A report by BCG and Snapchat highlights the preferences, values, beliefs and behaviours of India's largest demographic segment, and the market opportunity it offers
India is home to 377 million Gen Z-ers, the largest cohort as per generation in the country. That’s more Gen Z-ers than the entire population of the US! As the largest generation, Gen Z is significantly reshaping consumer trends. Their distinct values and behaviours are transforming brand engagement and retail spending. While many marketers recognise this shift, their strategies tend to be reactive rather than proactive.
A report titled ‘How Gen Z is shaping the new India’, released by Boston Consulting Group (BCG) in collaboration with Snapchat on October 16, highlights how Gen Z is shaping the Indian economy and presents a $2 trillion economic opportunity by 2035.
The report includes Gen Z (born between 1997 and 2017), their parents, and millennials (born between 1981-1996), with insights from more than 3,000 respondents in metros, tier 1 to 3 cities, and is supplemented by perspectives from 30 chief marketing officers and brand managers. According to the report, one in four Gen Z-ers is already a part of the workforce and Gen Z fuels $860 billion in consumer spending, which is expected to rise to $2 trillion by 2035.
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