Consumer, lifestyle, and product design trend forecaster, WGSN, has launched a new report that highlights its findings around the five pillars and priorities specific to Gen-Z consumer behaviors in Asia-Pacific, amid what it describes as “a creative renaissance and an upheaval of traditional norms” this year and beyond.
According to their findings, as the region’s Gen Z comes of age, they are shifting to deeper and more meaningful routes of self-definition and self-care, and embracing Pan-Asian creativity.
“The underlying driver for Gen Z behaviour in APAC is self-empowerment,” said Alison Ho, Analyst, Insight, WGSN.
“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.”
She adds that “From a creative standpoint, a slew of emerging local and regional creative collectives are recontextualising cultural relics to take neo-Asian kitsch mainstream.”
According to McKinsey research, Gen Z will make up a quarter of APAC’s population by 2025. With this huge consumer base it’s important for brands to tailor their strategies for the demographic’s consumption behaviors to tap into a market with significant spending power
The five priorities and pillars driving Gen Z behaviors
WGSN released the following summary of its findings
In an age of hyper-charged, transcultural poly-selves, Gen Zs in APAC are more empowered than ever, increasingly finding new ways to experiment and define who they are on- and offline. More than six in 10 (63%) Asian youths say they express their identity through thoughts and opinions.
Gen Z are taking charge of their holistic well-being, from new wellness rituals to embracing their inner kidults. Nearly half (48%) of Gen Zs in APAC feel stressed, driven by pressures from work/studies (46%) and financial concerns (44%).
In APAC, a newfound appreciation for tradition is driving a creative renaissance characterised by nostalgia and kitsch.
Gen Z consumers are pushing back against typical nine-to-five workday norms by prioritising themselves, as well as finding new aspirations and fluid ways of working. Nearly six in 10 (57%) APAC youths define success as a healthy work-life balance.
Consumption and money:
One in three youths in APAC consider finances to be part of their overall health and wellness. They’re investing time and effort in their own financial literacy as they learn how to balance indulgent splurges with long-term financial security. Almost seven in 10 (68%) APAC youths report being comfortable with managing their own finances.
“As forecasted in our annual flagship Asia Shopper Forecast 2023 report, younger consumers, who grew up amid the aftershocks of the global financial crisis as well as economic optimism and rising income levels, are taking control of their finances and actively learning how to create micro-moments of indulgence on a limited budget,” added Ho.
This article ran earlier this year and has been republished.