I was once at a supermarket buying groceries for my mom. At a distance, I saw a couple of girls at the Loreal Stall. Their nonchalance and carefree attitude betrayed their GenZ-ness. I happened to overhear them as I was within their earshot. A girl, who had scarlet red coloured hair, was talking about a celebrity influencer on Instagram she saw recently promoting a lipstick. The lipstick was sparkly and had a striking colour. And it was a limited edition product too. Their panic and frantic search for the product made me smile. About how times have changed with FOMO and influencer culture rampant within the GenZ generation.
Do GenZ drive consumerism? Let’s find out.
- Digital Natives:
Gen Z is the first generation to grow up entirely in the digital era. From social media platforms to e-commerce websites, the internet forms a major part of their lives. The internet dictates their shopping habits as well. Convenience is paramount, and they want to have the ability to browse, compare, and purchase products with just a few taps.
- FOMO (Fear of Missing Out):
Social media plays a significant role in the lives of Gen Z, offering a window into the lifestyles of their peers and influencers. The constant stream of curated content showcasing the latest trends and products can evoke a sense of FOMO among this generation. The fear of being left out or not keeping up with the latest trends drives them to participate in consumer culture actively. - Individuality and Personal Branding:
While Gen Z values individuality and self-expression, their quest for authenticity often intersects with consumerism. Brands that align with their values and allow them to express their identity are highly appealing. Gen Z seeks products that reflect their unique personalities and beliefs, even if it means investing more in these items. - Influencer Culture:
Influencers’ influence over Gen Z consumers is huge, acting as tastemakers and trendsetters. Their endorsement of products can significantly impact purchasing decisions within this demographic. The aspirational lifestyles portrayed by influencers create a desire for the same products and experiences, driving consumerism to new heights.
- Instant Gratification:
Living in a world of on-demand services and same-day deliveries, Gen Z has become accustomed to instant gratification. Patience is no longer their strongest suit when they can have their desired products delivered to their doorstep within hours. This desire for instant gratification fuels impulse purchases and contributes to the continuous cycle of consumerism.
- Socially Conscious Consumption:
Contrary to popular belief, Gen Z is not solely driven by materialistic pursuits. This generation places a high value on sustainability, social responsibility, and ethical practices. Brands that demonstrate a commitment to these values often garner loyalty from Gen Z consumers. Gen Z are willing to invest more in products that align with their ethical standards.
Marketers need to strike a balance between meeting consumer demands and promoting responsible consumption habits, ensuring a sustainable future for both businesses and society as a whole.
