Despite being the most significant consumer segment in the UK, Gen Z has fallen out of touch with Black Friday marketing that fails to demonstrate a company’s sustainable practices.
The latest study from the student marketing platform Student Beans found that Gen Z spends more than any other generation during the Black Friday weekend. The average 18-to-24-year old spent £298, as opposed to £251 by their parents and £206 by their grandparents. Around 63% of Gen Z consumers have been put off by traditional marketing and instead prefer brands with a “greener” image.
The study also suggests that conscious and ethical brand communications have the most impact on younger generations. In fact, young consumers are twice as likely to buy from companies that advertise sustainable incentives for purchases – like charitable donations or offsetting climate impact.
Gen Z consumers who purchase discounts products from organisations that “give back” through incentives during Black Friday increased customer satisfaction. Additionally, nine out of 10 Gen Z Britons hope to donate to charitable or sustainable causes when shopping for sales. As a result, brands like Tommy Hilfiger and Harvey Nichols are taking strides to tackle waste and emissions to help combat climate change.
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[2 minute read]