People
Humankind lives in an immensely diverse world; no two people are the same. Gen Z is among the nations most populated generations thus making Gen Z one of the most diverse generations to date. Gen Z is not only the most diverse generation but a generation that embraces diversity. Over 50% of Gen Z is part of a minority group (IZEA, 2021). Gen Z is striving for brands to take action and embrace diversity just as they have.
In terms of purchasing habits, Gen Z tends to be one of the most educated generations. Gen Z is the most likely generation to base their purchases on how well a brand addresses diversity and inclusion (IZEA, 2021). Studies show that 83% of Gen Z consumer are more likely to purchase from brands that produce campaigns with diverse groups of people (McKinney, 2020).
Gen Z is heavily influenced by social media, the generation was exposed to the digital world from an early age and as a result this has impacted their purchasing habits. Approximately 97% of Gen Z uses social media to discover and educate themselves about new brands and products (Kastenholz, 2021). As a result, companies are forced to transform and become more authentic to meet the demands of this generation.
Diversification has become a major priority for numerus brands over the past decade. In September 2017 Rihanna redefined the beauty industry by launching her brand Fenty Beauty. With an extensive 50 shade range to match almost any skin tone, Fenty Beauty has become one of the most inclusive makeup brands to date. Nevertheless, Rihanna more was concerned about representation and equality than the actual foundations. Efforts were made by Fenty Beauty to address the lack of representation of women of color in the beauty industry. In addition, they strived to highlight that there should be representation for all skin tones, lights or dark.
In contrast to previous generations, Gen Z is more concerned about making the world a better place. When it comes to attracting Gen Z consumers, brands must first understand the importance of authenticity. This generation wants brands to educate them about the brand and then allow them to form their own opinions. Using influencers to appeal to Gen Z can be very effective. In order to attract the right Gen Z consumers, brands can use influences that correlate with their brand values. As the generation becomes more prominent, it is inevitable that brands will have to become truly authentic to attract Gen Z.
References
Fetto, F. (2020). How Fenty Beauty Changed the State of Play in the Industry. British Vogue. Available at: https://www.vogue.co.uk/beauty/article/rihanna-fenty-beauty-diversity.
Francis, T. and Hoefel, F. (2018). True Gen: Generation Z and Its Implications for Companies. McKinsey & Company. Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies.
IZEA (2021). Why Gen Z Values Diversity. IZEA. Available at: https://izea.com/resources/gen-z-values-diversity/.
Kastenholz, C. (2021). Council Post: Gen Z and the Rise of Social Commerce. Forbes. Available at: https://www.forbes.com/sites/forbesagencycouncil/2021/05/17/gen-z-and-the-rise-of-social-commerce/?sh=65fc0427251d
Oliver, M. (2021). How Diversity and Inclusion Affect Shopper Attitudes How Diversity and Inclusion Affect Shopper Attitudes. Available at: https://digitalcommons.lindenwood.edu/cgi/viewcontent.cgi?article=1004&context=theses
Russo, G. (2019). The Most Inclusive Fashion and Beauty Moments of the Decade. Teen Vogue. Available at: https://www.teenvogue.com/story/most-inclusive-fashion-and-beauty-moments-of-the-decade.