Gen Z – those born in 1997 or later – are young, but they know what they want.
Unlike their Gen X parents – children from the mid-1960s to around 1980 – who valued status, famous brands, and luxury items, Gen Z made doing business with corporations a priority. who are committed to social justice, the environment, mental health and other causes. They also want to spend their money on “unique, ethical and unlimited” goods and services.
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That’s what a report from McKinsey & Co., which details the spending habits of Generation Z, says. And it’s clear that businesses that want to make a living need to adapt to this new generation.
“The opportunities that are emerging for businesses today are as transformative as they are exciting,†the McKinsey report said. “Businesses need to rethink how they deliver value to the consumer, rebalance scale and mass production versus personalization and, more than ever, practice what they preach when tackling issues. marketing and work ethic. “
So, what companies are Gen Z putting their faith – and their money – in? Keep reading to find out.
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Nike
The Oregon-based company scores high with Gen Z because of its casual clothes and trendy shoes. But it’s not just sweatshirts and sneakers that are pushing Gen Z towards Nike products. Instead, his advertising campaigns for social change resonate with adolescents and young adults.
Business Insider reported that Nike’s success with demographics is in part linked to large-scale marketing campaigns. One included an advertisement featuring Colin Kaepernick, the former NFL quarterback who has taken a stand on issues of racial and social justice. Nike ranked # 1 in the footwear category in the Taking Stock with Teens Fall 2020 report produced by financial services firm Piper Sandler.
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Ben & jerry’s
Ben & Jerry’s was launched at a renovated gas station in 1978 in Burlington, Vermont, and by 1985 had established a foundation to fund community-driven projects. Since then, the brand has become as well known for its call for inclusion, social justice and environmental protection as it has for its flavors Cherry Garcia and Chocolate Chip Cookie Dough – causes that resonate with Gen Z. The company recently introduced Change is Brewing. , a flavor that, he says, celebrates “safety and liberation” by transforming the approach to public safety.
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Starbucks
Starbucks conquered millennials in the 2010s with its diligence on social media and a strong rewards program. She also succeeded in offering her clients, who increasingly communicated digitally, a face-to-face meeting place. It continued its momentum in the 2020s with a strong commitment to the environment. Starbucks is a founding member of the Transform to Net Zero Coalition, which commits to a net zero carbon economy by 2050, delivers a sustainability training program for employees, expands its plant-based offerings, and invests in renewable energies. Starbucks was number 2 in the Piper Sandler survey in the restaurant category.
Vans
Gen Z apparently has room to like a second shoe company – Vans, which was far behind Nike in the Piper Sandler report. Vans, a shoe popularized by skateboarders in the 1970s, has remained relevant thanks to its “minimalist, genderless design,” said nss magazine, a European publication that tracks the intersection of street culture and lifestyle. fashion. It doesn’t hurt that some of the Gen Z favorites – from model Bella Hadid to rapper Travis Scott to basketball star Russell Westbrook – often wear Vans and the price makes them more affordable than Nike on many styles.
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Ulta Beauty
In the beauty products division of the Piper Sandler survey, Ulta was preferred by 42% of those surveyed. Maybe that’s because it offers many Gen Z favorites – products that emphasize cruelty-free manufacturing or that emphasize a natural look rather than makeup, for example. Gen Z consumers also want their cosmetic brands to take a stand on issues such as policing reform and sustainability, The New York Times reported.
CeraVe
Skincare line CeraVe has taken the social media route to become the darling of the Gen Z ensemble. He leads the Piper Sandler study in his division, with 28% of respondents in favor of CeraVe . He did this by reaching Gen Z directly, building a customer base through TikTok influencers, according to a June 30, 2021 report from internet marketing firm Tribe Dynamics. As of the report date, posts tagged with #cerave had received 825.1 million views.
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