Kantar Lighthouse 2023: Gen Z – unravelled

KANTAR Sri Lanka, hosted its annual knowledge-sharing event, KANTAR LIGHT HOUSE 2023, at the Kings Court, Cinnamon Lakeside and unravelled compelling insights around the young generation, Gen Z in Sri Lanka, through sessions that included key trends impacting the overall business landscape and their implications on brands.

The conference was attended by top leaders from a diverse range of brands present in Sri Lanka. The distinguished guests included CEO, Kantar APAC – Leung Cheong Tai, Executive Managing Director, Insights Division, Kantar South Asia – Deepender Rana, and the Executive committee of Kantar South Asia.

Head of Kantar Sri Lanka – Himalee Madurasinghe, emphasised the crucial necessity of comprehending the prevailing pulse of the people. She explained the myriad experiences individuals have undergone in recent years, leading to unprecedented shifts in behaviour. “The resultant impact on businesses has been profound, leaving little room for proactive planning or anticipation of these transformative changes. While certain sectors show positive momentum, the journey towards reclaiming past levels of achievements is anticipated to be gradual.”

Madurasinghe emphasised that the profound understanding of consumers remains a paramount concern, given the evolving landscape. “Notably, the emergence of Gen Z into the workforce introduces novel and intriguing behavioural patterns that demand thoughtful consideration from brands and their custodians”. In reaffirming Kantar’s commitment, Madurasinghe reiterated the company’s dedicated role as a facilitator for providing invaluable insights into these nuanced dynamics.

CEO, Kantar APAC – Leung Cheong Tai, shared insightful observations with the audience, shedding light on three overarching trends prevalent in the APAC region. With a succinct articulation, she outlined these trends as “Do more with less, Unlearn to build brands of tomorrow, and Do well by doing good.”

In his engaging address, Executive Managing Director, Insights Division South Asia – Deependra Rana, presented a compelling perspective on the integration of artificial intelligence within KANTAR, aptly titled “KANTAR and Artificial Intelligence – Future is Here”. Rana illuminated how this technology serves as a catalyst for “Generative AI = Humanizing EI (Enhanced Intelligence)”, ushering in a paradigm where AI enhances human capabilities.

The evening’s focal point was the exchange of information and insights encapsulated within the theme – GEN Z – Unravelled. Shevanie Senanayake and Nuwani Jayasuriya skillfully took the audience through a captivating presentation. “Gen Z, the demographic cohort aged between 11 to 26 years, took centre stage in our exploration, with a specific focus on those aged 15-26 for this study, constituting 23% of the population. These Gen Zers emerged as alchemists, reshaping the societal norms of Sri Lanka.

While Gen Z can sometimes be enigmatic, they represent a puzzle, embodying a complex and multi-faceted identity composed of various pieces that together form a cohesive whole. Our exploration delved into five distinct facets of this generation, casting light on their identity.” The facets categorised as Neo-Traditional, Aspirant, Go-Getter, Phygital (Physical and Digital), and Explorer, offered a nuanced understanding of Gen Z.

The study not only reaffirmed known behaviours but also unveiled new perspectives, empowering marketers and businesses to appreciate the significance of these findings for making informed decisions.

Gen Z and Gen Y make up 50% of Sri Lanka’s population with 25% being Gen Z. As per Kantar’s National Demographic and Lifestyle Survey (NDLS), Gen Z is present in 58% of our households and is not only influencing the buying power shift, but they are also a part of a large-scale cultural shift.