People
They are now the second youngest group in the world. In the present era, Gen Z has become a pivotal cohort driving the advancement of the fashion industry. They are characterized by their creativity and critical thinking, enabling them to form unique judgments about various matters. Born in an age of rapid internet development, they are also referred to as “digital natives“ (2023,MCKINSEY). Gen Zers are known for working, shopping, dating, and making friends online. As consumers, individual rom Generation Z exhibit consumer behaviors that are largely shaped by their pragmatic perspective on financial matters and educational pursuits. Principal determinants of their consumption patterns include a pronounced inclination towards technological advancements, a deep-rooted commitment to societal issues, and a marked sense of individualism (2023,BEWICKE). Gen zers exhibit distinct consumption patterns, largely influenced by their pragmatic perspective on financial matters and educational pursuits. Notably, their proclivity for technological advancements, commitment to societal issues, and pronounced individualism are pivotal in shaping their consumer behaviors. In contrast to earlier generations, Gen zers does not prioritize cost as the primary decision-making factor. For a product or brand to resonate with this demographic, it must present a harmonious blend of value, superior quality, and ethical integrity.
Individuals from Generation Z exhibit distinct consumer behaviors, largely influenced by their pragmatic perspectives on financial and educational matters. Additionally, their profound relationship with technology, commitment to societal causes, and marked individualism play significant roles. Each generational cohort forges an identity distinct from its predecessors. Notably, Generation Z stands out as the inaugural generation of genuine digital natives. Their formative experiences are intertwined with digital phenomena, such as online gaming and trending internet content. It is probable that during their educational years, they relied on digital devices like personal computers or tablets for note-taking(2023,GOMEZ).
In 2023, Twitch has emerged as a predominant brand favored by Generation Z. Originally launched in 2005, Twitch was conceived as a real-time broadcasting platform where individuals could showcase their daily activities. While the platform has diversified its content categories, video gaming remains its central focus. Boasting over 240 million active users monthly, Twitch commands an impressive 73% of the live streaming market share. Notably, internal data from Twitch reveals that a significant 55% of its audience comprises members of Generation Z. Further, there is a discernible positive sentiment within the Twitch community towards channel monetization and advertisement displays, presenting a lucrative avenue for potential advertisers(2023,KHALID).
Bibliography
What is gen Z? (2023) McKinsey & Company. Available at: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z# (Accessed: 15 October 2023).
Bewicke, H. (no date) Gen Z consumer behavior: What you need to know, Gen Z Consumer Behavior: What You Need to Know | Talon.One. Available at: https://www.talon.one/blog/gen-z-consumer-behavior-what-you-need-to-know# (Accessed: 15 October 2023).
Gomez, R. (2023) How to make sure you’re marketing to gen Z the right way, Sprout Social. Available at: https://sproutsocial.com/insights/marketing-to-gen-z/ (Accessed: 15 October 2023).
Khalid, S. (no date) Gen Z’s 25 favorite brands in 2023, Yahoo! Finance. Available at: https://finance.yahoo.com/news/gen-z-25-favorite-brands-092948829.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAHf7g7OrCknZ4PHkWCvWUsNp2jXBvXb4Ntqeoj8wTzmLpUtG0_jaHuNb6e1mAcB6m2AEhDCtBFc6_8CsVKIcEqjO1NkXyCiFbW19kJFICy6VkVk8q8ZIy4_Q2NZ_ZvaP5xvtGwRjvhillTuCvomc-Tc5LGB15zkvfDcD7p1jxxmv (Accessed: 16 October 2023).