28 Jan 2021
Gen Z is not simply superficial and impatient. They are quick learners, pragmatic, and looking for the authentic in a world full of fakes. Learn some background on their behavior and what it means for the watch industry.
Gen Z may be more style-conscious, authentic, and numerous than previous generations. Gen Z doesn't know the world before the Internet, because the Internet has always been a part of their lives. And according to Bloomberg, this generation will soon make up 32% of the population.
No wonder this generation has an eye for beauty, after all, they grew up with Instagram. With beautiful photos or filters, that make photos beautiful in the first place. Gen Z's are skilled at digital and sensitive to what they share and in what circles. They don't share everything with everyone, which is exactly why they sometimes have several Insta profiles: a Rinsta ("real insta") and a Finsta ("fake insta") profile. The Rinsta is the public profile with lots of posts and followers, while Finsta only contains posts for the close circle of friends. You can spot a fake.
They see and learn quickly, after all, there is a video tutorial for almost everything. Meanwhile, the rise of eLearning platforms is quenching the thirst for knowledge in the professional sphere as well - knowledge is freely available today, and at a fraction of the traditional price.
Further, the lively use of TikTok also proves how videos with AR technology are already an integral part of Gen Z's lives. In a world full of mirages, the importance of authenticity of people, companies and brands is clear.
Eight seconds is the average attention span. That's all they need to absorb content and judge whether it's worth a second look. Pragmatic decisions are necessary for this - they ultimately make and show these decisions in social exchanges, every day. Thus, Gen Z walks through the digital world with greater awareness. Diversity and the environment are practically fundamental values. Gen Z knows that their future is in their hands, so they are not simply looking for an offer, but a long-term relationship in a fleeting time. An authentic relationship with experiences that move them and take them further.
What has a more influential effect on us: a well-known influencer or someone from our personal environment? Nano- and micro-influencers are the new ambassadors for brands. They can be recognized by their high engagement rate and comparatively low number of followers. At the same time, nano- and micro-influencers do not consider their followers as "followers" but as their community. These influencers convey a sense of closeness and usually possess a higher degree of credibility and authenticity. In the same way, brands need to authentically share their opinions and interact as part of the community in order to be heard.
Gen Z is relevant and the watch customer of the future. According to a study by Bain & Company, Gen Z may account for up to 40 percent of all luxury goods purchases by 2035. So it's worth taking a look at Gen Z's background, behavior, and motivations. It's obvious that Gen Z thrives on digital exchange, loves videos and technology, and seeks experiences that will stay with them through life. In this context, it is important for brands to show contours and to move authentically in the community. Gen Z is not averse to watches, because watches have what their hearts desire: design, technology, and expressiveness through the stories of time. Brands need to know Gen Z's customer journey, guide them through it, and have personalized conversations. And do it digitally. In our whitepaper, we highlight some interesting opportunities to do just that.