsos Limited . You can commune with him on this and related matters on mail via : Enock . Wandera @ ipsos . com .