Grasping the consumption pulse of generation Z is one of the top priorities of today’s consumer goods companies.
This group of people born from 1995 to 2009 accounted for 15% of China’s total population ① and supported a 4 trillion consumer market ②. As “network aborigines”, they are surrounded by countless information flows every day, and gradually show an extremely complex and contradictory consumption concept: they are easy to grow grass and be vigilant about marketing, “wild orders” are also careful and seek circle recognition, but they also emphasize personal style, pursue social value and pay attention to self experience
Facing the stingy and generous, rational and fanatical, lonely and lively generation Z consumers, how can the brand hit these seemingly contradictory group labels? How to create a product that is really favored by young people?
Based on this, Cbndata (first financial business data center) jointly released the “2021gen-z favorite products list” with yiyouth (Yingyang workshop) (hereinafter referred to as the list), trying to restore today’s young people’s lifestyle, consumption view and emotional attitude towards the brand. Through big data insight, public opinion analysis and marketing observation, we selected the past year from the three dimensions of product sales, social public opinion and product marketing around the three tracks of food and beverage, skin care and makeup in the field of consumption (November 2020 October 2021) the most popular heart water goodies of generation Z pick, and based on their performance in each subdivision index in the three dimensions, the final list is obtained through comprehensive consideration.
A total of 45 breakdown product lists were produced in this selection, with a total of 438 products, including 199 food and beverage products, 159 makeup products and 80 skin care products.
We found that generation Z has a more unique preference and understanding for consumer goods.
They are generous to pick domestic products. There are 294 domestic products in the list, almost twice the number of non domestic products. Domestic products have the most obvious advantages in the food and beverage track, and the number of products on the list accounts for 80%. In the cosmetics and skin care track, the advantages of domestic brands and overseas brands are basically the same.
In the context of highly transparent information, generation Z has gradually returned to pragmatism and attached importance to cost performance. It has become their consensus to “spend the least money to buy the best products”. Such Z generation has become their new favorite with such skin care concepts as “early C, late a” and “nourishing skin with oil”.
They attach importance to the enjoyment of the present, cherish the enjoyment of the mouth, and place orders for halogen and spicy snacks; They have high expectations for health, but their health self-assessment scores are significantly lower than those of other generations. They also bring plant milk, bubble water, healthier rice food and younger health products. The demand of generation Z for the healthy upgrading of rice is so urgent that it gave birth to the germ protobud nutritional rice represented by yingwubai, konjac rice represented by Mint health, and functional rice represented by yirengu and sunflower sunshine.
We also found that generation Z’s uncompromising attitude towards convenience, high quality and a sense of ceremony in daily life has given birth to a number of new fast-food species with “internal and external cultivation”: instant pasta, self heating hot pot, ear hanging coffee, cold extract coffee… At the moment of fast-paced life, it has become the consistent pursuit of brands to enable young people to make a cup of coffee and make a meal gracefully at home.
