Source: Forbes
Generation Z has been labeled with terms such as “conscientious” and “hardworking,” but Gen Z (young people born after millennials) are more than just diligent and future-conscious. They are the future, at least from a marketing perspective. With tremendous purchasing power (more than millennials ever had), this new generation is set to be “the next great retail disruptor.”
Who makes up Generation Z, and how are they different from their older siblings, the millennials? What do brands need to know to avoid past mistakes and connect beyond the surface? Smart brands recognize the need to accurately define the next generation of consumers—and this time, hopefully, there will be no jumping to conclusions.
Does that mean millennials are dead to marketers? Hardly. But now is the time to shift some focus. They may be in high school now, but the “unlimited generation” is arriving fast.
Understanding Generation Z
So, who is Generation Z? The latest demographic to capture our attention is between the ages of 5 and 19. They are children who are rapidly emerging as the next big thing for market researchers. And, with spending power that exceeds previous generations, it is easy to see why. Entirely different from millennials, here are some Generation Z traits to consider:
1. Technology is in their DNA
Members of Generation Z have never known life without technology by their side. In this sense, technology is who they are, not what they do.
2. They love the absurd
Unlike their “older siblings,” who are fond of humor with a certain intellectual patina, members of Gen Z are less sophisticated (humorously speaking) and adore deliberately quirky and absurd humor.
3. They have no filter
Millennials, who lose sleep over privacy (to some extent), are a world away from members of Generation Z, who were born to share (without any kind of filter).
4. They are savers, not spenders
Generation Z is much more conservative with their money than the preceding generation. They are more inclined to save than to spend money aimlessly.
5. They dislike labels
Millennials might love labels and categorizing everything into groups, but Generation Z avoids categories like the plague.
After understanding (more or less) Generation Z, it is time to connect with them, something brands can do by utilizing these 5 strategies:
1. Relinquish control
Members of Generation Z ooze creativity from every pore and are not content with simply acquiring products and services as brands choose to offer them. They want to transform and personalize these products and services as they wish.
2. Create with communities in mind, not individuals
To win over members of Generation Z, brands must strive to create products and services that are truly valuable to the communities they belong to.
3. Be authentic
Generation Z, which holds honesty and transparency in very high regard, appreciates brands that are not afraid to be authentic and publicly adopt stances that will not please everyone.
4. Maximize influencer marketing
Influencers are key to capturing (and keeping) the attention of Generation Z members. Brands should encourage them to share their opinions online.
5. Pay attention to them, a lot of attention
Generation Z possesses a very powerful voice and they know it. For this reason, members of this generation always expect more from brands, demanding top-quality experiences.
