We call Gen Z to the generation born between 1996 and 2016, who, interestingly enough, controls $143 billion in spending power. The Bank of America said their income would surpass that of millennials' by 2031, with "The Great Wealth Transfer" from older generations, this will inevitably add to their consumer power.
According to the IBM Institute for Business Value, 74% of Gen-Z spend their free time online.
The pandemic pushed the limits of a hyper-connected generation—days filled with lots of zoom calls and online shopping sprees. Many Gen Zers have described 2020 as a pause in their life. They took last year as an experience of self-improvement and growth. The young generation looks forward to renewing traveling, social gatherings, and an overall reactivation.
Gen Z is very distinct from its predecessors. Health awareness and conscious living are essential to Gen Zers. CPG giants would need to transform their businesses accordingly. For example, Nestlé and Danone are amongst some companies investing vast resources into plant-based brands. Heinz just launched a campaign joining the Veganuary wagon promoting the consumption of beans with the slogan “'Beanz Meanz Vegan”.
A GlobalData Survey concluded that 53% of Millennials consumers would shop online more after Covid-19, not differing much from Gen Z at 54%. Ease of purchase is absolutely crucial to consider because each additional step before completing a purchase might scare off this segment.
In love with video
Business Insider says that 62% of Gen-Z checks Instagram daily. Admit it; we can spend hours scrolling and browsing through TikTok, Instagram, or Youtube. The best content is snackable, which means it comes in short format and with smart editing- Think with Google says 85% of teenagers within Gen Z use YouTube to find content regularly. In comparison, 80% of Gen Z says YouTube videos have successfully taught them about something.
Gen Z believes that they have to drive the change they want to see in the world. They're a very hands-on generation and vote with their dollars, they're the type of consumers that wouldn't hesitate to boycott a brand if they're not being genuine or acting responsibly.
Ensuring brands implement responsive design and mobile-friendly interface, which brings us to our next point. We have to remember that Gen Z are digital natives. This generation was surrounded by the latest technology advancements: iPhones, iPads, and all kinds of interactivity.
Brands will have to design content and tech interaction that's value-driven. Gen Zers are deep; they are actually interested in knowing what your company stands for. If you want to appeal to these youngsters, you must be vocal about your actions and what you stand for. Trending amongst important topics for this generation are sustainability, zero or neutral carbon footprint businesses, inclusion, and diversity.
Technology will be playing a huge part in marketing to a brand's audience. For example, using technology frees up our hands, and today the voice-powered market. Amazon's Alexa and other voice-powered devices connect users with potential anything. It's basically an intelligent search engine that enables you to match with your preferences on a daily basis.
On the other hand, virtual reality and augmented reality enables consumers to try out many products. Partnering with Influencers, especially with micro-influencers, will drive higher engagement and ensure that brands get higher conversion rates. Personalization means that brands must change funnels to flywheels making shorter shopping journeys to optimize the shopping experience.
Developing content that Gen Z engages with has to embrace personality, have a bold approach, and most importantly, it must feel more like entertainment rather than marketing. From thousands of brands to choose from, consumers want to engage in creative editing and passionate storytelling.
Speed in the content outflow
The Now Generation wants entertainment often and fast. It's essential that brands keep their social and e-comm platforms flowing with quality content while maintaining brand consistency. Speed and creativity go hand in hand when creating content that resonates with a brand's audience.
2021 is a year full of potential, and it is up to marketers and brand managers to make the most out of it. Let's make this a year full of engaging video and audio content that will take by storm all social media platforms. Considering the specs for each will be essential to appeal to each consumer now and fast.
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Last Edited on May 25, 2018