Gen Z consumers: The rise of trust and purpose

Anson Bailey
Head of Consumer & Retail
ASPAC and Head of Technology
Media & Telecoms
Hong Kong, KPMG

What advice could you give to strata-titled malls?
I would say that Covid-19 has accelerated everything digital and has disrupted those mall operators significantly. The stormy seas will continue since consumer expectations are very high and they are expecting a more immersive retail experience in the future……we have seen those department stores already close down and if you don’t change your product +service offering…..then you are at serious risk! We are now seeing more virtual storefronts with more collaboration between those traditional retailers and ecommerce platforms
Can we expect gen Z consumers to demand the same transparency on low price FMCG as on more expense purchases?
Yes….I think this is the new normal since those consumers now have access to so much data and they will hold all the FMCG brands +retailers accountable for their actions as the voices grow louder about the need for more sustainable products and supply chains with the focus on hitting those net-zero goals by 2030