Gen Z, With 32% Of World Population Gives Huge Opportunity For Building Brands
Gen Z represents a huge opportunity for businesses looking to expand, with a combined purchasing power of more than USD 143 billion and an estimated 2.56 billion population worldwide
This generation has been raised on the internet and social media and is highly influenced by it. Therefore, brands that focus on this group are focusing on a strong presence on social media.
Ankur Madaan, Co-founder and COO of Chargeup says Gen Z value the cause and its authenticity what they look for. They are very much influenced by peer groups or micro-influencers and what they become proponents of.
Generation Z, also called Gen Z is a new buzzword nowadays, it stands for the generation born between 1997-2012, following millennials.
On building the Gen Z brand, Nitin Agarwal, Co-Founder and Chief Growth Officer at Upscalio says that this group is heavily individualistic about what they want in life. Therefore, brands that care for their individualistic needs are the one that stands out for them.
The pandemic has also increased Gen Z’s motivation to volunteer and support their communities. 55 per cent of Gen Z said they were more likely to do so now than before the crisis. Also, there is a nationalistic sense of brands and fashion in them.
If you are providing Indian products with world-class quality, they are upfront to pick up, Shradha Agarwal, Co-Founder and CEO of Grapes said. “If you focus on Gen Z, focus on bold advertisements,” Agarwal added.
The pandemic’s consequences for Generation Z are far-reaching, affecting their mental and physical health, employment, education, and most importantly their future. However, Gen-Z is very empathetic with trying new trends and fashion.
Co-founder and CEO of Adda247, Anil Nagar says that our company focuses on who basically prepares for competitive exams, so we provide them with all sorts of facilities through online classes.
Gen Z represents a huge opportunity for businesses looking to expand, with a combined purchasing power of more than USD 143 billion and an estimated 2.56 billion population worldwide.
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