IN THEM WE TRUSTWe have compiled some data about Generation Z that we found incredibly revealing and may be of interest to you also. It can only be a good thing when the younger generation view sustainability and ethical values as important aspects of fashion and consumption in general. We took a look at some of the data & reports that describe Generation Z to understand more. Below we listed some overall conclusions that hopefully can increase our understanding for this emerging group that is expanding quickly in size.
CSJ – “THE NEW CSR”Corporate Social Justice - is essential for companies and brands who want to have a relationship with Gen Z.
SUSTAIN-ABILITYA fashion trend among Generation Z.
Gen Z’s shopping behaviours are “strongly influenced” by brands commitments to social and environmental sustainability, according to a new report from marketplace Depop and consultancy firm Bain and Company.
Based on a survey of 2,000 Gen Z Depop buyers and sellers in the UK, US and Australia, the ‘Futureproof: How Gen Z’s empathy, awareness and fluidity are transforming business as usual’ report shows that Gen-Z consumers have shifted how they shop and that they are concerned about consumption, sustainability and self-expression.
Nearly seven in ten (68%) of Gen Z members demand that their clothes are manufactured to the highest ethical standards and 57% feel brands championing sustainability, equality and diversity are getting it right. These figures come from the recent report run by UNiDAYS surveying a panel of more than 18k Gen Z students to explore Gen Z’ fashion trends and preferences, their attitudes to retailers, sustainability, pricing and more.
Back in the days, Apple had a clever and long term strategy to communicate to and with students and schools. They understood that if they had a strong relationship with the student generation, they would likely be loyal “forever”. Apple founder Steve Jobs said in an interview with the Computerworld Smithsonian Awards Program in 1995 that "- one of the things that built [the] Apple II was schools buying Apple IIs."
“With 82 million Gen Z-ers becoming vocal consumers by 2026, organizations must commit to a CSR initiative, focusing on authenticity and decisiveness about the world issues, specifically racial justice, that genuinely matter to young adults everywhere.”
“Generation Z includes anyone born between 1995 and 2012 and makes up a quarter of the U.S. population. As digital natives, Gen Z has grown up scrolling, and with 24/7 access to online resources, they are fast becoming the most well-educated and self-reliant generation yet”.
GENERATION Z STATS61% of this generation are willing to pay more for products that are produced with ethical and sustainable methods. Source (mckinsey.com)
FACT 1Gen. Z are at the most diverse generation yet: 52% are non-Hispanic white, 25% are Hispanic, 14% are Black, 6% are Asian, and 5% are one or two more races.
FACT 256% of Gen. Z are more likely to try a product or service if their favorite online influencer recommends it.
FACT 368% of Gen. Z usually consider delivery times and options prior to completing an online purchase.
FACT 4Gen Z will make up 30% of the US workforce by 2030 and is estimated to increase their per capita annual expenditure by 70% between 2020 and 2025.
FACT 5Gen. Z’s annual purchasing power is estimated as high as $323 billion in the US, with researchers believing this can grow by more than 4X when accounting for Gen Z’s influence within their household.
FACT 668% of Gen-Z expects brands to contribute to society.
FACT 766% of Gen-Z says that product quality matters most to them when making a purchase.
64% of Gen. Z:ers will pay more for eco-friendly products
- The hunt for sustainable clothing has popularized worldwide, according to Google trends.
- With 70% of Gen. Z preferring brands they consider ethical, companies need to incorporate social justice into their initiatives and fast.