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How is Gen Z impacting consumption in India?
Internet
·
11m ago
Medial
Gen Z consumers are fuelling the growth of Indian D2C (direct-to-consumer) and quick commerce companies, said Bernstein. Brands that align with Gen Z's preference for speed and convenience are thriving, while traditional players are witnessing shrinking market share. Gen Z, who contribute 17% to total consumption, has also forced companies to change branding strategies to capture their attention.
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E-commerce giant Flipkart launches new fashion portal 'SPOYL' for GenZ
IndianStartupNews
·
1y ago
Medial
Walmart-owned Flipkart has introduced a new fashion platform called 'SPOYL' targeting Gen Z shoppers in India. The portal offers over 40,000 products, including western wear, accessories, and footwear. As one in three online shoppers is Gen Z, Flipkart aims to cater to their expressive and unique fashion preferences influenced by global trends, pop culture, and more. The move seeks to capitalize on Flipkart's 25% Gen Z fashion customer base and establish a strong presence in the Indian online fashion market.
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84% Gen Z consumers rely on GenAI for news interpretation: Google, Kantar report - The Economic Times
Economic Times
·
8h ago
Medial
A Google and Kantar report, "Bridging the Gap: Reimagining News for Gen Z," surveyed over 4,000 Gen Z respondents across 40 markets. It revealed 84% of Gen Z use AI for deeper news insights, while 43% verify messages before sharing, and 49% distrust reports from unverified accounts. Gen Z values credible, emotionally resonant news. Social media is the primary news source for 91% of respondents. English is preferred for reading, while local languages dominate audio and video news.
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Amid flux, FMCG Inc's turning over a new chief
Economic Times
·
24d ago
Medial
Several major FMCG companies in India, including Coca-Cola, Hindustan Unilever, L’Oreal, and Nestlé, are undergoing significant leadership changes amid intensified competition, sluggish growth, and the need for technological adaptation. New leaders are expected to bring fresh ideas to tackle challenges like the rise of D2C brands, Gen Z consumption patterns, and slowing urban market demand. The FMCG sector requires innovative consumer technology strategies to counter stagnant growth and competition from emerging insurgent brands.
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30% of GenZ begin investing in university, early adulthood: WEF
Business Today
·
4m ago
Medial
The World Economic Forum's Global Retail Investor Outlook 2024 reveals that 30% of Gen Z begin investing during university or early adulthood, a significant increase compared to previous generations. The report, covering 13 economies, also highlights that 41% of Gen Z and Millennials are open to using AI for investment management. Additionally, 86% of Gen Z gain investing knowledge by workforce entry. The focus for 2024 is on emergency savings and understanding investment options.
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Amazon Fashion’s Next Gen Store logs 3X growth in Gen Z shoppers
Economic Times
·
4m ago
Medial
Amazon Fashion's Next Gen Store, targeting Gen Z, has seen 3x growth in Gen Z shoppers and a 4x increase from tier-II cities. It offers over two million products from 340+ brands. With more than 60 million Gen Z individuals shopping online, there's a growing opportunity for brands. The store's success highlights the digital shift in fashion accessibility. Amazon also expanded its 10-minute delivery service, Amazon Now, as part of its scale-up strategy.
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India's 377M Gen Zs add $860B to country's overall consumer expenditure: Report
YourStory
·
9m ago
Medial
India's Gen Z population, consisting of people born between 1996 and 2010, is the largest and most influential generation in the country's history. A report by Snap and Boston Consulting Group (BCG) reveals that Gen Z in India has a collective spending power of $860 billion, accounting for 43% of the country's total consumer expenditure. By 2035, their spending power is projected to reach $2 trillion. The report highlights the need for businesses to understand and engage with Gen Z's unique values and beliefs in order to succeed in the market. However, only 15% of brands surveyed are actively leveraging these insights, presenting an opportunity for deeper connections with this generation.
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Rethinking Brand Loyalty: Strategies For Building Trust And Retention
Inc42
·
1y ago
Medial
There is a decline in consumer trust towards brands, with 55% of consumers not trusting brands as much as before. This lack of trust is especially pronounced among Gen Z consumers, with 79% stating that it is crucial to trust the brands they buy from. This article explores the reasons behind the fading brand loyalty and offers suggestions on how businesses can adapt to this changing landscape.
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Younger workers are actually using AI on the job less than Gen X and millennials
Business Insider
·
1y ago
Medial
A recent study by Ernst & Young conducted with a third-party research group found that older American workers (~74% of millennials and ~70% of Gen X) are more open to using AI at work than Gen Z. The study suggests that younger workers may trust AI less and be less convinced of its value. Some possible reasons include differing levels of comfort with new technologies and higher expectations of technology by Gen Z, who may quickly move on if AI doesn't meet their needs. However, some Gen Z workers have found AI helpful in their jobs.
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72% Gen Z values job satisfaction, work-life balance over salary, study reveals
Money Control
·
10m ago
Medial
A recent study by talent platform Unstop revealed that Generation Z employees prioritize job satisfaction and work-life balance over earning a higher salary. The study found that 72% of Gen Z workers value job satisfaction over pay, and 77% prefer opportunities for growth and development over higher wages. This represents a shift in workplace priorities compared to previous generations. Additionally, nearly half of Gen Z professionals are considering changing jobs within the next two years, with work-life balance being a crucial factor. The study highlights the need for companies to adapt to the preferences of Gen Z employees to attract and retain talent.
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Stop complaining about Gen Z workers—and start helping them
Livemint
·
12d ago
Medial
Gen Z workers missed essential career-shaping experiences due to the pandemic. Rather than complaining, bosses should assist in bridging these gaps. Leadership coach Susan Lucia Annunzio emphasizes the importance of helping Gen Z gain workplace skills. By supporting this generation, managers can foster a more skilled and adaptable workforce.
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