look news india
Role of Gen Z on consumption trends: India's Generation Z (Gen Z) is playing a major role in changing traditional business models. From grocery delivery within just 10 minutes to direct-to-brand, this generation has the highest share of youth from Generation Z or GenZ born between 1996 and 2010. This information has come to light in a Bernstein report. Whether it is shopping or dating apps, this generation likes to 'swipe, up'.
Generation Z accounts for 27 percent of India's population
20 percent of the world's generation z population lives in India. 27 percent of India's total population is Generation Z. Be it shopping on social media, booking rickshaw-bike-taxi or ordering food online, this generation is at the forefront. New age digital-first brands are seeing growth in the market due to this generation spending more time on mobile phones.
Generation Z prefers digital shopping
According to the report, Generation Z spends 4.7 hours per day on mobile. Of these, 73 percent have turned to digital shopping instead of traditional retail shopping. Most of them spend 1.6 hours a week on online shopping sites. The first choice of millennials (born between 1981-1996) is e-commerce and multiplexes. The preferences of Generation Z are quick commerce, food delivery and data-driven brands.
30 to 35 percent of traffic on online brands is from Generation Z
Generation Z accounts for 30 to 35 percent of the total traffic of digital-first brands, which are brands that are available only online. These companies are succeeding in attracting this generation through reels on Instagram and shots on YouTube. Some companies are benefiting from the shopping trends of Generation Z. This includes companies that target digital first and a large consumer base.