City of Firsts webinar for lessees tackles growing influence of young consumers
Araneta City, known as the City of Firsts, hosted a Zoom webinar last February 17 to discuss the impact of Generation Z, or Gen Z, on the consumer market. The event, entitled “The Gen Z Shopper” featured JP Yamsuan, Associate Director for Consumer Insights at Nielsen Philippines, who shared insights on how Araneta City’s lessees can attract the attention of this influential group.
According to Nielsen’s data, Gen Z makes up 25% of the global population and will comprise 27% of the global labor force by 2025. In the Philippines, Gen Z accounts for 30% of the entire population and is already driving 70% of family purchase decisions. As such, it is crucial for businesses to capture the attention of this sizable market.
Yamsuan discussed four key characteristics that make Gen Z unique: they are digitally connected, visual creatures, crave authenticity, and are “woke.” Their attention span is also shorter than that of previous generations, with an average of only eight seconds. To capture their attention, bite-sized media and creative marketing strategies are recommended, with a focus on platforms like TikTok, Instagram, and YouTube.
Moreover, Gen Z is socially aware and supports causes that promote social justice. They favor brands that are transparent and care about the issues they care about. Yamsuan emphasized the need for brands to embed sustainability in their endeavors and be sensitive to social issues when communicating with this demographic.
The webinar also served as a platform for Araneta City to introduce Gateway Mall 2, which will be opening soon, and the commercial hub’s marketing plans for 2023.
