New Power Consumers – Gen Z

New Power Consumers – Gen Z

As generations age, so it is that the newest generation of teens and 20’s become the newest and strongest power consumers.  Welcome to Generation Z.  I think you’re going to like them.  Most statistics list Gen Z as born in 1993 or 1995 and later.

Gen Z – Holistic View in Bite Size Visuals

gen z dreamerGen Z is the most diverse generation in history and as such their views are different from the generations before them.  They think globally first.  Most of the relate more to their global peers around the world than the adults in their own country.  Most have friends that are a different race from them, a different sexual orientation than their own,  and they  put a high value on inclusion.

They are risk averse, thoughtfully making choices.  They are the highest consumers of digital and social media than any other generation, yet at the same time they value family and friends and their opinions and recommendations.  They are seemingly addicted to their smart devices and at the same time are the best generation of multi-taskers yet.

And while they are the highest consumers of digital and social media, they prefer their media in bite size video, stunning graphics, and immersive experiences.

 

Gen Z Shops Differently

With over $44 billion in spending power (Forbes) it’s worth it to chase Gen Z.  But they shop differently than other generations.  ( A couple other dollar and cents facts:  They will be 40% of the consumers in 2020 and already influence $600 billion of the entire family’s purchases (businesstocommunity.com 2017) ).

Research

Gen Z more than any generation that has come before them researches their products online and specifically using their mobile devices.

Real People Opinions

This generation is nearly 50% willing to review and product and read those reviews.  They also want the opinions of their peers and family before making a purchase.

Collaboratively

The favorite way to shop for Gen Z is collaborative marketing apps.  Apps that allow you to answer a few questions and make suggestions on what the perfect product would be.  Many shopping sites and apps follow this protocol.  You sign up, get a “designer” answer questions about yourself and a suite of suggestions tailored to your style is presented.  Adapting that to gift giving is one of the reasons 1800 Flowers GWYNI (Gift When You Need It) app is popular.  Type in who the gift is for, some relevant information and you’re presented with the perfect gift for Mom!  Apps that allow for sharing to peers for comments and likes are also popular.

How Do You Compete?

Not every business can afford to create collaboration apps and websites.  However most have social media sites.  Consider pulling together suggestions for a certain demographic and post it on social media for sharing and comparing.

For example, Your post might read:

Need Some Sparkle for New Year’s?
Followed by jeans with rhinestones, a sparkly necklace, silver shoes and a chunky sparkling ring.

Encourage a 20 something to review your product and post in on social media for them to share.

Create a short video 10 seconds, highlighting a product you know is popular with this group.

For more ideas, I’ll be happy to brainstorm with you!

Leave a Reply

Your email address will not be published. Required fields are marked *