What:  The study breaks down a range of approaches to target the next generation of shoppers.

Why it is important:  By 2030, Gen- Z will make up the largest consumer segment worldwide.

A new generation of customers is entering the market at a critical juncture for brands and merchants. BoF put some widely accepted attributes of Gen-Z under the microscope, and interrogates how five industry players — Nike, Brandy Melville, Morphe, Depop and Louis Vuitton — have successfully capitalised on the Gen-Z opportunity.

Young consumers lack strong brand loyalty and increasingly expect more from brands beyond their product offerings to compete among the plethora of options easily available across platforms and channels. Here are some strategies brands are deploying:

• Generate value through values such as taking part in social justice issues and world events through corporate activism. (Nike)
• “You start the sentence and invite them to finish it”. Make the community feel like they are part of the process and give them the opportunity to collaborate with the brand. (Brandy Melville)
• Recognize that Gen Z wants personalised messaging, style, and ethos that’s designed just for them . (Louis Vuitton)
• Create novelty without waste. Renew, Reuse, Recycle…  (Depop)
• Choose famous faces wisely. Gen Z is attracted to a new kind of star power. (Morphe)

GenZ Shopping Separating Myth from Reality