The Gen-Z Consumer Behaviors

What comes to mind first when we say Gen-Z? Is it a generation that creates its language, is a part or product of the digital world, holds the future, or is it a group of young people who do not know the rules?

Some of these may be true, but these stereotypes may not be very appropriate for thisgeneration, who is now in their 20s! Gen Z spans the years 1997 to 2010, although these dates vary depending on who you ask. As of now, Gen Z ranges in age from 11 to 24. This puts them at an interesting crossroads. According to Talon; The elder half of the generation is now legally classed as an adult, and many individuals have already entered the workforce. The tail end of the generation, on the other hand, is still in school. These younger zoomers won’t gain any sort of financial independence for quite a while, and they'll probably change our current understanding of their generation as they get older.
In terms of formative socioeconomic influences, Gen-Z has already lived through a few defining events. While the COVID-19 pandemic has hit Gen-Z especially hard, it's not the only major economic downturn they've lived through. The first was the great recession of 2007-2009. They’re generally more financially pragmatic than millennials, and they tend to be more risk-averse. However, one thing they do have in common with millennials is a strong belief in social causes and corporate responsibility. This is in striking contrast to Gen Xers.

The Criteria
As the generation most likely to discover new brands on digital channels, from social media platforms to ads on websites and apps, Gen Z has become notably less loyal to brands as a result. This generation tends to be informed consumers and will often research and weigh options before making a buying decision. Because of the emphasis on value for their money, Gen Z's purchase behavior is highly influenced by reviews and word-of-mouth through media. With access to a larger list of brands than ever before, Gen Z tends to be much less attached to specific brands, instead preferring to shop around for the best deal. Gen Z places high importance on brand ethics and corporate social responsibility, even more so than Millennials. They favor brands that ensure sustainable sourcing, production, and labor, and are willing to spend more on brands that uphold strong ethical values. Gen Z isn’t just
buying a product, they’re buying into a brand, and they want to feel a deeper connection to that brand through their shared values. Driven by a strong sense of individuality and the need to reflect their values, preferences, and
interests with every purchase, Gen Z seeks a personalized and authentic shopping experience. Methods typically used to win over and retain customers, such as discounts and rewards programs, are less popular with younger consumers. Brands need to show a mixture of value, quality, and ethical practices to tap into the Gen Z wallet.
The website The Shelf. Gives us these stats; 87 percent of Gen Zers say privacy is more important than getting “likes” on social media. 75 percent of them will only use location features on apps when it’s required to function.
58 percent turn location sharing on and off based on how and when they wish to use it. 33 percent of Gen Zers worry about the security measures of brands. 38 percent worry that brands are sharing their info without consent
Gen Z is one of the most influential demographics to market to, and companies must understand how to appeal to their preferences. Gen Z shoppers know what they want and are strong in their demand for high-quality, speedy, and seamless shopping experiences with companies they can trust and feel good about supporting. In a world where information has never been so available and accessible, consumers are making very specific and predictable purchase decisions. In response, companies must make regular adjustments to their strategy to capture the interest and buying power of each newly ascendant generation of consumers to stay relevant in today’s fast-paced market.