GEN Z CONSUMERS
How Gen Z is retouching the rules of the skincare market in India
These youngsters are far more conscious of what goes on to their skin, compared to millennials and Gen X. They no longer chase basic whitening or moisturising creams. Influenced by social media, the young India have educated themselves on how each active ingredient works on their skin, even at the granular level of being aware of the exact percentage of ingredients used in products.
Winning design: As Gen Z shoppers take fancy to Indian wear, venture investors look to stitch deals
Ethnic wear brands targeting the Gen Z population and offering a variety of Indian wear products are attracting interest from venture investors, with brands like Libas and Koskii securing significant funding. The trend of young Indians wearing Indian wear to work is on the rise, with brands like Suta and Fashor experiencing growth in revenue.
Gen Z laps up ethnic fashion brands; Warburg Pincus-Whatfix deal
Happy Wednesday! Ethnic wear brands are gaining prominence among young working professionals and, in the process, attracting investor interest. This and more in today’s ETtech Morning Dispatch.
12 Lessons from Polls 2024
Lessons in governance and strategy for corporate India from the 2024 Elections and the formation of the third NDA government include the importance of competition, cooperation, feedback, communication, supply chain management, consumer knowledge, CEO dynamics, outsider directors, underdogs, and consistent performance.
Australia moves to rein in buy-now-pay-later with credit check law
BNPL companies typically offer on-the-spot interest-free short-term loans with minimal credit checks that spread payments over weeks or months and are largely used by cash-strapped people taking on debt, sometimes more than they can afford.
Why Mukesh Ambani can't ignore a new consumer habit
Reliance Industries (RIL) chairman Mukesh Ambani is expanding the company's retail empire to include quick commerce services through JioMart. This move aims to compete with players like Blinkit and BigBasket, leveraging Reliance's extensive reach and resources. The shift towards quick commerce reflects changing consumer habits, favoring convenience and instant deliveries.
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From Zendaya to Timothee Chalamet: Top 10 emerging Hollywood stars. Know about them in detail
The changing entertainment industry has propped up different stars who have managed to captivate the audience.
Samsung launches made-in-India Galaxy F55 5G smartphone
Samsung launches the Galaxy F55 5G smartphone in India, targeting the Rs 20,000-30,000 segment with premium features and a focus on product differentiation and 5G adoption.
V-Mart expects to grow 18-19% this year, says Lalit Agarwal
Lalit Agarwal, Founder & MD of V-Mart Retail, aims for 18-19% growth in a value-driven retail sector. Improved footfalls and consumer demand in smaller towns are observed. Efforts focus on providing best products, prices, and catering to Gen Z preferences. The Limeroad acquisition's impact on online burn and future scale-up plans are under scrutiny.
Parag Rao explains how HDFC Bank virtual credit card works
Parag Rao, Country Head of Payments Business at HDFC Bank, highlights growth opportunities in the credit card space with the digital ecosystem of HDFC Bank Virtual Credit Card, targeting Gen Z and millennial customers for digital empowerment.
ETMarkets Smart Talk: PSU, defence, railways & pharma could continue on multibagger run: Sunil Damania
Sunil Damania, CIO of MojoPMS, discusses how sectors like PSUs, defence, railways, and pharma. FMCG sector may excel in FY2025. Damania says: "Despite ongoing geopolitical tensions, the market seems to have adopted a selective deaf ear. The sustained rich valuations stem from optimism surrounding the Indian economy's potential and, consequently, India Inc.'s performance."
D2C space: Investments in "not my parents' brands" are #trending
Investors like Titan Capital are shifting focus to Gen Z brands, moving away from traditional brands. This trend is visible in brands such as Perfora, Wakefit, Hocco and Mokobara across various sectors, reflecting the changing consumer behaviour towards new and innovative products. The phenomenon of Gen Z consumers not using their parents' brands is visible in even sectors such as automotive and smartphones.
GenZ Indian-American running for Georgia State Senate raises over USD 280K
Ramaswami, 24, has outraised his incumbent opponent Shawn Still by 22 times in the latest filing period from Feb 1 to April 30. While Ramaswami raised over USD 146,000, his opponent raised only USD 6,400. The two are running for the State Senate in the District 48 of Georgia.
How quick commerce is rewriting the rules of retail in India
Quick commerce, or super-fast deliveries, is becoming increasingly popular among millennials and Gen Z, with companies delivering various items to doorsteps in no time. Quick commerce makes up about 5-6 per cent of a household's grocery spending, with platforms like Blinkit valued at around $13 billion. It is mostly popular in big cities but is also gaining traction in places like Vizag, Nagpur, Kochi, Jaipur, and Lucknow.
What are Gen Z’s top 3 rules for investing & what are the red flags? Pranjal Kamra explains
Pranjal Kamra warns against accumulating personal loans and credit cards, emphasizing the importance of understanding asset classes, maintaining risk control, and being debt-free to avoid financial pitfalls. Kamra also says that for a beginner, it is virtually impossible to make money in categories like crypto and F&O. Either they border on gambling or they are such complex investment instruments by nature that it is not designed for a retail investor
Buy Indian, Bye Western: Gen Z embraces the home truth
The contribution of local brands to total sales of true wireless speakers has shot up to 78% in calendar 2023, compared to 48% in 2020, due to more purchases by youngsters, according to latest numbers from Counterpoint Research. For smartwatches, the researcher said the contribution of local brands to total sales is 95% in 2023, from 38% in 2020.
Brands latch on to Snapchat lingo with Gen Z in mind
Although Instagram and YouTube remain the platforms of choice for mass digital advertising, Snapchat is increasingly becoming the social messaging app that brands are using to target Gen Z, or people in the age group of 12 to 27 years.
Mamaearth parent Honasa targets Gen Z users with cosmetic brand Staze
Honasa Consumer diversifies into colour cosmetics with Staze, targeting young consumers with affordable products. The company's strategic expansion aims to capture a share of the growing beauty market by introducing new brands and categories.
A product for all seasons? What is NPS' appeal for millennials and Gen Zers?
Kurian Jose discusses PFRDA's initiatives to attract youth to pension products through innovative features like QR code investing. The NPS rule changes offer flexibility in withdrawals and investment options, promoting early retirement planning and long-term financial security.According to Jose: "I look at the NPS as India's answer to social security."
Clear shift in skincare market as Gen Z moves away from fairness products
Fairness creams declined 3% in 2023, signaling a shift towards brightening, glow, radiance, and anti-dullness products. Hindustan Unilever Ltd (HUL) renamed its fairness cream Glow & Lovely to distance from racial injustice protests. L'Oreal and Johnson & Johnson also dropped 'white' and 'fair' from their skincare range. The overall skincare industry in India grew 9.2% in 2023.
Under pressure from trendier and cheaper rivals, Fabindia seems to be in need of refresh
An inability to win the hearts of Gen Z and millennial cohorts is posing a challenge for the six-decade-old retailer, a pioneer of sustainable sourcing and supporting artisans, amid an onslaught of competition from trendier and cheaper rivals. If socially conscious young people once swore by the brand, their children don't seem to be showing it as much love.
Gen Z consumers prefer brands with social causes: Report
The report said younger consumers favour friends' recommendations over celebrities when making purchases, with half of the consumers more likely to buy products through a friend’s recommendation, than through influencer or celebrity recommendation. This is contrary to many brand strategies that invest heavily on endorsements either through celebrities or through influencers on social media platforms.
Domino’s launches new campaign aimed at GenZ; appoints new CFO
JFL also announced the appointment of Suman Hegde as its executive vice president and chief financial officer on Tuesday. Hedge will be moving from Hindustan Unilever in her role as vice president of finance - beauty, wellbeing and personal care, South Asia. Hedge's appointment is effective from March 1, 2024
Money Plans: What’s getting Gen Z, millennials all FIREd up
“If you have invested a large sum of money for 10 years, then after the 10th or 11th year, you can ensure that equity, which is a high growth asset, can take care of passive income also. At the same time, it gives you a cushion in case of any emergencies in future. That way also you can see that retirement is seen very differently currently.”
Catch ’em young! Can brands and boardrooms get it right for India’s largest consumer set, the Gen Z?
Infosys co-founder Narayana Murthy stirred controversy by suggesting that India's youth work 70 hours a week. Gen Z, India's largest demographic, is asserting its influence across industries. Nestlé India, Amazon, and Myntra tailor offerings to Gen Z preferences. This generation, aged 15-26, fuels fast fashion, lifestyle, and beverage growth. Challenges include the need for quick trend adoption, individualistic preferences, and limited disposable incomes.
New UCLA Study Finds Gen Z Teens Want Less Sex on Screen
In a recent UCLA study, it was revealed that today's Gen Z teens are calling for a decrease in explicit content in TV and movies, with over half of them favoring narratives centered on friendships and platonic relationships.
4 myths and facts about financial planning you should know
Today on the occasion of world financial planning day (October 4, 2023) the Financial Planning Standards Board (FPSB) India released a survey report which highlights what millennial Indians and others thinks about financial planning and what is their most unmet demands which can be met with proper financial planning.
Gen Z consumers bring in the moolah for many cos
"We have seen a demand uptick of over 105% year-on-year in the first half of the year (January-June 2023) in the Gen Z fashion segment," a spokesperson for fashion platform Myntra, which has over 8.6 million Gen Z consumers, said. "We have witnessed over 550% increase in search keywords like "hot pink" and "Barbie." Social media and OTT platforms wield significant influence over Gen Z consumers," she said.
India’s middle-income consumers may drive nearly half of ecommerce growth by 2030: report
The mass section, the report said, would contribute to almost $135 billion (45%) in gross merchandise value (GMV) for ecommerce by 2030.
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