Generation Z, those born between 1996 and 2015, are current consumers, future business leaders and the future of this world. Yet, Gen Z is unlike any other generation to date.
With buying power of more than $140 billion, Gen Z is the fastest-growing consumer segment with unique purchasing values in mind and the willingness to act upon them. Gen Z wants companies to use their scale to push for environmental progress, human rights, inclusion and honesty and transparency.
Environment. There are just seven short years left before the damage from climate change is irreversible. As found in a recent UNiDAYS survey, 93 percent of Gen Z believes brands have an obligation to take a stand on environmental issues. From developing company-wide environmental policies to making smart climate-related investments, Gen Z wants to see actionable plans and measurable progress.
With buying power of more than $140 billion, Gen Z is the fastest-growing consumer segment with unique purchasing values in mind and the willingness to act upon them.
Human rights. Strong ethics are critical to a brand’s success in forming a relationship with Gen Z. Supply chain workers' health and safety, combined with ethical working conditions and practices, and taking into consideration environmental impacts are needed to ensure brand trust and build brand loyalty with consumers. Ethics are important to young people now more than ever.
Diversity, equity, inclusion. Diversity, equity and inclusion (DEI) is a core belief. Black Lives Matter. Equal pay matters. LGBTQ+ acceptance matters. Gen Z expects diversity, equity and inclusion to be embraced by brands. Promoting DEI in the workplace is a critical aspect of a successful company. Based on actionable initiatives, Gen Z wants companies to have diverse voices in leadership, equal pay and fair opportunities for all.
Honesty and transparency. Gen Z is done with fake news. According to a recent study conducted by the Consumer Goods Forum and Futerra, 90 percent of Millennials and Gen Z personally care if they receive honest information about products. Transparency in a digital age sets great companies apart from all others. In an age of skepticism and misinformation, transparency at all operation levels is crucial for building brand loyalty and trust with the Gen Z market segment. Gen Z is the Honest Generation.
With these four values in mind, Devishi Jha and I, both Gen Z students, created Voyagers to fill the gap we see between sustainable businesses and youth consumers. Launching Oct. 21, Voyagers is working to foster relationships between sustainable businesses and youth voices. Through an industry panel with sustainability leaders from IKEA and Clif Bar and climate activist Ziad Ahmed, Voyagers’ launch will be the beginning of forcible youth-led change in the world of business sustainability.
Developed by youth for youth, Voyagers provides a platform of youth voices for sustainable businesses to hold campaigns to rally supporters, share and promote their sustainability journey stories and gain irreplaceable Gen Z consumer insights.
The Gen Z consumer segment is growing fast. By 2023, Gen Z will be the largest generational segment in the economy. We invite you to join us.