Being purpose-driven can attract Gen Z

New Ideas in MarketingEssential news for marketers, summarised by YouGov
June 09, 2021, 10:28 AM GMT+0

Corporations need to be aggressive and visible while addressing social challenges, as per Gen Z adults surveyed by Cubist Martini.

Operating with an authentic sense of purpose attracts consumers and retains Gen Z employees, as brands achieve a “double bottom line” of both financial and social impacts. According to the report, 65% of Gen Z will spend 48% more on an average for products from a purpose-driven business.

Further, 49% Gen Z will work for a purpose-driven company for a 20% lower salary on average. Four out 10 are willing to pay and also accept less salary to work for a purpose-driven company.

When asked about the importance of corporations being aggressive and visible in addressing important challenges, 39% say it’s “very important”, followed by “extremely important” (24%). Further, 24% of Gen Z trust small businesses “a great deal” to address societal challenges.

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