2. Inclusivity is impacting brand loyalty
In the wake of Gen Z’s impact on social media, young people are influencing buying behavior like never before. And they care about inclusivity.
In fact, 48% of Generation Z are racial or ethnic minorities. Brands need to keep this in mind when marketing to younger generations. Gen Z wants to be heard, and they’re quick to praise the brands that listen.
So, which industries need to adapt the quickest? Consumers who mention inclusivity are most likely to talk about the fashion, technology, and entertainment industries. The high volume of discussion around fashion and inclusivity makes a lot of sense, as fashion is an important part of expressing your identity and personality. With 85% of Gen Z thinking about buying more gender-neutral clothing, missing out on this opportunity could make or break fashion brands.
This year, companies should prioritize inclusivity in all their activities. Otherwise, they risk getting left behind.
3. Work-life balance is a priority
From flexible working to the 4-day workweek, work-life balance has been a booming topic post-pandemic. And the stats don’t lie. People Management found that two-thirds of employees would take a pay cut for a better work-life balance. With this in mind, companies need to act fast to retain talent.
The work-life conversation is a global one. In Kenya, a new bill is set to be read in Parliament later this month, which would block employers from contacting workers after hours or on weekends. This is called the ‘right to disconnect,’ and similar laws have been implemented in Italy, Belgium, Spain, and Ireland.
Workers are forcing employers to reevaluate their processes and to respect their time away from work. Companies that ignore these trends face losing valuable employees.