An article created by McKinsey titled: Meet Generation Z: Shaping the future of shopping, highlighted the shift in values felt by Generation Z. While previous generations have talked about values and sustainability, with Generation Z, there seems to be an authentic effort to breathe new life into corporate responsibility.
Who is Generation Z?
Gen Zers are customers born roughly between the mid-1990s and early 2010s. Some of the specific preferences that they value in jewelry include:
- Sustainability: Gen Z customers are known for being environmentally conscious and socially responsible. They care about sustainable practices in the jewelry industry, such as ethically sourced materials, responsible mining, and eco-friendly production methods. B Corp certified brands are good examples of sustainable fashion brands. Examples of B Corp certified fashion brands include: Patagonia, Allbirds, Bombas, and Tentree.
- Personalization: Gen Z tends to value individuality and self-expression. Customizable jewelry options, such as personalized engravings or designs, resonate well with this generation.
- Minimalism: While statement jewelry can still have its place, many Gen Z customers prefer minimalistic and dainty pieces that can be layered or mixed-and-matched to suit different styles.
- Authenticity and Storytelling: Jewelry with a unique story or meaning behind it is appealing to Gen Z. They appreciate items that connect to their personal experiences or reflect their values.
- Technology Integration: Gen Z is the first generation to grow up with technology at their fingertips. They may be interested in jewelry that incorporates technology, such as smart jewelry or pieces that interact with smartphones or wearable devices.
- Affordable Luxury: As a generation that has witnessed economic challenges, Gen Z often seeks value for money. Brands offering high-quality jewelry at accessible price points are likely to be favored.
- Brand Values: Gen Z customers are more likely to support brands that align with their social and environmental values. They tend to research and choose companies that demonstrate a commitment to causes they care about.
- Social Media Appeal: Gen Z is heavily influenced by social media. Jewelry that is aesthetically pleasing and Instagram-worthy can attract their attention and interest.
- Inclusivity and Diversity: Gen Z is diverse and inclusive, and they appreciate brands that celebrate different cultures and body types in their jewelry marketing and designs.
- Online Shopping: Gen Z is highly tech-savvy and accustomed to shopping online. Jewelry brands need to have a strong online presence, offer a seamless digital shopping experience, and provide transparent information about their products.
It's essential for any jewelry business to keep evolving and adapting to changing consumer preferences. As time progresses, Gen Z's preferences may continue to evolve, and understanding these evolving trends will be crucial for jewelry brands to stay relevant to this demographic