Gen Z consumers prefer brands with social causes: Report

economictimes.indiatimes.com:

Gen Z consumers attach more value to brands with social causes, with 63 per cent of these consumers more likely to buy from such brands that talk about a purpose, said a new report by youth impact organisation Yuvaa, on Gen Z.
According to the report released on Saturday, 71 per cent Gen Z consumers prioritise brands that are environment-friendly.

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The report said younger consumers favour friends' recommendations over celebrities when making purchases, with half of the consumers more likely to buy products through a friend’s recommendation, than through influencer or celebrity recommendation. This is contrary to many brand strategies that invest heavily on endorsements either through celebrities or through influencers on social media platforms.

Gen-Z consumers are those between 15-26 years, and according to marketers, these consumers are fuelling growth across multiple categories, including fast fashion, beauty, lifestyle, electronics, as well as low-alcoholic drinks such as seltzers and gins. E-commerce platforms including Amazon and Myntra are among the ones that have dedicated stores only to cater to Gen-Z consumers.
Over a fourth of such consumers consider price when making shopping decisions, and the consumers are split equally between “feminist and non-feminist brands”, Yuvaa said in the report.

A statement by Yuvaa said the report surveyed over 900 youth across more than 20 cities to map behaviour and preferences of young Indians.

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