What drives APAC Gen Zs consumer behaviour
WGSN identified five pillars that Gen Zs prioritise.
Gen Z consumers are penetrating the market with self-empowerment as the “underlying driver” for their behaviour, according to a report by WGSN.
WGSN identified “five pillars and priorities” that are unique to the Gen Z consumer behaviours in the Asia Pacific which include self-definition, intentional wellness, Pan-Asian activity, Work 3.0, and consumption and money.
“From new career aspirations to wellness as a status symbol, Gen Z consumers across the region are fundamentally changing the way they live, work and consume, with new implications for brands,” said Alison Ho, Analyst, Insight at WGSN.
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“From a creative standpoint, a slew of emerging local and regional creative collectives are recontextualising cultural relics to take neo-Asian kitsch mainstream,” she added.
For self-definition, Gen Z consumers are looking for ways to experiment and identify who they are online and offline, with 63% saying they express their identity through thoughts and opinions.
Gen Zs are also prioritising their holistic well-being as 48% feel stressed due to work or studies, and financial concerns.
These consumers are also appreciating tradition which boosts the “creative renaissance characterised by nostalgia and kitsch.”
Around 57% of the Gen Zs also attribute success to a healthy work-life balance, as they go against the typical nine-to-five work day and choose a more flexible work schedule.
WGS also said that around one in three APAC youth consider finances as part of their health and wellness, with 68% claiming they are comfortable with managing their own finances. They are exerting time and effort on financial reality to find a balance between indulgent spurges and security.