LATEST UPDATES
Three quarters of Gen Z shoppers prioritise ethics over price despite cost of living challenges
new report by UK consultancy firm , Alchemmy , found three in
A four ( 75 %) Gen Z consumers make purchases based on their values . This compares to only 67 % of the general population . rewards when compared to older generations . Over half ( 58 %) of Gen Z consumers said they would pay more for products with sustainable credentials .
The report , Future of Retail : Is Generation Z leading the way ?, explores consumer retail behaviour of all generations . It found three in five ( 58 %) Gen Zers are more likely to buy products with sustainability claims , compared with just 45 % of all consumers .
The study gives further evidence of how the retail industry will have to adjust in the future as Gen Z increases its spending power and influence on the market .
Alchemmy ’ s research also found that while the cost of living crisis and rising inflation have had a huge impact on consumer decision-making , Gen Z is not willing to sacrifice ethical values for a good deal . Eighty-two percent of Gen Z describe price as a very important factor , however this is a full 10 % lower than the general population ( 92 %).
Maintaining values when making purchases is having an impact on the Gen Z generation . The report highlighted that sustainability is more important to Gen Z than deals , offers or
Twenty-two percent of UK CEOs have no prior experience
Heidrick & Struggles UK has found that prior experience at executive level may not be as fundamental to landing the top executive job as it once was , with 22 % of CEO appointments in the UK having no prior C-suite experience . The Route to the Top 2022 report suggests that firms are increasingly willing to look beyond the C-suite when undertaking succession planning . Rather than targeting those in traditional executive officer roles ( CFO , COO , etc ), the report finds that candidates who offer deep operational experience are preferred .
The primary findings indicate a changing emphasis on the importance of prior experience in the highest executive positions . The upward trend is reflected across Europe , where an average of 27 % of CEOs had no prior C-suite experience , and the figure stands even higher , at 30 % in the US .
This report also shows a shift towards appointing CEOs internally . Globally , 64 % of appointments have been made internally , compared to 61 % in 2021 . Comparatively , over the last two years , the UK has scored above average when it comes to internal appointments .
The report finds that 69 % of UK appointments were internal , above the global average for a second year and up from 68 % in 2021 , signalling a continued inclination towards internal succession planning and leadership readiness from within the organisation .
6 www . intelligentcxo . com