Gen Z Consumer Psychology and Co-branding in New Media: A Review with Luckin Coffee

Co-branding has become an essential strategy for brands seeking to engage young consumers in today's competitive marketplace. Generation Z, as true digital natives who have grown up with smartphones and social media, demonstrate distinct psychological patterns and consumption behaviors that fundamentally determine the success or failure of brand partnerships. This narrative review employs Luckin Coffee as an illuminating case study to synthesize existing research on co-branding strategies, Gen Z consumer psychology, and new media communication effects. While current academic literature has established foundational understanding of co-branding mechanisms, in-depth analysis specifically targeting Generation Z remains surprisingly limited. Luckin Coffee's innovative business model and digital marketing approaches have attracted considerable scholarly attention, yet the extensive co-branding practice—particularly high-profile collaborations with Moutai and various gaming IPs—sits largely unexamined in academic discourse. Additionally, the differential dynamics of how distinct social media platforms shape co-branding effectiveness require much clearer theoretical articulation. By integrating available knowledge across these domains, this paper illuminates the psychological mechanisms underlying Gen Z engagement with co-branded products in new media environments and offers practical, actionable guidance for brands developing their partnership strategies.