The purpose of this paper isto identify the scope of Generation Z's participation in the process of collaboration with brands in Serbia and to study the potentials in the future. Collaboration between Generation Z (GenZ) and brands in the digital world and intensive era of social media marketing has two roles: GenZ as co-creators and influencers. The aim of the research isto measure statistically significant differences in the answers of the respondents in relation to the examined opinions, needs, attitudes and intentions of the members of GenZ regarding the process of collaboration (co-creators and influencers). In January & February 2021 the research was conducted with 303 respondents of GenZ in the online survey. The results show that almost 70% of members of GenZ believe that organizations should more often organize activities in which consumers participate. By involving GenZ in the process of collaboration with brand, product and service development, receiving regular feedback from them and engaging influencers, marketing and brand managers could work on creating unique solutions, added values and personalized experience. Serbian marketing and brand managers, working to strengthen the customer centricity approach, could apply research results, insights and recommendations to design more effective and efficient collaboration for their brands together with GenZ.