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. By 2031, their income will reach $33 trillion, surpassing that of millennials. Gen Z is on its way to claiming the greatest purchasing power and connectivity the world has ever known.
Gen Zers are hyperconnected individuals, inherently comfortable expressing themselves through digital creative tools. Valuing creativity is a core belief among many of them. Over half of Gen Zers stated that they believe they’re more creative than previous generations, and they uniquely describe creative pursuits as essential, meaning they don’t see creativity as a side outlet but rather as a core attribute of daily life.
Ogilvy's research 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.
Shifting Towards a Sharing Mindset - 5 Imperatives making the shift:
1. Build with your community, not for your community
2. Help GenZ navigate the new education and employment landscape
3. Empower emerging solopreneurs and the creator economy's rising middle class
4. Get comfortable experimenting with Web3
5. Your community must be action oriented and rooted in clear values
While every generation wants to build a world that reflects its priorities, Gen Z’s connectivity and the shifting power dynamic between brands and creators demand that more young individuals be included at all levels of your business. As Gen Z continues to amass economic and cultural influence, brands must adopt a sharing mindset and decide which Gen Z interests matter most and which community structures best foster them. With a flourishing community that entitles rather than dismisses young leaders and a sharing mindset, firms can create novel relationships, exciting user experiences, and wholly new product categories as well as avoid costly market missteps.
Ogilvy 2022 For Gen Z Brand Is What You Share
.
Download • 94.04MB
Source: Ogilvy