By Elyssa Curet
Generation Z has already made its mark, collectively disrupting the status quo and redefining what it means to be a consumer. This group of individuals was born between the years 1996 and 2010. Given their different needs and beliefs, they are becoming a powerful force in determining markets’ and businesses’ strategy.
Currently, Generation Z has purchasing power worth $143 billion. This means that this generation is in charge of all organizations and companies who wish to impress the generation. Hence, values such as Black Lives Matter, eco-consciousness, and inclusion are crucial. If companies want this generation’s engagement, they must demonstrate that their values match Gen Z’s. After all, this generation has the power to boycott certain companies until they align with their beliefs.
Statistics say that Generation Z is practically addicted to their devices—but who can truly blame them? Generation Z is the last generation which can remember a time before an internet-centered world. 66% of Gen Z uses more than one device at a time, exemplifying their desire to stay connected. Even while watching TV, 95% of Gen Z also use another device to chat with friends or go on social media. Generation Z isn’t only connected but selective in what they are attentive to, too.
In terms of Generation Z’s motivations and future endeavors, the group is career- and skill-oriented. This mindset is demonstrated by 59% of Generation Z being willing to learn a set of new skills if it is guaranteed it will result in higher pay.That being said, this generation knows their worth as 35% of Gen-Z students expect at least one job offer by the time they graduate from college. Because Generation Z’s preferences and motivations differ from previous generations, companies must keep up if they are keen on impressing this generation. Generation Z aligns with following their aspirations rather than stability like millennials do. Companies must adapt and cater to these values in order to stay competitive. With their internet savviness and willingness to learn, Generation Z is ready to shock the rest of society.
If your business is looking to understand Generation Z, contact our advertising agency in Los Angeles today so our team can help!