Gen Z, born between 1997 and 2011, is now coming of age in large numbers, and marketers can’t afford to take as long to come to grips with Gen Z as they did with Millennials.
The first cohorts of this new generation, who are now 16 to 19 years old, are increasingly relevant to a wide variety of categories and products. Globally, they are huge too: around 2 billion of the world’s citizens—approximately 27% of the global population—belong to Gen Z.
The danger for marketers is that Gen Z is not “millennial-lite” or “millennial-extra-strong”, but different in distinct ways. Gen Z not only challenges how brands communicate, they challenge the very notion of a brand’s authenticity and transparency in digital.
Gen Z, the generation of teens following Millennials are the next target of marketers, according to Ashley Rodriguez, writing for Advertising Age.
Members of Gen Z have their own unique set of characteristics:
-Practical and value conscious.
-Seek best quality at the right price.
-Risk takers who thrive on discovering something new and different.
-Creative and entrepreneurial.
-Want to be unique and not blend in.
-Consider technology as a given since they were raised with it.
-Utilize the vast amount of available information.
-They’re loyal once they find a brand, product or service that they like.
-Have great potential as brand ambassadors.
-Use social media to instantly share both good and bad experiences with a brand.
-Focus on a rental, rather than ownership model, such as cars and formal dresses.
-Drawn to nostalgia.