Table of Contents
Executive Summary
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- The market
- Better-off life and economic slowdown drives rethink of success among young people
- Young digital natives learn and thrive in the digital age to balance online and off-screen activities
- Gender diversity has raised acceptance of diversity and inclusivity in many aspects
- The consumer
- Participation in business or investment is high among Gen Z
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- Figure 1: Sources of income, by employment, December 2020
- Salary and career growth, though important, only mentioned by 40% of Gen Zers as the top important factor
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- Figure 2: Ideal jobs, December 2020
- Product appearance has significant aesthetic and symbolic values for Gen Z of both genders
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- Figure 3: The pursuit of appearance, December 2020
- Besides exercise, online shopping is considered as the top choice to improve mood
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- Figure 4: Ways to de-stress, December 2020
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- Figure 5: Ways to de-stress, December 2020
- Gen Zers are flexible to changes while aware of developing consistent “buydeology”
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- Figure 6: Tendency of change and persistency, December 2020
- Beyond active online activities, half of Gen Zers have been consciously controlling the time spent online
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- Figure 7: App usage habits, December 2020
- Only two in 10 Gen Zers set spending budgets
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- Figure 8: Consumption habits, December 2020
- What we think
Issues and Insights
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- Creating off-screen functions and experiences to help deal with digital dilemma and mood management
- The facts
- The implications
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- Figure 9: Archaeology-themed blind box, 2021
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- Figure 10: LEGO Flower Bouquet, 2021
- Figure 11: Déjà vu recycle store, 2021
- Responding to Gen Zers’ demand on appearance by embracing unisex aesthetic principles
- The facts
- The implications
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- Figure 12: The MISTER line of GIVENCHY, 2021
- Understanding the contradictory nature of aimlessness towards self-identification
- The facts
- The implications
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- Figure 13: “Live the Journey” pop-up event, 2021
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- Figure 14: 54traveler.com, 2021
Market Factors
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- Better-off life and economic slowdown drives rethink of success among young people
- Young digital natives learn and thrive in the digital age to balance online and off-screen activities
- Gender diversity has raised acceptance of diversity and inclusivity in many aspects
The Consumer – What You Need to Know
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- Participation in business or investment is high among Gen Z
- Salary and career growth, though important, only mentioned by 40% of Gen Zers as the top important factor
- Product appearance has significant aesthetic and symbolic values for Gen Z of both genders
- Besides exercise, online shopping is considered as the top choice to improve mood
- Gen Zers are flexible to changes while aware of developing consistent “buydeology”
- Beyond active online activities, half of Gen Zers have been consciously controlling the time spent online
- Only two in 10 Gen Zers set spending budgets
Living and Financial Situation
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- Participation in business or investment is high among Gen Z
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- Figure 15: Sources of income, by employment, December 2020
- Educational background and side business contribute to Gen Z’s income
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- Figure 16: Monthly personal income, by employment, December 2020
- Three in 10 among working Gen Z are pet owners
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- Figure 17: Living situation, by employment, December 2020
Job Expectations and Future Plans
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- Salary and career growth, though important, only mentioned by 40% of Gen Zers as the top important factor
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- Figure 18: Ideal jobs, December 2020
- High earners pay more attention to job contents
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- Figure 19: Ideal jobs – Any selected, by monthly personal income, December 2020
- Gen Zers in tier two cities have more considerations upon workplace relationships than being competitive
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- Figure 20: Ideal jobs – Any selected, by city tier, December 2020
Perceived Importance of Appearance
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- Product appearance has significant aesthetic and symbolic values for Gen Z
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- Figure 21: The pursuit of appearance, December 2020
- Men are more assertive to designs when talking about digital products and cars
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- Figure 22: The pursuit of appearance, by gender, December 2020
- Environmental attractiveness is considered more important for consumers in higher tiers
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- Figure 23: The pursuit of appearance, by city tier, December 2020
Mood-boosting Activities
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- Besides exercise, online shopping is considered as the top choice to improve mood
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- Figure 24: Ways to de-stress, December 2020
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- Figure 25: Ways to de-stress, December 2020
- Efficient online shopping is more welcomed by busy Gen Zers in the workforce
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- Figure 26: Ways to de-stress – Done it, by employment, December 2020
- A laid-back job and life attitude is on the rise
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- Figure 27: Ways to de-stress – Done it, by job expectations and future plans, December 2020
Tendency to Change and Persistency
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- Gen Zers are flexible to changes while aware of developing consistent “buydeology”
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- Figure 28: Tendency of switching and persistency, December 2020
- Life stage has more impact on brand choices but less on style preferences
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- Figure 29: Tendency of change and persistency – Frequently change, by employment, December 2020
- High earners in the workforce are more active in trying different styles and brands
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- Figure 30: Tendency of change and persistency – Frequently change, by monthly personal income, December 2020
Online Activities and App Usage Habits
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- Beyond active online activities, half of Gen Zers have been consciously controlling the time spent online
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- Figure 31: App usage habits, December 2020
- Information updating is even more important for Gen Zers in the workforce
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- Figure 32: App usage habits, by employment, December 2020
- More self-disciplined awareness of digital habits among high earners
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- Figure 33: App usage habits, by monthly personal income, December 2020
Consumption Habits
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- Only two in 10 Gen Zers set spending budgets
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- Figure 34: Consumption habits, December 2020
- More Gen Z males in tier one cities in comparison have organised financial plans
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- Figure 35: Consumption habits, by selected demographics, December 2020
- High-income Gen Zers are early adopters of paid online services
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- Figure 36: Consumption habits, by monthly personal income, December 2020
Appendix – Methodology and Abbreviations
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- Methodology
- Abbreviations
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