Black Gen Z consumers are a segment with great potential in the marketplace. Confidence and self-expression present as important issues for this cohort, and now is the time to act on this as a brand. With this report, you’ll understand how to effectively address these issues while marketing to Black Gen Z consumers.
Below, we’ve summarised the key areas covered and offer handpicked insights from our independent research.
Key Areas Covered
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- Life satisfaction and current outlook.
- Expected achievements by age 30 and long-term goals.
- Current priorities and stressors.
- Self-confidence and attitudes towards achieving future goals.
Gen Z Consumer Overview
With Gen Z nearing 60 million in the US, this diverse group is maturing into a strong base of consumers. Currently in the age range of 13-26 (2023), Gen Z are not the prime target for most stakeholders. Yet, they have a huge impact on the trajectory of society.
Black Gen Z Consumer Trends
- Home ownership is a top priority for Black Gen Z. 65% expect to buy a home by the time they turn 30, indicating that this group see home ownership as a sign of financial status and stability. Education on how to build credit over the years will help this group say “yes to the address” and achieve their goals.
- Black Gen Zs are softer on confidence and less likely to feel in control of their lives. However, success is more important to this cohort than to older generations. With financial uncertainty making future goals feel less attainable, brands can help Black Gen Zs regain a sense of control over their day-to-day lives.
- Black Gen Z consumers are more likely to see hard work as the way to success. This means more pressure to work more jobs after feeling like they need to make up lost ground since the pandemic. Lost jobs/opportunities amount to explaining why Black Gen Zs are feeling less content than older generations.
Marketing to Black Gen Z: What Brands Can Do Now
- Brands that celebrate Black Gen Z’s individual style could be a step forward in helping them boost their confidence in these uncertain times. As Black consumers have traditionally used their appearance as a way to defy social norms and elevate their cultural identity, rolling out new products and experiences that promote this can help them feel more confident, and so, more engaged.
- With 85% of Black Gen Zs trusting their parents’ advice (from our Marketing to Gen Z Report), marketers have an opportunity to help them feel more secure in their life trajectory, through their parents. Brands that can help to highlight the importance of parents may see increased engagement from this demographic.
With this report, you can understand Black Gen Z consumers and the pain points that brands have the opportunity to address. Looking for something else? Browse our extensive library of Consumer Lifestyles, Marketing and Promotion Research.
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Expert Analysis
This report, written by leading multicultural insights analyst Courtney Rominiyi, delivers an in-depth analysis of how to effectively understand and market to Black Gen Z.
For Black Gen Zs, the sentiment towards the future is that it’s going to be a hard, bumpy ride. Being focused on establishing careers, they’re aiming high and targeting homeownership – a visible sign of financial security. They’ll need help getting there given their lifestage, but beyond that, because they feel like they’re starting from behind. Naturally, this is all taking a toll on their mental health and elevating a feeling of stress and anxiety. They need practical support to gain back a sense of control over their lives right now, as well as practical tools to help them attain their future goals – both on a personal and financial level.
Courtney Rominiyi
Multicultural Consumer Insights Analyst
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Overview
- What you need to know
- This Report looks at the following areas
- Definition
- Market context
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Executive Summary
- Top takeaways
- Consumer trends
- A lack of stability leads to less contentment and lower life satisfaction
- Figure 1: Overall satisfaction with life, Gen Z vs overall, 2023
- Home ownership is a top priority for Black Gen Zs
- Figure 2: Expected achievements by age 30, Gen Z, 2023
- Establishing a career is a top priority, financial situation is a top source of stress
- Figure 3: Top areas of stress right now, Gen Z vs overall, 2023
- They believe in hard work though feel as though they’re starting from behind
- Figure 4: Attitudes towards achieving future success and perceived impact of the pandemic (agree), Gen Z vs overall, 2023
- Self-confidence is soft and being seen as successful matters
- Figure 5: Projecting success and feeling in control (agree), Gen Z vs overall, 2023
- Opportunities and Strategies
- Help Gen Z look and feel the part to build self-confidence and possibly gain a sense of control
- Helping them gain control of their finances and build credit to turn goals into reality
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Gen Z by the Numbers
- Gen Z population is large and diverse
- Figure 6: US population by generation, 2018-28
- Figure 7: Distribution of generations, by race and Hispanic origin, 2023
- Nearly 30% of Black consumers earn less than $25K annually
- Figure 8: Household income distribution, by race and Hispanic origin of householder, 2020
- Gen Z population is large and diverse
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Market Factors
- Black Gen Z and Millennials are heavily influenced by social media marketing
- Figure 9: Social media purchases made, Millennial vs Gen z, 2022
- Gen Zs are more modest with credit card spending due to inflation
- Figure 10: Willingness to use more credit, by generation, 2022
- Uncertainty is taking a toll on mental wellness, particularly for younger consumers
- Black Gen Z and Millennials are heavily influenced by social media marketing
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Black Gen Z – Fast Facts
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Life Satisfaction and Current Outlook
- Less perceived stability leads to lower life satisfaction amongst Black Gen Zs
- Figure 11: Overall satisfaction with life, Gen Z vs overall, 2023
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- Figure 12: Sentiment towards life right now, Gen Z vs overall, 2023
- Affirm parents’ expertise and ability to help Gen Z adults feel more grounded
- Figure 13: Proctor & Gamble Love Leads to Good: P&G #LeadWithLove| Olympic Games Tokyo 2020
- Anxiety and frustration detract from life satisfaction amongst Black Gen Z women
- Figure 14: Overall satisfaction with life, Gen Z women vs Gen Z men, 2023
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- Figure 15: Sentiment towards life right now, Gen Z women vs Gen Z men, 2023
- Encourage real training for job and life skills
- Less perceived stability leads to lower life satisfaction amongst Black Gen Zs
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Expected Achievements by 30
- Black Gen Zs are targeting homeownership by 30
- Figure 16: Expected achievements by age 30, Gen Z, 2023
- Helping them gain control of their finances and learn how to leverage resources to build their credit to turn goals into reality
- Figure 17: Discover Card Campaign, 2023
- Creating a stable life is a priority for Gen Z women
- Figure 18: Expected achievements by age 30, Gen Z women vs Gen Z men, 2023
- Black Gen Zs are targeting homeownership by 30
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Current Priorities and Stressors
- Establishing a career and attaining financial stability are top of mind
- Figure 19: Top priorities right now, Gen Z vs overall, 2023
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- Figure 20: Top areas of stress right now, Gen Z vs overall, 2023
- Tapping into a sense of community will count
- Give Gen Z control through guided learning: Spotlight on Realworld
- Figure 21: Realworld Instagram post, 2022
- Black Gen Z women are prioritizing both professional and personal lives
- Figure 22: Top priorities right now – Career/job and family life/family relationships (any rank), Gen Z women vs Gen Z men, 2023
- Figure 23: Top areas of stress right now, Gen Z vs overall, 2023
- Tools that help them strike a balance will resonate
- Create a resource hub for all your important life resources: Spotlight on Stippl
- Figure 24: Stippl Instagram, 2023
- Establishing a career and attaining financial stability are top of mind
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Self-Confidence and Attitudes toward Achieving Future Success
- Mental wellness support is necessary, as Gen Zs are softer on self-confidence and feeling in control
- Figure 25: Projecting success and feeling in control (agree), Gen Z vs overall, 2023
- Help accentuate and celebrate their individual style to boost confidence
- Help Gen Z look and feel the part: spotlight on Polo Ralph Lauren and the Morehouse and Spelman Colleges collection
- Figure 26: Spelman College Instagram, 2023
- Encourage mental wellness through social media breaks: spotlight on LUSH
- Figure 27: LUSH Cosmetics Instagram, 2023
- Gen Zs believe in hard work and are feeling behind due to the pandemic
- Figure 28: Attitudes towards achieving future success and perceived impact of the pandemic (agree), Gen Z vs overall, 2023
- Gen Z women are much less likely to feel in control
- Figure 29: Projecting success and feeling in control (agree), Gen Z women vs Gen Z men, 2023
- Mental wellness support is necessary, as Gen Zs are softer on self-confidence and feeling in control
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Appendix – Data Sources and Abbreviations
- Data sources
- Consumer survey data
- Abbreviations and terms
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