Creative agency Red Brick Road and research from Opinium on the Generation Z consumer contained in the report has found that the alcohol industry “hasn’t sold its last round to young drinkers just yet” but warns that the drinks industry will have to “recalibrate how it speaks to the mindful Gen Z consumer”.
In this social media age, self-image is extremely important to Gen Z with over half (51%) saying their online image is always at the back of their minds when they go out drinking.
The 2008 financial crisis coincided with a crucial developmental stage for most Gen Zers, points out the report.
“With the global financial crisis, Brexit and era of ‘fake news’, Gen Z have steeled themselves for an unforgiving adulthood.
“They believe that to succeed in these unfavourable conditions developing security and independence is integral to their survival.”
Around 100 bar managers, some 250 18 to 30 year-olds and roughly 1,000 30 to 55 year-olds were surveyed to conclude that Gen Z is a generation that needs to feel in control.
“Many will have first-hand personal experience of the impact. Some will have seen family or friends losing their jobs. They may even have lost their own homes.
“The result is a generation that is more pragmatic, frugal (more 16-22 year-olds regularly use savings accounts than ever before).”
The just-drinks/just-food report adds, “The generation does still drink with the report highlighting that non-drinkers – estimated to be about 25% of GenZ – are still in the minority.
“Opportunities for beverage companies lie in quality non-alcoholic drinks as well as premium offerings since Gen Z may drink less but are willing to spend money on quality.”