Looking at Gen-Z Patterns in APAC
The generation born between the years of 1996-2014 is just starting to come of age. They may be young, but it is more important than ever to understand this cohort and what the implications are for the future. They will become powerful buyers of tomorrow. And though other generations such as Millennials and Gen-X have some common attributes, Gen-Z is highly distinctive. This is particularly true across the Asia Pacific. Sure, the pandemic is shaping the way this generation thinks and consumes, and this will also have an impact on values around shopping, brands, culture, and media well into the future.
Projections show that by 2025 a quarter of the APAC population will be composed of Gen-Z. They tend to share a more liberal and democratic worldview and are shaping society as a result. Take sustainability, for example. This generation wants their values to show up in their behavior. The world is being crafted around themes like the environment, governance, and equality. Many in the Gen-Z generation have grown up with a large focus from the world on sustainability. And not only do they want to follow this path, but they also want to be seen as being in touch with the times. However, an interesting point to note is that since Gen-Z is so young they are often financially constrained in terms of resources. So, although they often want to be seen as being in touch with environmental issues by choosing sustainable brands and products, they cannot always afford it.
Brands for Gen-Z is also at an interesting crossroads. The generation first and foremost wants something that sets them apart as unique and has cachet. This typically puts them into the quadrant of brands that are up-and-coming with a lot of realized growth. But at the same time these brands still need to be recognizable. This would be something along the lines of the Millennials knowing these brands, but perhaps not Gen-X. Thus, making the brands cool, but not over-commercialized. Once again, the trends show us Gen-Z wants it all and unabashedly so.