Why Every CEO Should Spend a day with a “Gen Zer”

5 min read |#Management & #Entrepreneurship 

Growing up in the retail world, I’ve found that every brand has its history of what works and what doesn’t to be successful.  If you think back to your days of on-boarding at one of your first jobs, I’m sure you can recount the “golden rules” that were passed on to you by the hiring manager on the do’s and don’ts of the company. 

As of recently, I believe the rapidly changing landscape of the retail world is throwing most of the “golden rules” out the window. The do’s and don’ts of the industry are being challenged by new forces of nature like technology, AI, ecommerce, supply chain standards and one of my favourites, the new age group of shoppers, Generation Z. 

This new demographic of buyers are purpose driven, smartphone savvy individuals who know their way around the corporate agenda. They’re demanding stories over wholesale discounts, and personalized experiences over generic shopping at ubiquitous mall outlets. I’m fascinated by this shift that the industry is experiencing and as a result, I took some time to do my own research on how Kit and Ace can be proactive.

Who is Gen Z? 

If you haven’t heard about “Generation Z” and how their outlook on life is flipping the retail world on its head, let me give you the rundown. 

Business Insider claims Gen Z as:  

“the generation that was born between 1996-2010, following millennials. This generation has been raised on the internet and social media, with some the oldest finishing college by 2020 and entering the workforce”

A 2020 Hubspot report deems them as the most hyper connected generation alive, with the following summary of stats: 

• In 2019, Gen Z outnumbered millennials, making up 32% of the world's 7.7 billion-person population. (Bloomberg)
• The generation has an estimated purchasing power of 44 billion dollars annually. (LinkedIn)
• As of 2020, Gen Z makes up more than 40% of U.S. consumers. (Fast Company)
• More than 74% of Gen Z says they spend their free time online. (Insititute of Business Management)
• Roughly 75% of Gen Z most frequently uses a smartphone over computers and other devices. (Institute of Business Management)
• 59% of Gen Z will learn new skills if they result in higher pay. (LinkedIn)

Depending on your research, the birth date definition of Gen Z will fluctuate, but the common theme remains the same: This new demographic is rapidly shifting the way businesses need to hire, market, and build trust with their audience. 

So what does all of this mean for the retail world?

I’m a believer that research is only as good as what you choose to actively do with it. So I took the next step and invited a wonderful Gen Zer to spend a day with me.

A Day in the Life as CEO

After thinking so much on the topic, the thought occurred to me to host a Gen Zer to join me for a day at the office. I wanted to show them what life looked like as the CEO at Kit and Ace and to chat over their thoughts on business, culture and our approach to work.

Meet: Wendy Zhang.

A couple months back, Wendy reached out to me over Linkedin and asked if I ever opened the door to university students looking to learn more about our business and approach to leadership. Having done some other post secondary collaborations in the past, I was thrilled by the idea. So we coordinated our schedules to plan for “a Day in the Life as CEO”, with Wendy joining me at our head office.

Wendy is a Vancouver based undergraduate student at UBC pursuing a bachelor's degree in Mathematics and with a strong curiosity for leadership, technology and business. Our day was varied, but I tried my best to keep it as authentic as possible with no sugar coating. In joining me at meetings with our CFO and Head of Product, Wendy got to experience the behind the scenes of the clothing design process and also saw how our HQ supports each of our retail locations.  

When I asked about her thoughts on school, she shared that it was quite systematic and lacked the level of hands-on learning that she believes most younger people crave. So during our day together, I tried to emulate as much real life “hands on learning” as I could. Early on in the day, Wendy expressed surprise at how much laughter there was among our team, and was blown away that part of my role as CEO was to help facilitate that. I explained to her that my values will likely differ from those of other brands, but I believe that if we’re not having fun as a team then I can’t see us thriving in our roles.

As we transitioned from meeting to meeting, I explained to her how one of our core philosophies is seeing people as a core resource that drive innovation and success at Kit and Ace. If I had to micromanage everything that goes on under our roof, we’d get nothing done, I told her. My vision is to hire people who are empowered to make their own decisions without me or the leadership staff checking in at every moment of the process.

Her experience at university has taught her to work hard and have fun only after class or exams are over. But from her tour, she was able to witness that when you build a team around a culture where fun is part of the DNA, you can accomplish both.

Another observation at our corporate office that took Wendy by surprise was that most leadership positions in departments such Finance, Marketing and Product were held by women. She mentioned that this was “very affirming to see, as when you think of hanging out with a CEO for a day you don’t imagine being surrounded by powerful and business savvy women.”

Another habit that Wendy asked me about was my preference to call everyone by name. I shared with her that it was an approach taught to me by mentors in the past, and that choosing to take the time to add that personal touch and provide respectful eye contact can make all the difference in a busy, digitally noisy world. 

Wendy explained to me that before her first hand learning experience on our business tour, her idea of the corporate world was shaped by news articles, movies and whatever family friends would say. After a day with our team, she realized the fun and rewarding culture a retail environment can provide if the brand's values align with the employees who choose to work there.

To finish my time with Wendy, I was curious to hear her feedback on our brand (as a Gen Z) before and after the tour inside our company. After some time to reflect, she came to me with a couple honest answers: 

1. Evident Passion: She noticed that all the staff are genuinely excited about the product we design at Kit and Ace. She also noted an undeniable curiosity and desire to incorporate guest feedback in order to adapt to the needs of the community (resulting in innovations like the airpod pocket). There’s no fear of failing but instead actual encouragement to try things differently and to “pilot test” quirky ideas.  
2. Less boujee, more everyday focus: Before walking into our Head Office, Wendy saw Kit and Ace as an expensive (boujee) product and not something that younger people would wear everyday. After the tour, she recognized the brand pivot that was happening and how the design team is prioritizing apparel that is high quality but comfortable for everyday movement (whether at work, school, travel or during exercise). She is intrigued by the “whatever works for you kinda attitude” which she thinks will appeal to the somewhat rebellious Gen Z crowd who are reluctant to be “put into a box.”
3. New Appreciation:In looking behind the scenes of how a product is developed from an idea to full fruition, Wendy was able to get a glimpse into the world of retail and why the business behind the retail store can be so technical. She explained, “I have a newfound appreciation for seeing my friends wear the product or shopping at the locations because I now know the story of what goes on behind the product.”

It was quite a remarkable experience touring Wendy around our office and since doing so, I’ve thought differently about the future of retail and how we as a brand can build relationships with all different demographics that exist within our guest community. 

I’ve also been thinking of launching a challenge to other retail executives I know to welcome in other Gen Zers to their world of thinking and to educate them on how our work is evolving.

A new goal I have for 2020 is to host one Gen Zer at Kit and Ace each quarter.

Would you like to join me in the challenge? Leave a comment below or send me a message on Linkedin with a title "Gen Z Challenge" and we can chat...

As we reflect on Gen Z, I’m excited to see how this young, entrepreneurial and mobile first generation continues to push against the world we live in today. I hope this story paints an encouraging picture of how hard-working and diligent this younger cohort can be.

To highlight the benefit of Gen Z’s ability to leverage modern technology, we can think back to how Wendy initially reached out to me on Linkedin to initiate this whole idea. That connection triggered a day together full of learning and this new quarterly challenge has now followed as a result. 

To sum things up..

1. Be a Resource: If you’re in a position of authority, open yourself up to be a mentor, an encourager or to possibly host one of your own tours! (Message me if you have questions). 
2. Ask Questions: If you’re a “Gen Zer”, don’t leave the learning to the classroom. Be curious, reach out, attend events and ask questions that challenge the status quo.
3. Lift Others: Regardless of your work experience or your take on the new generation, let’s take every opportunity we have to lift others and amplify optimism this year. 

Thanks for taking the time to read this article. If any thoughts resonate or challenge you, I’d encourage you to send me a note over Linkedin or to tag a colleague in the comments below to spread the word on this topic.

P.S. If you haven’t hit the follow button on #LifeWithGeorge, what the heck are you waiting for? ;) 

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George Tsogasis the CEO of Kit and Ace, a leadership enthusiast, proud father and regular speaker on the topic of culture. Fascinated by people development and the world of logistics, he has been busy solving problems in the retail industry for close to 20 years. Previous to his time at Kit and Ace, George was VP of Global Logistics at Lululemon where he oversaw the infrastructure development to grow Lululemon from 4 stores to over 300. He enjoys connecting with people from all walk of life and loves spending his time away from work outdoors or with his family.

#Leadership #Career #Culture #GenZ