With Pinterest boasting an 80% accuracy rate on previous trends predictions, marketers are advised to take note.
3. Setting the tone for 2024 and beyond
Gen Z have the Midas touch: They can make sales soar with a tap on TikTok (see: Stanley cups and McDonald’s Grimace Shake). And though their favored aesthetic verges on retro, the future is very much in their hands.
Born between 1997 and 2012, Gen Z is the largest generation yet, and will make up 27% of the global workforce by 2025.
In 2024, young people will have a huge bearing on the U.S. election with millennial and Gen Z voters expected to account for 40% of the electorate.
However, both Democrats and Republicans will have their work cut out getting Gen Z into the booth.
A recent study from Harvard’s Institute of Politics found that the number of young Americans aged 18 to 29 who say they’ll “definitely” vote in the 2024 election has dropped from 57% to 49% since fall 2019, when the 2020 presidential election was still one year away.
When it comes to the issues that matter most away from the ballot, brands should focus their efforts on equality and sustainability, as this is a generation mindful of the products they buy, the clothes they wear, and the items they use.
According to Edelman, 73% of Gen Z consumers buy from or advocate for brands based on their beliefs and values. As marketers head into a tumultuous 2024, the enrichment and the experience they can bring to Gen Z will be worth more investment than any viral trend.
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