New study shows that Gen Z will strengthen sustainability trend

March 22, 2019 0 By HearthstoneYarns

As Gen Z is expected to become the largest consumer market by 2020,
their buying choices are beginning to affect the market. According to
a report by CASSANDRA, ninety-three percent of parents say their
children influence household purchases, showing that Gen Z’s spending
habits are already making an impact. Though the exact age range of
Generation Z is up to debate, what is clear is that the generation is
unique in that the majority of its members have known the internet
since a young age. Most sources agree that Gen Z encompasses those
born after 1995 and sometime before 2009 through 2014.

GreenMatch, an online service set to link consumers with green
energy products, has created an infographic to explore the importance
of sustainability to Gen Z consumers. “Generation Z is continuing the
trend set by millennials in choosing to spend more money on goods from
sustainable or ethical companies,” the report stated.

According to GreenMatch’s findings, 72 percent of Gen Z would spend
more money on a service it was sustainably produced. The study shows
that Gen Z isn’t as concerned with brand loyalty as their millennial
predecessors. Rather, Gen Z will actively seek out sustainable
products as their loyalty lies more within values. Like millennials,
however, Gen Z has a strong preference to switching to brands who take
sustainable initiatives, and those values are more important to Gen Z
than cost. Furthermore, GreenMatch’s findings show that Gen Z is more
willing to boycott companies who do not meet their values.

The study concluded, “The buying habits of Gen Z have yet to be
fully discovered, but it is clear that the next generation will change
the business landscape through greater consumer activism than past
generations.”