Australia’s generation z are willing to pay more for brands that try to have a positive impact on society.
Born between 1997 and 2012, Gen Z is the world’s largest generation cohort, accounting for one third of the global population. In Australia, 4.6 million Gen Z make up around 20% of inhabitants. With the fastest growing disposable income of all generations, brands cannot afford to ignore this post-Millennial generation; in fact, the future of our profits – and more importantly our planet – depends on them.
You need them on your side!
In March this year, students in Australia converged on the prime minister’s official residence to demand action against climate change. Sustainability in all its forms is a topic close to the hearts of this young generation, in fact, our latest study* showed how 40% of Gen Z in Australia say that global warming and climate change keeps them up at night.
Gen Z’s passion for activism also comes to the fore when making purchase decisions. This cohort is willing to pay more for brands that try to have a positive impact on society (63%) or run their business in a sustainable way (57%), whilst 39% refuse to buy from non-sustainable brands.
This generation care about people as well as planet, with their main concerns including social inequality (37%), racism (35%) and the suppression and abuse of women (20%). 68% of Gen Z in Australia say that they value brands that care about their employees and 59% believe that brands should help people to live a better life.
Support their mission
In an effort to shape a better future for themselves and others, Gen Z in Australia are willing to collaborate with brands. They feel it is acceptable for social-media sites and brands to use personal data to develop better products and services (46%) and service consumers better (42%). Meanwhile, 41% are willing to exchange some personal data for free services, discounts, or goodies.
The role of brands is more versatile than ever: as life coaches, as drivers of change and innovation, and as a means for Gen Z to express themselves. More than ever, brands have to stand for something meaningful and put that into practice. Mental health app HeadSpace Australia recently launched the campaign ‘Take a Step’, aimed at supporting the mental health of Aboriginal and Torres Strait Islander youth.
Ready to find out more about Gen Z in Australia? Download your free copy of our ‘Ready for the Zoomers Australia’ report to learn more about this key generation and their expectations towards brands.
* We surveyed 1,075 consumers in Australia between January-February 2022: 458 Gen Z, 212 Gen Y, 194 Gen X and 211 baby boomers.