London, UK -- (SBWIRE) -- 10/11/2022 -- The latest analysis report titled Generation Z in Consumer Goods – Thematic Research estimates the market to be driven by the popularity of online shopping and the rise in e-commerce sales. As per the report, the e-commerce sales of consumer goods are valued worth USD 354.75 billion in 2022. The analysts at GlobalData Plc also expect the market to garner a CAGR of over 9% during 2022-2026.
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Key Market Players Covered in the Report
GlobalData highlights publicly listed and private companies that are making their mark within the Generation Z theme in the consumer goods industry.
- Alibaba: Chinese e-commerce and technology provider Alibaba is extremely popular among Gen Z consumers with their passion for shopping online. This is the world's biggest online commerce company and has products ranging from vehicle accessories to luxury handbags.
- Coca-cola: Global non-alcoholic beverages company Coca-Cola offers a large range of products that are aimed at attracting Gen Z consumers. From a multitude of brands under the Coca-Cola Co franchise, they offer drinks with energy-boosting properties to bottled water so that the consumer has a choice.
- Heineken: Heineken has released a non-alcoholic alternative to their classic alcoholic drink. This appeals to Gen Z as they place less emphasis on 'drinking culture' and focus more on their health and the effects alcohol will have on them.
- Hershey: Worldwide chocolate and confectionary company Hershey has appealed greatly to Gen Z despite their focus on unhealthy snacks. However, Hershey has branched into the healthy snacks and gluten-free sector which has been hugely beneficial in gaining more consumer interest.
- L'Oreal: Beauty and skincare giant L'Oréal has implemented strategies and products that have engaged younger consumers for years. With Gen Z having an increased focus and partiality towards skincare products, the company has formulated a wide range of these products for all skin types with various needs.
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- McDonalD's: American fast-food chain McDonald's is a huge player for Gen Z. The combination of low prices and on-the-go style consumption for their meals has allowed flexibility in Gen Z's lifestyles. To attract these consumers further, in 2021, McDonald's launched a new campaign in Singapore named "Night-In", which reflects on the new type of lifestyle that Gen Z has been conforming to more regularly instead of a night out.
- Mondelez International: World-renowned Mondelez has engaged with Gen Z consumers through its online presence and marketing. They have acknowledged that digitalization and personalized marketing are extremely successful and attractive to Gen Z.
- PepsiCo: U.S based food and beverages company PepsiCo have continued to thrive despite a rise in health concerns and wellness-oriented Gen Z. With a multitude of brands under the PepsiCo Inc umbrella, masses of consumers indulge in their products on a regular basis.
- Restaurant Brands International: Restaurant Brands International Inc is one of the world's largest quick-service restaurant companies. They have resonated hugely with Gen Z as their sustainability targets/credentials have reached and are ambitious for such a huge player in the sector.
- Starbucks: American multinational chain of coffee houses Starbucks has thrived over the years with younger generations thanks to their new innovations and convenience properties. Starbucks has continually released new innovations of coffee-based beverages, those that are seasonal and for all year round with new flavors that appeal to Gen Z.
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Prominent Market Trends
The main trends shaping the Gen Z in Consumer Goods theme over the next 12 to 24 months are shown below. We classify these trends into two categories:
Technology trends
- Online shopping
- Abundance of information
- Social media
- Targeted marketing
Macroeconomic trends
- Economic impact of COVID-19
- The future of work
- Impulse purchases
- Ethical consumerism
- Conscious spending
- Premiumization and personalization
- Plant-based consumption
- Focus on mental health
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About GlobalData
GlobalData is a leading provider of data, analytics, and insights on the world's largest industries. As a leading information services company, thousands of clients rely on GlobalData for trusted, timely, and actionable intelligence. Our mission is to help our clientele ranging from professionals within corporations, financial institutions, professional services, and government agencies to decode the future and profit from faster, more informed decisions. Continuously enriching 50+ terabytes of unique data and leveraging the collective expertise of over 2,000 in-house industry analysts, data scientists, and journalists, as well as a global community of industry professionals, we aim to provide decision-makers with timely, actionable insights.
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