Generation Z Consumers – The Facts
Generation Z Consumers – The Facts
While Millennials are well researched and now, seemingly old news, what do we really know about Generation Z, as consumers? The post Millennial teenagers to young adults (13 to 17), are a pivotal force to be reckoned with in terms of future brand strategy – they are the future ambassadors with huge social pull.
Research so far, shows us that gen z’s are extremely hard working, often having several projects at one time, and have a traditional view of, ‘success’, valuing education, career and money, yet are radical, socially aware thinkers concerned with topics such as race, gender, identity and sexuality. They are a generation of doers and entrepreneurs, who are not easily sold to, or impressed.
So what does this mean for brands? Well, it means this whole new mess of consumers respond to marketing in a specific way, with $44 Billion in the US alone (£28bn) of discretionary spending each year, brands need to understand what matters to this generation more than ever.
They are different to millennials
Gen z are the first generation to truly grow up only knowing life online, meaning they process information faster than other generations thanks to apps like Snapchat and Vine – their attention spans are significantly lower than Millennials.
They are less focused than Millennials but like to multi task due to their ability to receive information at speed. They are also less likely to click on ads; a recent poll found only 59% of gen z’er’s followed an advert online before making a purchase against 71% of Millennials.
Bargains are also not so important to this generation with only 46% motivated to go onto a website to get a coupon – 67% of Millennials would.
The 8 second window
Is all the attention span a typical gen Z will give your advert. As they’re busy consuming everything at speed and quickly discounting anything that underwhelms, your space needs to grab their attention almost instantly; the call for originality in marketing campaigns is bigger than ever going forward.
Expectations are high
While Millennials can just about remember dial-up, Generation Z was born into a tech only savvy world and consider inspiring invention a given. Gen z want it now, and if it doesn’t happen fast, they think something is wrong.
Marcie Merriman, executive director of growth strategy at Ernst & Young adds, ‘They expect businesses, brands and retailers to be loyal to them. If they don’t feel appreciated, they’re going to move on. It’s not about them being loyal to the business.’
Brand values matter
They are the most ethnically and racially diverse generation in history; resourceful, creative, humble and always connected – this generation learns from the past and will think very carefully before endorsing a brand without knowing the story and ethics behind the product. They value image in a non-vanity driven way meaning brands they connect with have to fit their ideals in a moralistic way first.
Facebook is their top social media platform
Not the newest platform but Facebook is still the top choice of social media by Gen Z with over 51 per cent quoting it as they’re favourite place to connect and collect information. Personal life is as valued as work life by gen Z’s so the network of friends and family on Facebook overrides the inspirational aspects of say, Instagram and fun of Snapchat.
So knowing what we know already, it’s clear that this next-gen will be brilliant, challenging and future innovators to aspire to. And for brands currently over-sighting this constantly connected consumer phenomenon, it’s time to embrace and question their motivations, and form a deeper understanding.
For further insight into the next generation of consumers and how to future-proof your brand contact us here, to discuss our unique science-based marketing model.