Win the Hearts of China’s Gen-Z Consumers via Culture Transformation
With an estimated population of over 240 million, Gen-Z is set to become the largest consumer group in China. According to a report by McKinsey & Company, Gen-Z consumers in China are expected to contribute up to 20% of the country’s total consumption growth by 2030.
As China continues to open up and become more connected to the global economy, the power of Gen-Z will keep growing, representing a huge potential market for businesses that can understand and cater to the needs and preferences of this generation of consumers.
As a significant group, Gen-Z consumers in China value authenticity in the brands they support, making it crucial for companies to communicate their values and be transparent and interactive to build multi-dimensional experiences for trust and loyalty among this demographic.
To grab the hearts of Gen-Z consumers in China, brands must understand the below 5 unique challenges pushed by this demographic.
1. On Purpose with Authenticity and Transparency
In the post-COVID era, Gen-Z consumers are increasingly seeking out brands that are honest about their values, supply chain, and social and environmental impact.
2. Dynamic Customization and Personalization
Gen-Z consumers in China have grown up with drastic advancements in data and the rise of the original brands, they expect personalized and customized experiences that quickly respond to hot trends and topics in all aspects of their lives.
3. Innovation and Creativity
Innovation and creativity in products and services are highly valued not only for a unique experience and new touch feeling with high-tech, but brands they follow with high innovation ability but also reflect their own creativity in life and self-growth.
4. Social Engagement
Gen-Z consumers in China are placing increasing emphasis on social value and are looking for brands that align with their values and actively contribute to social causes in the post-pandemic era. Although communication and key content are still with the online platform.
5. Omnichannel Experience
Gen-Z in China is accustomed to omnichannel experiences, even if they are not aware of the term. They quickly seek out multiple online and offline touchpoints for new brands and prefer fast purchasing options. In the post-pandemic era, brands can expand the scope of omnichannel to cover more areas.
DOWNLOAD our full China Consumer Market Insight to read more about all 4 topics (She-conomy, New Luxury, Gen-Z, Omnichannel Experience) we‘ve covered about the post-pandemic Chinese market and how to navigate through the ever-changing business landscape with an innovative corporate culture.