Spotlight on Gen Z: the Generation your Brand May be Missing
Gen Z is beginning to capture attention as a big disruptor in the marketing world. These individuals have been exposed to so much, born after (roughly) 1995; they have seen the world change drastically across social, economic, and technological platforms. Unique in their primarily digital access to the world around them, they have a new threshold of behaviours and beliefs differing from the currently-hot Gen Y target. Though young, this generation already holds a strong economic influence, and brands are truly missing an opportunity if they haven’t already begun to market directly to these individuals.
Aside from the fraction of the generation that may have some discretionary income from part-time jobs or babysitting cash, Gen Z hold power over their parents’ wallets. According to Cassandra Report, 93% of parents say their children influence family spending and purchasing in the home. As they grow older and capture even more economic power, it will be crucial for brands to harness awareness, preference, and loyalty among them. The group seems to already be less brand loyal than its predecessors, indicating a willingness to try new things and an opportunity for brands to ‘woo’ the generation.
But how does a brand even begin to connect?
First, you must understand the Gen Z mindset. Differing from, what some may call the “self-centered” Gen Y, Gen Z works in a place of heightened self and social awareness. Gen Z is looking at what they can do personally. They know their purchasing power and want to direct that cash to companies that truly are making a difference. Research has shown a remarkable degree of altruism. Studies show that Gen Z even ranks working for a company that is helping to make the world a better and healthier place in the same consideration as salary! Gen Z is committed to positive social and environmental impact and their actions back it up. For example, teens explain how they cut pollution by riding their bikes or walking more. One young girl, even came home from school and put a ban on water bottles in her home after learning about their negative effect on the environment.
What does this mean for brands?
Invest thorough energy into understanding Gen Z and what makes them unique. If not, you are losing an opportunity to anticipate the behaviour and trends of a massively blooming consumer. Tap into this environmentally and socially aware generation. Be brave — earn their trust, seek their loyalty, and don’t be afraid to break the marketing status quo of Gen Y targeting.
Written by Crystal Robinson-Carroll
Business Management Executive @ REBORN