Opening the next chapter in marketing with young consumers
Lawrence Chia
Chairman, Pico Group

By 2025, millennials and Gen Z will comprise half of the population in Asia-Pacific region and begin to dominate the mainstream consumer market. Being digital natives, these audiences prioritise ‘immersive’ and ‘diverse’ experiences in events. Marketing and events will change dramatically as they strive to capture their attention and win their loyalty. But exactly how will this happen?

As research shows that more than 60% of Gen Z and millennials identify themselves as ‘gamers’, gamification may be an effective way to reach them, as well as bringing them freshness and intimacy. Indeed, last year Louis Vuitton launched ‘LOUIS: THE GAME’, in which players could play as the brand’s mascot in various adventures. Along the way, they could collect fashion items, read brand stories and perhaps win NFT artworks. By bringing gamification into the activity, the brand successfully aroused the interest of younger participants.

Young people were also a major target audience when Pico was entrusted to deliver ‘Hydeout: The Prelude’, a digital music and entertainment platform. Featuring advanced technologies, the result was a proto-metaverse in which audiences could watch virtual 3D performances, interact with others and play games with custom avatars. Such tailor-made events provide young audiences with an immersive experience that unites online communities.

Samsung is another brand that is exploring the metaverse’s potential for creating diverse and targeted content to reach Gen Z and millennials. Their new virtual flagship store ‘Samsung 837X’ enables users to create their own avatars, collect NFT badges and virtual clothing, and participate in events like product launches. The metaverse allows them to enjoy a personal virtual experience that is as informative as it is entertaining.

However, digital technology is not in itself a ‘magic trick’; it needs to be used creatively to create fresh experiences. Brands should never stereotype different generations; what works with one may not work with another. For brands and marketers, the aim is to know the audience and respond flexibly.

The full version of the article above was first published in Headline Finance on 20 April 2022 (in Chinese only).

Source: Headline Finance (webpage version), 20 April 2022