Why are brands going to such an effort to address gen Z now?
Currently aged 16-25, generation Z will be China’s dominant consumers in the coming decade as their influence and purchasing power continues to upend traditional markets. Many global brands are realizing that their target market demographics in China are radically different to that of the west, necessitating a radically different marketing approach. In BMW’s case, Chinese luxury car owners are on average ten years younger than their US equivalents, and as of 2019 account for 30% of the country’s car ownership. BMW’s innovative campaign with Yi Yang Qinxi is a textbook example of brand rejuvenation in China done right, generating enormous engagement across social media platforms and boosting orders for new BMW cars from this generation of consumers.
Source : https://www.thedrum.com/opinion/2021/10/25/brand-rejuvenation-presenting-yourself-the-next-generation-chinese-customers152