Gen Z, digital natives aged between 7 and 23, is a massively fetishized group when discussing the future of retail. So Stylus forecasters at the semi-annual Decoded Future New York created a presentation focused on how to tap into this 40 percent of consumers, which now harbor some major spending power. Here is a summery.
In an uncertain world, this consumer seek reassurance and remains out of reach of traditional avenues of advertising which are seen as lacking transparency, instead relying on curated market places with apps such as Yeay which allow them to recommend and rate products with their community. Powering the brand of self and supporting the side hustle motivates this group of cautious opportunists. A rise in micro-entrepreneurism already evident in the teen traders on Stock X, the self-described “world’s first stock market for things” where buyers can make bids and complete transactions on everything from Yeezys to Louis Vuitton trunks. The review culture will remain dominant due to Gen Z’s trust issues.