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Gen Z & their product loyalties
What it is: Business of Fashion recently explored Gen Z brand loyalty through the lens of the beauty and skincare product market; According to McKinsey’s 2023 global consumer survey, 45 percent of Gen-Z respondents said they try new brands every two to three months. Despite this affinity to try new things, Gen Z also exhibits high levels of loyalty, with close to 60 percent willing to stick with their favorites, compared to around 50 percent of older generations. Additionally, studies found that Gen Z prefers gender-neutral products, prioritizing value and efficacy overall.
What brands can learn: Gen Z is not a monolith as mentioned previously, and while they do often search for new and better versions of products they enjoy, they are also more likely than previous generations to stay loyal once they find a brand they connect with emotionally -- transparency and relatability of product/experience win-out with Gen-Z. Through leveraging human brand truths, connect emotionally with your audience to reinforce reasons to believe around the brand.
Examples: 1 / 2 / 3
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