What if we told you 40% of the population has over $44 BILLION in buying power? In about five years, that could be tripled. Meet Generation Z. That’s the name coined for the up-and-comers following behind the Millennials.
But don’t mistake their proximity to Millennials for similarities. Fact is, they’re blazing their own path, with a more conservative yet more media-saturated approach than their predecessors.
Mere tweens and teens now, their numbers easily hit 60 million, making them bigger than Millennials. Experts differ on their dissection, but most agree those born from 1996 to the mid-2000s fall in the group. They don’t remember a time without social media or smartphones.
Call them Millennials on steroids (many have); call them “the next big retail disrupter” (Women’s Wear Daily did); just call them, because they’re primed with almost unprecedented buying power and influence.
So what do you need to know about marketing to Generation Z?
- They love social media, but want to fly under the radar. Hence, their penchant for Snapchatting, Whispering and Instagramming, rather than the more ubiquitous Twitter and Facebook.
- Their attention span is dwindling – about 8 seconds, according to experts. Lower than any generation before them, and continuing to decrease.
- They take a real-world approach, conservative with money (thanks to a very real memory in the 2008 Great Recession) yet more free with money when it comes to expanding their horizons through, say, a safari or tour de Europe.
- They LOVE their video – watching twice as much as others. (And 70% of them watch two hours or more of YouTube a day.)
- Speed is key – they don’t have time or inclination for deep dives, often multitasking with five screens at a time.
- They love emojis, computers and image memes – using them all to communicate.
- They tend to be mature and in control, and prefer to be spoken to as adults.
- They want to be entrepreneurs and build their own brand.
- They want to make a difference, and values matter. They’ll make brand loyalty choices accordingly.
In short, 8 seconds isn’t just for rodeos – if you’re targeting Gen Z, you’d better be quick, to the point and make it visually appealing. While empowering them, approaching them across platforms and of course offering them the opportunity to engage and express. Want some help getting from Millennial to Z? We speak the language. Contact Randy McDaniels firstname.lastname@example.org or 309-346-7412.