1. Embracing the Brand Universe
One of the key observations from the event was the indispensable role of digital mediums and platforms in the daily lives of Gen Z. Companies that wish to attract top-tier talent from this generation need to step away from traditional approaches and embrace the creativity and intuition that resonate with Gen Z culture. While professional platforms like LinkedIn hold value, reaching Gen Z requires a multi-faceted approach. Brands should consider establishing their presence on platforms such as Twitter, Facebook, Instagram, YouTube, and even Reddit. By doing so, brands can delve into the layers of Gen Z culture and tailor their strategies to meet their unique professional needs.
2. Cultivating Authentic Trust
Gen Z values honesty and ethical leadership. Establishing trust isn’t automatic; it requires effort. Brands must avoid misleading tactics, as Gen Z is quick to call out dishonesty. Partnering with respected figures within the industry, whether they’re experts, employees, or online influencers, can foster trust. The event emphasized redirecting media and marketing budgets to platforms where trust can naturally flourish. Brands should aim to become the most trusted voice in their domain and consider conducting trust audits to assess their reliability, transparency, and overall reputation in the eyes of consumers.
3. Gen Z’s Evolving Relationship with Alcohol
The event also highlighted the shifting relationship of Gen Z with alcohol. Unlike previous generations, Gen Z exhibits a declining interest in alcohol consumption. The rise of the “sober curious” movement, inspired by wellness-oriented ideologies, suggests that Gen Z’s approach to alcohol is characterized by mindfulness rather than abstinence due to addiction. Brands should take note of this trend and consider incorporating alcohol-free offerings or messaging that aligns with Gen Z’s values.
4. Penny-wise Pioneers: Changing Spending Patterns
The event touched upon changing spending patterns among Gen Z students. While pre-university spending on items like stationery, books, clothes, and homeware has been decreasing, the pandemic-induced anomaly of increased spending last year does not reflect the broader trend. Students are now prioritizing saving for term-time expenditures, leading to a reduction in pre-uni purchases. However, weekly spending while at university remains relatively stable, highlighting the continued significance of this demographic’s purchasing power.
If you’d like to know more about effectively targeting youth markets, make sure to reach out to nick.friend@hunterlodge.co.uk – we’re well-versed in Gen Z, whether that’s TikTok, Instagram, The Metaverse or a word you’re yet to understand.
