Gen Zers and Millennials have an immense amount of influence over the beauty industry as it is. The core values, beliefs, and habits of these demographics play a role in how they respond to a brand’s image, and impact whether or not they decide to engage with the said brand.
In the day of social media, people can share their beliefs and thoughts at the click of a button in a matter of seconds. Because of this, people have been better able to educate themselves on the subjects they were not aware of before, and be able to bring that to the attention of others. These are some of the most common beliefs among Gen Z and Millennial consumers:
1. Going Green
In a survey conducted by The Tylt, a digital media company engaging with Gen Z and Millennial audiences, customers interested in beauty and fashion will consider a variety of eco-friendly matters when it comes to making their purchase. An overwhelming 92.5% of participants stated that they would be willing to go out of their way to follow eco-friendly consumer habits, and 78.9% noted that they believe it’s possible to have a zero-waste lifestyle. A little more than half of the participants in the survey say they prefer sustainable products, especially in fashion. Additionally, in a study conducted by “Composed”, 75% of Gen Z and Millennial consumers prefer brands that “offset their environmental impact”, and about 85% of these consumers consider how a product is sourced and its impact on the environment, even if it isn’t their driving factor when making a purchase.
2. Social Awareness
Aside from paying more attention to the Earth and all her needs, these younger demographics are also invested in inclusivity in the brands they look up to. Lately, the beauty industry has been expanding to be inclusive of men interested in beauty as well, enlisting male influencers to promote skincare and makeup products.
Not only that, but Gen Zers in particular have been pushing for “allclusivity”, meaning that anybody, regardless of race, gender, sexuality, or ability should be able to freely express themselves outwardly, and companies are responding. Beauty companies like Sephora host classes that help transgender and non-binary people learn makeup application techniques, and cosmetic brands have expanded their range in shades of foundation.
3. Establishing Brand Loyalty
Being green and eco-friendly as well as politically and socially aware of your company’s representatives in diversity is greatly important in today’s economy. To further the success of our brand, establishing loyalty is key. After conducting a survey of 500 Gen Z and Millennial consumers, “Composed” found these key elements in establishing a bond between the consumer and brand:
- 56% of respondents said their primary purchasing factor is price
- 80% of shoppers prefer brands that give back
- 90% of shoppers will pay more for a product that delivers results
- 20% of Gen Z/Millennial consumers will lose interest in a brand if its Instagram doesn’t appeal to them
- 70% of women will consistently shop for the same brands, and 9/10 respondents buy the same products about half the time.
It’s important to consider and implement these factors into developing a product or brand identity. Being environmentally friendly, socially aware, and establishing a reason for loyalty are the main driving factors when it comes to creating appeal for younger audiences.