Embracing Generation Z for Business Growth

Gen Z is the largest, most diverse, and most geographically untethered cohort in history.?Gen Z now makes up 40% of all global consumers and holds earnings of about $7 trillion. ??

Gen Z is on its way to claiming the greatest purchasing power and connectivity the world has ever known. They impact culture at a speed and scale through both individual and collective digital action. In many ways, they aren’t just the next consumer group, they’re a new kind of relationship. Their connectivity and ability to build allows for greater immediacy and intimacy. And, by 2031, their income will reach $33 trillion. ??

A research by Oglive Consulting reveals that, more than any previous generation, Gen Z wants to be involved in the ideation and curation of culture-led participatory moments with the brands and people they care about. In order to build a lasting bond with Gen Z, you will need to become a brand that shares: one which not only allows for, but has in place, a digital and physical infrastructure which encourages youth to co-create and help shape the direction of the business at all levels. ??

This requires proactively galvanizing Gen Z to collaborate on shaping your brand and the impact it creates in the world—from brand purpose to community management and user support, and everything in between.???

So the question is:

How can brands connect with Gen Z?

What does it mean to share or co-create?

Sharing and co-creation have long been associated with a narrow definition of sourcing product ideas (e.g., “Vote on the next flavor!”), feedback from existing customers, or launching creative campaigns with celebrities or popular influencers. However, becoming a brand that shares requires a much wider scope of the word and a much more integrated investment. Through this new definition, firms can create novel relationships, customer experiences, and wholly new product categories, as well as avoid costly market missteps. ??

The bottom line is that brands that frequently share often:

• Can establish affinity and build relationships with the youth more rapidly. ??
• Are better prepared for change and successfully drive culture. ??
• Gain a talent advantage. ??
• Insulate themselves from massive company or product mishaps. ??

After reading this, if you've considered taking a proactive approach to reconsider your brand strategy for sharing and co-creation, then you should certainly reach us in Eyedias

eyedias is your gateway to connect with Gen Z. Tap into a diverse pool of talented minds ready to provide you with concepts and creative solutions for your business.

Reach us on [email protected] to unlock your business potentials.