This future consumer is likely the largest global cohort, at over 2 billion people, with an estimated $360 billion in spending power, and more in influencing power (if you are a parent of one, you know what I mean!)
Edelman's Nov’21 survey highlights importance of TRUST for GenZ and that "What we think we know about Gen Z’s world doesn’t reflect reality".
They break down earning GenZ’s trust into 3 areas:
1 "MAKE ME FEEL SAFE
◊ 7 in 10 want safety security in every aspect of their lives from the physical to the emotional, financial, social, and educational
◊ 7 in 10 will fact check what you say. Their top trusted media source is YouTube (TikTok is 5th)
Marketing to them:
§ Consider basic needs vs. aspirational experiences
§ Deliver on safety through every aspect of their lives
§ Transparency needs to be discoverable — Gen Z looks for truth
2 “TAKE CARE OF PEOPLE
◊ People they trust the most are those that take care of others
◊ 8 in 10 said a brand’s treatment of employees was a critical or important purchase decision factor
Marketing to them:
§ Focus on real people & creators vs. inaccessible personalities
§ Substance is the new sizzle
§ Take care of your people – Gen Z is watching
3 “UNITE FOR CHANGE
◊ Gen Z is not radical; 70% are involved in a social or political cause, with unity as the new activism.
◊ 63% say they will only buy brands which stand with them on issues (vs 48% of general population)
Marketing to them:
§ Trust is about “we” vs. “me”
§ Emphasize global values vs. hyperlocal actions
§ Harness Gen Z’s definition of activism by bringing them together”
Brands need to reflect the sentiments of Gen Z consumers in their marketing. They are not the typical marketing profile, so marketing to them needs to be as unique as they are.
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