Post-Millennial: 4 Secrets You Should Know About Generation Z
Most retailers are scrambling to cater to millennials right now. But what about their little brothers and sisters – Generation Z?
Born around the mid 90s to the early 2000s, the post-millennial demographic is comprised of about 35% of the global population. Additionally, studies show that their spending will have reached $200 billion by 2018.
Business Insider recently polled 110 teens, aged 12-18 on what they like, don’t like and what they’re looking for when it comes to retailer. They had a lot to say. Namely:
Having never lived in a world without internet, you’d think these “digital natives” would shop almost exclusively online or through their phones. You’d be wrong. In actuality, 63% of teens polled said they actually prefer to shop in stores. It looks like the days of gaggles of teens loitering at the mall are almost over however, as more than half of them said the mall was no longer considered a cool place to hang out.
When asked what the biggest factor was when it came to buying apparel, 56% of teens said that style mattered the most (over both price and brand name). Teens taking part in the poll also expressed distaste over poor quality clothes being sold at high prices.
Today’s teens watch twice as many videos through mobile as any other generation with almost 80% finding YouTube or social media posts sponsored or created by their favorite brands appealing. Forbes reports that 63% of teens favored Snapchat and YouTube stars as Influencers. In terms of social networking platforms, Gen Z prefers Snapchat and Instagram, Facebook and Twitter being far less important.
Many brands and retailers believe that while making and selling kid and teen-friendly products is important, their core target still lies within the parents. In actuality, 46% of teens said they shop for themselves with money they’ve earned and 25% said their parents gave them money for shopping. According to Wildness, 91% of teens actually provide their opinion on their parents buying decisions.
A whopping 39% of teens taking part in this poll said they feel like retailers don’t really understand them. Comments like, “[Retailers] are trying to but they can’t pinpoint [what we want],” and “[retailers] understand clothing but lack the knowledge on how to perfectly display it to teens,” start to paint a clearer picture as to why. One way for brands and retailers alike to combat this problem is to get to know what keeps this generation engaged and what they really care about.
Nowadays, the average teen’s attention span is 8 seconds, compared to the Millennial’s 12 seconds. Campaigns marketed to this group should be succinct in addition to being unique and visually engaging. As the most ethnically diverse generation in US history, brands and retailers looking to intrigue today’s youth need to think on a global scale, as Gen Z culls inspiration from around the globe. And with 60% of Generation Z having aspirations to change the world (as opposed to 39% of Millennials), socially-conscious brands are at an especially good advantage.
So Hubba reader, what is your brand doing to tackle this soon-to-be all-consuming demographic?