Gen Z's spending worldwide is estimated to tally US$9 trillion by 2034, higher than any other generational group.
In Thailand, the Gen Z cohort, defined as people born between 1997 and 2012, values affordability, accessibility, affinity, authenticity and accountability as key brand attributes, according to a joint survey by market researcher Intage (Thailand) and marketing website BrandBuffet.
"By 2040, the number of Gen Z worldwide will surpass Gen X, which is their parents' generation," said Dangjaithawin Anantachai, chairman of Intage (Thailand) and a committee member of the Marketing Association of Thailand.
Gen Z values diversity, equality and inclusivity and demands authenticity from brands.
To connect with them, brands must seamlessly fit into a casual, community-driven lifestyle and deliver a fluid, mobile-first experience that is essential for engagement.
Ms Dangjaithawin said Gen Z can accelerate the new "S economy" -- this refers to 'solo', 'sustainable', 'scepticism', 'skills gap' and 'social relationship management' (SRM).
The solo economy offers new business opportunities as members of Gen Z raise pets as a family member, often referred to as "pet humanisation".
The local pet food market was worth 44.6 billion baht while the value of the pet care market stood at 6.6 billion baht in 2024.
The pet humanisation trend generates average spending of 41,100 baht per animal per year on food, health and toys.
When evaluating properties, Gen Z also considers homes that are pet friendly. This generation has the ability to be shoppers who can influence their Gen X parents and peers.
This generation also cares about sustainability. Brands that can prove they are responsible when it comes to the climate change issue will benefit and gain favour with members of Gen Z, Ms Dangjaithawin said.
Moreover, brands need to go beyond customer relationship management to social relationship management (SRM) by creating trust and drive ecosystems in which brands and consumers co-exist meaningfully.
Brands that master SRM move beyond transactions to relationships, from customers to community members, and from selling to sharing values.
The survey, which included over 2,000 respondents, representing members of Gen Z in Thailand, found that to attract Gen Z, marketers need to use SATI marketing.
SATI stands for Segmentation of One, Authentic Proposition, Trend Sensing and Impact.
Segmentation of One is categorising users by seeing them as humans, not just consumers.
Authentic proposition means creating brand value that resonates with Gen Z, without losing your brand positioning.
Trend Sensing means staying well-rounded and ahead of trends, rather than simply copying them.
Impact means creating marketing that truly touches the heart.