Gen Z May Not Be Using Technology the Way Retailers and Brands Think They Are

Gen Z May Not Be Using Technology the Way Retailers and Brands Think They Are

That’s just one of the surprising insights revealed during our inaugural Retail Influencer CEO Forum Featuring The Z Suite this week

Gen Z is the most diverse American generation in history and is set to become the largest US consumer base in the next decade. The group already wields $360 billion in disposable income and will account for roughly a third of the workforce by 2030, so Zers’ values, preferences and shopping habits will continue to shape the retail, consumer and technology landscape for years to come.

To understand how this generation thinks and shops, we brought together more than 100 CEOs, “ZEOs” (Gen Z CEOs), senior retail and brand executives, members of the Retail Influencer Network, top-tier business journalists and members of The Z Suite—an exclusive network of Gen Z thought leaders—this week for the daylong Retail Influencer CEO Forum Featuring The Z Suite.

Joanna Coles served as Mistress of Ceremonies and the day’s fireside chats, panel discussions and “ask me anything” sessions covered topics ranging from Gen Z shopping trends to inclusivity, sustainability, the metaverse and more—all designed to help attendees learn more about what makes Gen Z tick.

For brands looking to understand and connect with Gen Z, some of the day’s top takeaways included:

·???????They’re not using dating apps to find people they might want to meet IRL:?None of our featured Z Suite panelists currently uses online dating apps to meet people. While they’ve all used the apps in the past, most said they got fed up with how users just scroll and swipe for entertainment value, with no intention of connecting IRL. Another surprise about the panelists’ use of technology is that none of them currently use buy now, pay later options when shopping.

·???????Brands are often too short-sighted about influencer marketing:?One-off activations and short-term partnerships come off as inauthentic to Gen Zers, so brands need to commit long-term to the people and causes they support. Gold medalist Aly Raisman noted that Aerie supported her completely when she began sharing her story of abuse, ensuring that her own well-being came first and cementing a years-long strong brand partnership that continues today. Influencer and content creator Ellie Zeiler noted that she decided to partner with a limited number of brands that shared her values, like Levi’s, rather than accept every partnership offer that came her way.

·???????Thrifting is to Gen Z what shopping at the mall was to earlier generations:?That is to say, it’s considered one of the coolest ways to shop today. Gen Zers value individuality, self-expression and sustainability and thrifting allows them to find one-of-a-kind pieces that they can mix and match to create unique looks more affordably and sustainably.

·???????Gen Zers prize openness, authenticity and inclusion and love to share their opinions and insights with brands:?Shai Eisenman, CEO of Bubble, says her beauty brand has become a Gen Z favorite because she cultivated a community of Gen Zers who have provided guidance and feedback on every aspect of the brand and its products, from testing to packaging to branding. To understand what Gen Z wants and values, all brands have to do is ask them.

·???????They’re getting much of their news from TikTok:?Millennials were the first digitally native generation, but Gen Zers are the first “social natives” who use social media not only to connect online with each other, but also to find news and information about brands and products. Some Gen Zers actually view TikTok as a search engine that’s as useful as Google.

·???????Content creators have democratized the consumer space:?Brands are no longer the only, or even the primary, voices educating consumers about their products. Gen Z has access to more information than any previous generation, including reviews and educational content from influencers who are highly informed about products, ingredients, materials and brands within the respective categories they cover.

·???????Move beyond the mental health taboos that defined previous generations:?Gen Zers prioritize mental wellness and tend to be candid about their struggles with anxiety and other mental health issues. Brands looking to engage authentically with this generation need to find ways to talk openly about self-care, says?Newsette?founder Daniella Pierson, who recently co-founded a new mental fitness ecosystem called Wondermind with Selena Gomez. Wondermind will offer daily educational content along with products and physical tools that promote mental fitness and will give brands an opportunity to showcase their commitment to mental health.

·???????Brands should experiment in the metaverse in ways that align with their aesthetics and values:?Some?60% of Gen Zers think that brands?should?sell their products on metaverse platforms, according to a recent study from Obsess, and brands have a historic opportunity to experiment with digital and “phygital” offerings on these emerging platforms.?Forever 21 CEO Winnie Park noted that more than a million virtual Forever beanies have been sold on Roblox and that the company is now looking to tap the Roblox community to?inform its IRL product designs.

We thank all of our featured speakers, panelists, moderators and attendees who joined us for the first-ever?Retail Influencer CEO Forum Featuring The Z Suite this week!