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  The present landscape of the business world is about being forward-looking. From the mode of business operations to customer-based structures, building a business with Gen Z in mind is more than important.
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Commonly distinguished as people born between the mid-1990s and the 2010s, Gen Z will prove increasingly powerful and significant for any brand that wishes to stay relevant throughout the 2020s and beyond. But what exactly is this generation looking for, and what can you do to meet their expectations? Understanding The Power of Gen Z Brands can’t afford to engage with Gen Z, for the understandable rationale that this generation embodies the future of commerce and consumer trends. According to a United Nations report conducted in 2019, the world population estimated that people under the age of 25 would make up 41% of the global population by 2020. As members of this age group reach adulthood and become consumers in their own right, brands that completely understand Gen Z customers and can build meaningful, lasting relationships with them will be the most successful. According to Gartner, this generation is “ready to spend”, with more than $143 billion in buying power. Gen Z is traditionally different from other generations, hence having their perceptions, peculiarities, tastes and views about anything and everything. This will require brands to specially prepare for them by understanding them.  In this article, I will show you how to go about understanding Gen Zers and how you can capture them with your brand.
  • Truth And Authenticity
According to a McKinsey study, the true Gen Z are people born between 1995 and 2010, because they are the first generation of true digital natives and because they are driven by a desire for truth and authenticity. Accord to McKinsey:  “For Generation Z… the main spur to consumption is the search for truth, in both a personal and a communal form. This generation feels comfortable not having only one way to be itself. Its search for authenticity generates greater freedom of expression and greater openness to understanding different kinds of people.”  How does this revelation help brands? This means that businesses must be very particular about how their brands and marketing strategies are perceived by these groups of people. Since various Gen Z consumers are open to the idea that people shouldn’t be defined in just one way, you might need to reconsider and review strategies like marketing products to certain genders. This generation is very conscious of colour, race, gender, nationality, ethnicity and other unique features. Hence, your brand must be perceived as that is inclusive.
  • Technology As A Medium For Value Expression 
Gen Z has been identified as true digital natives, because they have often been influenced by ideologies and thoughts paraded on social media and the internet. They are largely influenced by online information, because of their instant access to online information.
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Smartphones and social media have always been part and parcel of this group. Therefore brands will always rethink new ways to make customer experience mobile-friendly. This generation is the most tech-savvy generation ever seen. When it comes to delivering value, brands must create cutting-edge technology and digital commerce structures that are user friendly and seamless. Whether you are into manufacturing or financial services, technology will be the hallmark of your business operation.  According to IBM, facilitating a frictionless eCommerce experience, offering maximum value for money or connecting consumers to the products they want as quickly as possible, is central to technological value. When Gen Z consumers were inquired about what was most important to them when buying across different channels, the most common responses were:
  • Being able to find what they want quickly (49%)
  • Having the option to decide how and where to shop (44%)
  • Access to the best deals (41%)
  • Fast shopping and checkout (36%)
When it comes to social media, Gartner advises brands to pursue a policy that provides Gen Z users with an opportunity to “boost their online brand”. The study stated that members of this age group are more inclined to follow brands that post in a way that reflects positively on their fans and provides value to their audience.  According to Facebook, “While many Gen Zers are united by shared values, they are also the most diverse generation. To resonate with these next-gen consumers, champion this diversity in your words, imagery, partnerships and other brand actions.”  If you’re able to deliver a high-quality, value-based experience through technology that indicates the emphases and beliefs of Gen Z, it could be one of the most vital steps you take towards long-term success.
  • Empower
Bill Gates, Founder of Microsoft, stated in 1995 that companies that will succeed in the 21st century are those that empower people. What does it mean for brands to empower people? Gen Zers, are ready learners and lovers of authority. How can brands empower this group? It can only be through information and being a part of their success journey. Brands that will thrive in the 2020s and beyond are those that make tasks efficient and effective and replicable. Look at TikTok, Facebook and Instagram, most users have used them to boost their brands. What about Flutterwave? They have made international transactions super easy for members of this generation. Featured Image Source: The Occidental
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This article was first published on 2nd April 2022

nnaemeka-emmanuel

Nnaemeka is an academic scholar with a degree in History and International Studies from the University of Nigeria, Nsukka. He is also a creative writer, content creator, storyteller, and social analyst.

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