Generation Z in Consumer Goods – Thematic Research
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Generation Z in Consumer Market Analysis Overview
Gen Z is a demographic cohort born from 2001 to 2019 and aged two to 21 years old in 2022. The older members of the generation may have left home and are finding stability and freedom financially and socially. To target Gen Z, companies are implementing new strategies and products based on what appeals to this generation. As these consumers enter financial freedom, this means that they have a growing influence on the consumer goods sector and economic climate, meaning there will be huge growth in areas that are imperative to Gen Z, like personalization and sustainability. The global e-commerce sales of the consumer goods market is worth $354.75 billion in 2022. The market is expected to grow at a CAGR of more than 9% from 2022 to 2026.
Global E-commerce Sales in Consumer Goods Market Outlook
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Gen Z is distinguished from other generations due to its capability and consistent usage of digital technology. Social media also has a large dominance in their lives. However, brands have adapted to the popularity of these platforms with younger consumers and thus created profiles for their brands.
Market Size (Year – 2022) | $354.75 billion |
CAGR (2022 – 2026) | >9% |
Key Themes | Personalization, Convenience, Hyper-Targeted Products, and Digital Solutions |
Key Companies | Alibaba, Coca-Cola, Heineken, Hershey, L’Oréal, McDonald’s, Mondelez International, PepsiCo, Restaurant Brands International, and Starbucks |
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Key Themes Related to Gen Z
Personalization
Personalization is a great way for brands to engage consumers. The dominance of personalized products and services within the consumer goods industry has enabled many brands to thrive in the current climate with Generation Z consumers. The COVID-19 pandemic meant that consumers were less able to physically visit stores and choose products from them so many companies adapted to this societal change and promoted their personalized services online.
Convenience
The convenience of a product or service is a key consideration when Gen Z are making their consumption choices. Companies have adapted to this by creating resealable, refillable, and reusable packaging so that consumers can consume these products at their convenience. As well as this, Gen Z have grown up with a range of delivery aggregators that can deliver their produce to their homes at the click of a button.
Hyper-targeted products
Hyper targeting is a marketing strategy that allows marketers to reach consumers and deliver personalized adverts that the target consumers will see. Following from this, hyper-targeted products have the same aim and many companies have utilized this strategy to target Gen Z.
With the utilization of social media, it has been easier for companies to target multiple generations as they can see what is popular online with a specific cohort of consumers.
Digital solutions
Digital solutions have allowed consumer desires to become reality. For example, if a consumer wanted food from a fast-food restaurant within an hour to be delivered to them, these apps make this possible. These technological advances even mean that it is possible for a timeline/tracker of the consumers food from the preparation stage to when it is delivered at the door to be seen by the consumer. With this hyper-connectedness in digital lifestyles, Gen Z has become accustomed to fast-paced consumption and gaining what they desire online in a fast time.
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Gen Z Theme – Key Trends
Technology Trends
The key technology trends shaping the Gen Z theme are online shopping, abundance of information, social media, and targeted marketing.
Macroeconomic Trends
The key macroeconomic trends shaping the Gen Z theme are economic impact of COVID-19, the future of work, impulse purchases, ethical consumerism, conscious spending, premiumization and personalization, plant-based consumption, and focus on mental health.
For more insights on key trends impacting the Gen Z theme, buy the full report or download a free report sample
Generation Z in Consumer Goods – Competitive Landscape
Some of the key companies associated with the Gen Z theme are Alibaba, Coca-Cola, Heineken, Hershey, L’Oréal, McDonald’s, Mondelez International, PepsiCo, Restaurant Brands International, and Starbucks.
Key Companies in the Generation Z in Consumer Goods
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Scope
- Generation Z is diversifying the consumer goods sector.
- Sustainability is key to this generation in the consumer goods industry.
- Online purchases are increasingly popular with Generation Z as they have grown up with these being easily accessible to them.
Reasons to Buy
- Gain broader knowledge on the preferences of Gen Z and how companies can target them.
- Explore the reasons why this generation make purchasing decisions that other generations do not.
- Explore companies that have targeted this generation successfully. .
Hershey
Heineken
L'Oreal
McDonald's
Mondelez International
PepsiCo
Restaurant Brands International
Starbucks
Table of Contents
Frequently asked questions
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What are the key themes related to Gen Z?
The key themes related to Gen Z are personalization, convenience, hyper-targeted products, and digital solutions.
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Which are the key companies associated with the Gen Z theme?
Some of the key companies associated with the Gen Z theme are Alibaba, Coca-Cola, Heineken, Hershey, L’Oréal, McDonald’s, Mondelez International, PepsiCo, Restaurant Brands International, and Starbucks.
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What is the global e-commerce market size in 2022?
The global e-commerce sales of the consumer goods market is worth $354.75 billion in 2022.
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What is the global e-commerce market growth rate?
The global e-commerce market is expected to grow at a CAGR of more than 9% from 2022 to 2026.
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