Think cracking the millennial code was tough? Wait until you meet their younger siblings. The generation born between the mid-1990s and 2010, known as Generation Z (millennials are Gen Y), is not only the largest generation in history, but its members also wield an estimated $44 billion a year in buying power, according to research from Sparks & Honey. And that doesn’t include the outsized influence they have in family purchasing decisions — estimated at more than $600 billion. Here’s what you need to know:
They Are Mobile Natives
This generation doesn’t remember life before smartphones. They spend more than five hours a day online, multitasking across an average of five screens, but their go-to platform is their smartphone. They’re used to being able to find anything they want online, and they are quick to move on when they aren’t engaged. They have become consummate consumers of “snack” media — quick, bite-sized hits with a heavy emphasis on images instead of words. That means brands need to communicate seamlessly across all digital platforms using concise content that’s heavy on emojis and stickers.
They Are Willing to Engage — on Their Terms
Don’t mistake short attention spans with a lack of focus. Some research shows that Gen Z’s brains have simply evolved to process information faster. They will flit through content that doesn’t grab them quickly because they understand that while information is limitless, their time is precious. They want a personal connection, so create opportunities for two-way communication using their go-to social media platforms, Instagram and Snapchat. And make it authentic. Research from Deep Focus shows Gen Z is more interested in content with realistic endings (67%) and ads featuring “real people” instead of celebrities (63% compared with 37%).
They Are Savvy Consumers
This generation is extremely brand-conscious, but, first and foremost, it is price-conscious. Gen Z consumers have been deeply influenced by their Gen X parents and millennial siblings, who still might be struggling to recover from the Great Recession. As a result, Gen Z will do extensive research to find the best price. And they prefer to do their research — and their shopping — online.
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1, 2, 4. https://www.slideshare.net/sparksandhoney/generation-z-final-june-17
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