Gen Z, as a term, typically evokes a stereotypical image of a young person overly engaged with his phone. However, this may not be always true.
As the most recently recognised adult generation, Generation Z is frequently mistaken for millennials due to their shared upbringing surrounded by digital technology. Despite these similarities, Gen Z, often referred to individually as Zoomers, possesses distinct characteristics that set them apart from the millennial generation. It is crucial for businesses to recognise these differences to effectively establish connections with this generation. To cultivate a meaningful relationship with Gen Z customers, businesses must first comprehend the driving factors that motivate this unique generation.
The consumer characteristics of Gen Z reflect their pragmatic approach to finance and education, with notable influences including their strong affinity for technology, commitment to social causes, and a distinct individualistic streak. Despite gaining a better understanding of Gen Z in the past five years, there remains some confusion regarding their preferences and behaviors, posing a challenge for businesses seeking to appeal to them.
At the 18th edition of the BW Marketing Whitebook Summit 2023, Gaurav Sinha, Head Marketing and PR, Audi India; Kunal Sharma, AVP- Marketing and Modern Trade E-commerce, KRBL and Rajeev Jain, Senior Vice President - Corporate Marketing, DS Group deliberated tried to gauge this shifting mindset of the consumer.
To this, Jain said, “India boasts the largest population of Generation Z, and this demographic predominantly dedicates a significant portion of their time to digital screens. The digital realm serves as an integral extension of their identity, influencing their approach to various activities such as shopping, content consumption, and learning. Gen Z in India values the digital landscape as a two-way communication channel, showcasing their pragmatic nature compared to other generations.
As consumers, this generation exhibits distinct behaviors, prioritising genuineness and authenticity over relying on prominent brand labels. Notably, Gen Z's positive attributes include heightened sensitivity to environmental concerns, climate change, evolving perspectives on gender, and other pivotal issues that demand attention in today's society.”
Sinha also added, “If we talk about marketers, then definitely a paradigm shift can be observed. As marketers, we have to evolve according to the changing times, we need to formulate strategies that cater to the needs of this dynamic generation. Today brands need to redesign themselves as per the changing needs of the customer, digitally present customers provide us the opportunity to bridge the gap of being physically present. It's a symbiotic relation today between a customer and a brand. So, our online customer not only gives us the opportunity to track them but also to interact with them and finally convert them”.
Sharma also emphasised, “Today, India is quite impatient and so is this Gen Z and by impatient, I don't mean in a negative connotation but in a quite fairly positive sense. Their needs and lifestyle are different and as a brand, firstly it's our duty to respect that. For example, according to data, majority of young people around 70 per cent, consume shorter format videos. So, as a brand, we also have limited time to pass on whatever message we need to convey. Apart from being impatient, they are fairly inquisitive as well. This generation doesn't only rely on reviews or other influences but has made our task challenging as they have started looking inwards. This means they have started discussing over a product in their close vicinity, for them, a friend telling something holds more value than influencers trying to sell something. Also how the brand is socially relevant, meaningful and can give back to society- this is a very positive and responsible side of this generation."