A report by Deloitte is based on 13,400 millennials across 42 countries and over 3,000 Gen Z consumers across ten countries.
The report found that 42% of millennials have begun or “deepened” their relationship with a brand that they believe is positively impacting the society or environment. Alternatively, 37% have also stopped or reduced their relationship with a business due to the company’s behaviour.
The top concerns of the respondents are climate and environmental issues. But, they place “little trust” in a company's role in the improvement of these issues.
Both Gen Z and millennial cohorts are disillusioned with the use of their data and expressed a lack of faith in mass media and traditional societal institutions. 59% of Gen Z consumers and 60% of millennials noted that if they spent less time on social media, they would be happier.
[3 minute read]