Understanding Gen Z: Values, Purchasing Behaviour and the Power of Influencer Marketing

Generation z, or gen z, id the demographic cohort born between the mid to late 1990s and the early 2010s and they are quickly becoming one of the most influential group in the marketplace. In this article, New Stance will explore gen z values, purchasing behaviours and why influencer marketing should be strongly considered by brands.

Who are gen z's?

Gen z is the largest generation in history, making up 27% of the global population, with an estimated 2.56 billion people. Gen z is the first truly digital-native generation, having grown up with smartphones, social media, and instant access to the internet. This means that they are more connected and informed than any generation before them.

As the first generation to grow up entirely in the digital age, gen z is highly tech-savvy, with 95% owning a smartphone and spending an average of nine hours per day on their device. In terms of media consumption, gen z are highly diverse, with many opting for social media platforms like TikTok, Instagram, and Snapchat. They also consume more video content than any other generation, with 85% watching videos on YouTube and 80% using it as a source for learning. In terms of advertising, gen z is highly sceptical, with only 16% of them trusting traditional advertising methods. Instead, they prefer authentic, user-generated content and influencer content that aligns with their values and interests.

What they stand for?

Gen z is often described as socially and environmentally conscious. They are passionate about issues like climate change, racial justice, and LGBTQ+ rights. According to a report by McKinsey & Company, 70% of gen z believes that companies should take a stand on social issues, and 60% say they are willing to pay more for products that are environmentally sustainable.

Gen z is also known for being entrepreneurial and independent. According to a survey by The Harris Poll, 61% of gen z wants to start their own business someday, and 65% believe that entrepreneurship is more accessible now than it was in the past.

Purchasing behaviours:

Gen Z are a highly discerning audience when it comes to brands and their purchasing behaviours. They value authenticity, transparency, and social responsibility in the companies they support. According to a report by Kantar, 60% of gen z values brands that are honest and genuine, and 80% believe that brands should take a stand on social issues.

Gen z are also less loyal to brands than previous generations. According to a report by McKinsey & Company, 81% of gen z switches brands if they find a better alternative or if the brand does not meet their expectations. This means that brands need to continuously innovate and improve to stay relevant to gen z.

Why brands should consider influencer marketing to reach gen z's?

With a lack of trust in traditional media channels, influencer marketing is a channel brands should strongly consider appealing to gen z’s. 97% of all generation z individuals learn about new products from social media so why not look at their most trusted source, influencers. 56% of gen z’s follow online celebrities, creators and influencers which is more than any other accounts they follow. Influencers are seen by them as more authentic and relatable than traditional advertising.

The lack of trust has made it more difficult for brands to reach gen z through traditional advertising methods. Influencers, on the other hand, are seen as a more trustworthy source of information by this demographic. According to a survey by Kantar, 70% of gen z respondents reported trusting influencers more than celebrities, and 86% of respondents reported trusting influencers more than traditional advertisements. By partnering with influencers, brands can reach gen z through a channel that they trust and find more authentic.