Rise of the purpose-driven consumer
The Future. Gen Z habits and values are changing the way we consume products. Consumers are prioritizing sustainability, ethics, and purchasing with purpose in mind. As the younger generation’s direct and indirect spending power eclipses a staggering $143 billion, brands across the world will have to take note… or risk getting left behind.
A new consumer
Gen Z is driving the rise of the purposeful consumer.
- A new report from Razorfish and Vice Media Group found that over 82% of consumers make purchase decisions with purpose in mind.
- 76% state that brands they support should stand for a greater mission or have a higher purpose.
- 70% of consumers say it’s important or extremely important for brands to give back to their local community.
An overwhelming number of younger consumers buy based on purpose rather than price, picking products that are ethical, sustainable, and authentic. They opt for clean and sustainable foods and champion inclusivity… and they want the brands they buy to reflect those same values back at them.
But, beware of “purpose-washing,” a term used to describe companies who seem to be prioritizing purpose but don’t authentically put it into practice. Gen Z are savvy digital natives and can see through brands that miss the mark.