How brands can appeal to Gen Z’s desire to ‘live for today’

Key Takeaways

1. The prevailing mindset among young consumers is to “live for today”
2. Gen Zers and younger Millennials are preparing for emergencies and learning life skills, signaling a pessimism about the future
3. The implication for retailers, restaurants and brands is to determine how to message young consumers who are feeling frustrated, cash strapped, but willing to splurge. What do you have that’s worth splurging for?

As retailers, restaurants and brands seek to increase relevance with younger groups, including Gen Z, many are leaning into technology, ESG, and food/menu diversity.

While the hope that these efforts will help drive engagement with younger groups, it is important to understand that younger consumers may not find a focus on future benefits (for example, sustainability) as compelling as benefits that drive enjoyment today (for example, “buy now, pay later”).

Ipsos continues to see evidence that the prevailing mindset among Gen Z and younger Millennials is disillusionment about the future which leads to “live for today” attitudes and behaviors.

This trend was called out in Ipsos’ largest public research report ever, Global Trends. Based on more than 50,000 interviews in 50 markets across the world, representing 90% of the world’s GDP, Global Trends pulls together millions of datapoints into nine big-picture trends – including this one, which we call nouveau nihilism.

Ipsos data shows that the trend is resonates strongly with younger consumers. One example: 69% of Gen Zers agree that “the important thing is to live life today, tomorrow will take care of itself,” compared to 60% of Baby Boomers.

Is this a reflection of the carefree attitudes of youth, or a reflection of a generation that feels frustrated or fatalistic about the future? One clue might be in how many younger citizens around the world say they’re interested in learning survival skills to become more self-sufficient (76% of Gen Zers and 78% of Millennials) – perhaps in anticipation of disruptions like job loss, climate disasters, or war. Only 49% of Baby Boomers say the same.

We see confirming signals of this sentiment in recent Ipsos data, which indicates ages 18-34 are more likely to be stressed, worried, and planning for emergencies than the general population.

Yet they are also more likely to spend more this holiday season, and expect to attend more gatherings. And many somewhat surprisingly are planning to upgrade technology and buy new homes in the next 3 months.

It is clear that they are questioning why they should save for the future when the future is so uncertain. One-fifth are increasingly deferring full payment and building up credit.

The question for retailers, restaurants and brands: Do you have the products or services younger consumers would spend money on now? Not everything is on equal footing. Ages 18-34 are more likely to say they’re trying to stick to a shopping list these days, and many are expecting to cut back on streaming services, so some forms of budget control are in play.

What will appeal to this group who are feeling cash strapped and frustrated? It may not be messaging sustainability.

“One of the most intriguing things we’ve seen is consumers buying luxury goods at younger ages, spending more on splurge-worthy experiences, and leaning on ‘buy now, pay later’ for everyday goods – all of which indicate a focus on the present,” noted Jennifer Bender, Global Head of the Ipsos Trends & Foresight Practice. “At the same time, Gen Z is very clear-eyed about the systemic nature of climate change and sees why regulators, government and corporations have just as much responsibility as citizens – so sustainability may not be a top priority when viewed through this lens.”

If you want to learn more about how to activate this trend, please reach out to Jennifer Bender at [email protected].