Generations Y and Z are making their move. Now representing About the authors 1 nearly two-thirds of the world’s population, their influence and Rachel Barton spending power is huge. Their preferences and expectations will Senior Managing Director, Accenture Strategy dominate for decades to come. Executives must stand up and take Rachel leads the Accenture Strategy Customer Insight & Growth notice. Generation Y and Z consumers aren’t like earlier generations: Strategy practice in Europe, Latin America and the United Kingdom. Working with some of the world’s largest companies, she advises They place greater importance on a company’s purpose and are more business leaders across multiple industries on how they can acquire likely to vocalize their opinions and turn their backs on companies and retain profitable customers to grow their market share. Rachel is based in London. that falter.2 Generations Y and Z have ascended to Generation P(urpose). Jürgen Morath In response, companies should step up How should companies react? Managing Director, Accenture Strategy their purpose game. Simply having purpose By bringing clarity to what they value Jürgen leads the Accenture Strategy Customer Insight & Growth Strategy isn’t enough for the Generation P(urpose) and believe in. By attracting consumers practice in Austria, Switzerland, Germany and Russia. He leads organizational growth strategies across a variety of industries and provides crowd. They demand that companies infuse not just by the strengths of their brands specialized expertise to the C-suite on how to leverage technologies purpose across their organizations, via but by the strength and fidelity of their to accelerate customer benefits. Jürgen is based in Kronberg. all touch points, and through their words, actions. And by applying a purpose-led Kevin Quiring actions, products, services and ways mindset to drive innovation to all parts Managing Director, Accenture Strategy of doing business. of their organizations and to achieve Kevin leads the Accenture Strategy Customer Insight & Growth Strategy Generation P(urpose) demands fidelity. sustained competitiveness. practice in North America. He advises organizations across a variety of industries in the design and development of customer strategies, and leads initiatives focused on driving profitable growth through customer acquisition, development and retention. Kevin is based in Minneapolis. Bill Theofilou Senior Managing Director, Accenture Strategy Bill leads the Accenture Strategy Customer Insight & Growth Strategy practice. He leads strategy and implementation engagements across a range of industries, specializing in restructuring companies for profitable growth, developing new go-to-market models and growth strategies, and aligning organizational and cost structures. Bill is based in Boston. 2 | GENERATION P(URPOSE)