Get to know Gen Z consumers, their values, and why TCP Group launched energy drinks to capture the 'young' market
Gen Z refers to the new generation born between 1995-2009, aged 12-26 years old, who grew up with technology and the internet, and surrounded by many facilities. They are fast learners, make quick decisions, and are informed consumers when it comes to purchasing a product or service, and do their own research and check online reviews. In terms of purchasing power, marketers see Gen Z as the most willing to pay if the product or service best represents their identity, personality, or supports issues they care about.
On the other hand, Gen Z is the driving force in the world in this new era. They have an intelligent lifestyle, are keen to express themselves creatively, love to explore new ideas or approaches to get the best possible results, and also prefer work-life integration where they can excel at their studies, work, and play at their own pace.
What makes Gen Z different from others is that they do not hesitate to be different, have high self-awareness, and are straightforward in their desire to drive change.
How Gen Z is connected with energy drinks...
Based on data from TCP Group’s1 energy drinks growth in five key markets this year, the products continued to record favorable growth in each market -- 40% in Malaysia, 5% in Vietnam, 4% in China, and 3% in Thailand. Energy drinks are, therefore, still in high demand from consumers.
When delving into Thailand’s energy drink market, which has a total market value of 20,000 million baht,2 growth was mainly driven by premium energy drinks which grew by 5% while market penetration remained at 21%. A majority (50%) of customers are in the Gen Z group, consisting of college students and first jobbers. This segment has strong growth potential as Gen Z accounts for a quarter of the Thai population.
TCP Group sees this future trend as an opportunity to empower the new generation through the energy drink segment.
As one of the market leaders in energy drinks, TCP Group has a deep understanding of consumer behavior, and is always developing products to meet the needs of consumers. This is especially true for Kratingdaeng (Red Bull), which is currently available in 14 product lines in 13 markets and aimed at “Energizing a Better World for All,” in line with its Fulfilling strategy to energize the brand. This is the reason TCP Group is presenting Red Bull to Gen Z in a way that breaks the norm of conventional energy drinks. Red Bull is, instead, empowering Gen Z to live life their way, using their creativity and energy every day. Red Bull Halls XS is, therefore, an energy drink that energizes Gen Z to live a creative life without sticking to the old ways of doing things.
This is the story of a new energy drink, in a new flavor and style, specifically chosen by TCP Group to boost the creative energy of Gen Z to live life like an #ENERGENIUS.
