The next ten years will be shaped as Generation Z matures and influences many industries. This is exactly why generation Z is on everyone's lips, from politicians to global brand representatives! Let's take a closer look at Generation Z together!
The oldest generation Z, including people born after 1997, is currently graduating from college (as long as the pandemic allows) and preparing to enter the workforce. And they have become one of the strongest consumer forces in the market today. Yes, Generation Z shapes the present and the future. Not only do they contribute to shopping behaviour, they also affect the environment. 52 percent of parents say that the thoughts of the Z generation, that is, their children, affect the brands they will buy.
We're talking about "digital natives"
The main common feature of the Z generation is that they were born into digital. Generation Z, the first generation born entirely in the internet age, has a smartphone penetration approaching 100 percent all over the world. Members of this generation also have more social media accounts and spend more time on social media than other generations. 50 percent of Generation Z spend a significant amount of time each day interacting with social media and online videos.
You have 8 seconds to get attention
What's more, Gen Z has a shorter attention span than millennials. You have 8 seconds to get their attention, which is only two-thirds of millennials' time for you. This situation offers brands a very short window to gain this audience and forces them to know better the behaviors and preferences of the Z generation and to take that one shot by using what they know in the most effective way.
3 basic consumer behaviors of generation Z
Experiencing the new is an important factor in the purchasing preferences of this generation. For this reason, it is remarkable that small-scale brands grow much faster than other brands in consumer products categories. Because for the Z generation, the experience offered by the brand is more important than the brand itself. A stronger selection criterion is what kind of experience the product or service will offer.
Focus on price
They are more likely than millennials to expect a product to be on sale rather than buying it at its current price. Whereas the previous generation had more impulsive behaviors in spending money, Generation Z tends to spend pragmatically. However, if they believe it will support a local retailer or help the environment, we can say that they are more willing to put their hands in their pockets.
Focus on living the story
As fairly new consumers, their brand preferences are yet to be pinpointed, giving companies the opportunity to promote themselves and gain their loyalty in ways that resonate with Generation Z. To gain respect and loyalty from this generation, brands need to demonstrate their commitment and create a business model based on sustainability and equality. They care more about what brands do than what they say.
They care about their appearance and therefore they want to uniquely reveal their identity and make it visible through their purchasing preferences as well as being a consumer. An image is worth a thousand words for Generation Z. Visual communication precedes messaging in the communication path of Generation Z.
Society will continue to change. In order to plan the future in the best way, brands should start to take into account the generation Z, which will have the largest share on the consumer side in the coming years.