Luxury Brands Embrace Gen Z: Strategies for Attracting the Digital Natives (2024)

FAQs

Why luxury brands should target Gen Z? ›

A very high standard of behaviour and authenticity

Gen Z's purchasing behaviour is also centred on the values at the centre of each member's identity. Whether principles of diversity and inclusion or sustainability, younger buyers expect their values to be reflected in the brands they engage with.

Gen Zers usually watch videos and engage with influencer content creations to find new products and brands. Gen Z shoppers are more likely to discover new items directly on brand websites than older shoppers, but less likely to find products via third-party retail websites and apps.

As the first real digital natives, Gen Zers—speaking generally—are extremely online. Gen Zers are known for working, shopping, dating, and making friends online; in Asia, Gen Zers spend six or more hours per day on their phones.

Authenticity and Individuality:

Generation Z values authenticity and individuality in their fashion choices. They seek brands that align with their personal values and beliefs, preferring unique and unconventional styles over traditional trends.

Gen Z consumers are mostly well educated about brands and the realities behind them. When they are not, they know how to access information and develop a point of view quickly. If a brand advertises diversity but lacks diversity within its own ranks, for example, that contradiction will be noticed.

With an increasing proportion of employees taking early retirement, the importance of attracting, engaging and retaining Gen Z talent has never been clearer. Generation Z shows a drive to learn and develop new skills, making them essential to pick up from where the baby boomers are leaving off.

Foster a Culture of Diversity, Equity and Inclusion

The most diverse generation to date, Gen Z values diversity, equity and inclusion in the workplace. Companies with diverse representation in leadership are likely to be more successful in attracting and retaining Gen Z talent.

Gen Z's standout priorities for 2024 are centered around self-enrichment: things like starting new jobs, learning new skills, reading more, or finding love.

As he said: “Digital Natives are used to receiving information really fast. They like to parallel process and multi-task. They prefer their graphics before their text … They prefer random access (like hypertext).

Who called Gen Z digital natives? ›

The term 'digital native' was first used in 2001 by Marc Prensky, an American writer and speaker who also coined the term 'digital immigrant'.

Digital natives refer primarily to millennials and the subsequent generation of individuals who have grown up completely surrounded by computers, tablets, gaming consoles, smartphones and other digital devices and who have readily accepted the use of these technologies as an integral part of daily life.

With Gen Z, it's all about providing an experience that they enjoy. That's why most of the successful marketing campaigns of our time (and going into the future) are more about experiencing the product. This approach is contrary to traditional marketing methods that relied more on informational campaigns.

Luxury brands target high-net-worth individuals (HNWI) and aspirational consumers who are willing to pay a premium to own exclusive, high-quality products.

“The perception is Millennials are all about the experiences, but they are the generation spending most on status luxury goods.”

A brand's story, values and ethical practices wield greater influence than aesthetics or branding. Gen Z consumers are discerning; they seek authenticity not only in what they buy but also in the principles the product or service aligns with.

It is proven that social media influencer, sustainability value, brand collaboration, hedonic value, and price quality value significantly affect the Generation Z attitudes towards buying luxury fashion products.