We often talk about how the latest generation bring about so much change, difference in cultures, their forward thinking and many more. The newest generation never fails to surprise us, to say the least.
Well, we know that this generation defines the future and the futures’ future too. They have so much power in their hands that they do not know about, nor do they understand what it can unleash.
Wondering why this generation is so important? Especially to businesses and what they are capable off? Read-on… to reveal some facts about, Gen-Z!
So, who are Gen-Z?
Born somewhere between the mid 1990’s and early 2000’s, the kids (now teens or adolescents), form a massive part of the world’s population. Imagine the buying power of these ‘little adults’ who are growing to be tomorrow’s trendsetters – unfathomable yet.
What should you know about them? Business-wise…
- That they have ‘The Power’ to buy – an average teen spends much of his pocket money on online purchases of a variety of products (ranging from apparel to footwear to jewelry, just about everything). But, they also put their money where their values are – their beliefs are as good as their dollars!
- They need personal attention but yet are protective of their privacy! – attention to detail – attention catering to their varying tastes. They look for highly personalized interactions for their purchases and though crave for hyperpersonal interaction, they are not keen to share their personal information.
- They value individual unique expressions and they give instant feedback – They are open about expressing their individual identity and telling you what works and what does not- which just makes it that more of a dearer experience to them. If you need to change your outlook or line of thought, get personal with Gen-Z and you will be pleasantly surprised by the outcome!
- They are smart shoppers. Beware! They can compare, spend hours researching on that perfect black tuxedo (example) - the exact material, the height and weight and the color they want and hence can knock you down in seconds with their information. One must be super confident what content is put out along with accurate information for business success.
- Virtual world is their fantasy come true. They are literally ‘mobile’ – everything via their smartphone is what they do. They like new brands, new concepts, creative campaigns and interactive programs. The more creative your business is the more you will engage this Gen-Z. Even apps like TikTok, SnapChat and similar ones have their interests gripped.
- Advertisement in all forms is ok with them. Gen-Z are drawn to advertisements and are more likely to check on these ads when they are on their favorite social-media channel. They have a knack of using different network to satiate their shopping journeys. So, next time when you are making that ad, keep in mind the channel you will use to tap this potential lot.
- Diversity is the key – A more inclusive way of putting out your products, draws their attention. They disregard bias and are more comfortable with liberal minded markets.
- They are optimistic. A very good factor to tap. Surveys show that Gen-Z are optimistic that they can do better than Gen-X (read ‘their parents’) given that they are responsible and are financially capable. And they do this confidently and conveniently through mediums of social media. (Reference Read)
What should you be wary of while dealing with Gen-Z?
- Privacy. Even though they welcome personal interaction with businesses, they respect it if their privacy is protected. They can also be guarded and use aliases to get a ‘feel’ of the experience before they give themselves away. This means careful treading is the key to gain their confidence and turn them to loyal customers.
- Open-ended options. Some might want an option-out and some option-in, depending on how and where your ad has been placed. They like to wield the power to ‘skip’, ‘watch’ and ‘replay’ your ads at their whims.
- They love their celebs. But, they do look for genuine products of endorsements by these celebrities. Choosing the celebrity wisely is the key to get the required eyeballs to your business.
- Gender factor. Yes, we are talking about Gen-Z and gender factor in the same line. It is just to do with what kind of online platforms each gender chooses and nothing more. Female shoppers rely on Facebook, tumble, snapchat and the likes while the male shoppers like Reddit or TV in general. Depending on your target, choose your platform for placing your ads.
Now that you know some information on Gen-Z, ready your ammunition and fire away to gather potential buyers and turn them into your long-lasting customers.
Have I left out on any information? Or do you know of any additional information that we can add up here? Don’t hesitate to point it out and write to us – we would love to update our reviews and findings.