Retail is obsessed with Generation Z
Gen Zers are different from older generations because they are the first consumers to have grown up wholly in the digital era. They’re tech-savvy and mobile-first—and they have high standards for how they spend their time online. So brands must get ahead of Gen Z’s tendency to be online at all times, and make sure to meet this generation’s digital expectations.
As per the site 99 Firms reports:-Gen Z is holding $360 billion in disposable income, has a freakishly innate tendency to do their own brand research, and most use their smartphone at least five hours a day, contributing to massive amounts of consumer data.
But, according to Insider Intelligence:- just 39% of Gen Z internet users trust brands to keep their data safe. That’s the lowest confidence rating of any generation, which isn’t surprising given the number of data breaches that are in the news each day. They are concerned about
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And this trend is not only from Tier 1 or Tier 2 cities but also from Tier 3 cities and beyond metros. But also “they have shown a strong willingness for sharing 2X data when they trust a brand, but they want to have greater control of their online data.
Hence, comes the modern-age dilemma for most brands to find a balance between providing personalized information vs maintaining data security. Now it's onto the brand, how do they collect personal data today & what privacy options do they provide to the end user keeping in mind our GenZ?
Vision Board: Operational Excellence & Growth | Communicating Stories That Connect | Formerly at Spinny and Concentrix | Sales and Marketing Enthusiast
1yIt's a great piece to learn how conscious Gen Zs are related to their data privacy. I would rather say it's an awareness about the other aspects/consequences when you're almost relying on to anything online. However, the 3rd point of your article seems a lil contradictory as it's 'the millennials' who used to make perception of a brand just on the basis of Video content or TV Ads. GenZs are even smarter and intellectual about their actions. They have access to unlimited information at their fingertips. Probably that's the reason the companies these days want to grab attention through their trusted partners and channels. Here, I find Spinny 's approach quite fascinating!