Old heads on young shoulders, the Gen Z will deal with this crisis better.

Liberal yet pragmatic, ambitious yet rooted in family ties, gregarious yet acutely individualistic, multitaskers with a strong grip in steering their lives – the Generation Z has surprised us in every way. 

With the pan India lockdown the XII board as well as other competitive exams were indefinitely postponed which has a significant impact on university admissions. An uncertainty of this extent is likely to drive young people into pangs of despondency. But these youngsters seem to be holding up rather well - investing their time in pursuing their hobbies, learning new skills, actively supporting in home chores and even collaborating with NGOs to help those in need. They have their chin up.

Pre- COVID-19 a comprehensive study amongst this cohort and it seemed that we are looking at a generation that is rather 'sorted' in a pleasant way.

Conducted jointly by Isobar and Ipsos, the survey interviewed 13-24 year olds from SEC A & B households, both males and females, across the 8-cities of Delhi, Lucknow, Bengaluru, Vijayawada, Kolkata, Bhubaneswar, Mumbai and Indore. The interviews were extensive and intensive and included, 1820 face-to-face interviews, 1440 online self-administered interviews, 34 consumer immersions, 20 online shadowing and 4 expert interviews.

They want a well-paid job and will work hard, but they are mindful of not letting ambition burn them out. Their goals are healthy balance of ambition and self-preservation; personal wellbeing finds place at one of their top 3 priorities along with success and wealth.

They consciously wanted to avoid is the constant hustle of a high strung professional life and not being able to find work-life balance. 27% consider being able to spend quality time with their family as one of the top 3 life goals.  

Faced with student debt and an unstable gig economy, young people were finding new ways to create income and define their own success. Growing up in the shadow of the Great Recession, younger generations learned to take a different approach to work and money in an uncertain climate. They were consciously looking at alternative career options as evident in the fact that 44% choose hobbies that have future career potential. Many have entrepreneurial spirit; led by observing parents as victims of overtly competitive environment, Gen Z are open to even start their careers as freelancers. While 80% opined that they are driven to do what it takes to succeed, 73% were also keen to explore non-traditional career options.

So, what makes a brand connect better with this new generation of consumers?

Being authentic: Gen Z are more sensitive to the world around them than millennials and care about the environment and ethical issues. They want to know where things come from and the impact their purchase is going to make on the world around them. 68% want to be associated with brands supporting social causes. Authenticity of a brand is therefore key.

Being inclusive: Gen Z value transparency with those they interact with and they are also very transparent about their desires and values. 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. They are always connected and are constantly evaluating unprecedented amounts of information and influences to make personal choices. Brands therefor need to avoid fall into stereotyping traps and be truly inclusive.

Being engaging: Millennials were more likely to follow celebrities and be influenced by their brand endorsements. Gen Z are likely prefer real-life influencers on YouTubers and Instagram. They consider these influencers to be more authentic than celebrities and look for those offering honest reviews of products and brands. They are conscious that marketers are trying to sell their brand and they prefer to engage with ‘real people’ and make choices basis their views and opinions. To grab the attention of this time-strapped consumer, brands need to communication content that is engaging and share-worthy.

Being unique: Unlike the Millennials, the Gen Z are not brand fanatics. 76% opine that they are not willing to pay premium for a brand just for its name. These consumers seek brands that can make daily life and mundane tasks easier, faster and as hassle-free as possible. From entirely new solutions to bundled products, integrated add-ons and innovative business or service models, they seek brands that understand and cater to their needs. Thus, brands need to communicate a well differentiated tangible benefit to woo this new generation.