Gen Z: The Next Consumer Powerhouse
The Word "Gen Z or Generation Z" is making hype in the market. Its important for marketers to know how Genz are changing the market scenario and how they are the next consumer powerhouse. Gen Z are ambitious and optimistic. They are always running. Each and every second count for them. Till now we said Time is Money while Gen Z is proving them. Gen Z has a short attention span, being a brand you have to catch their attention or you might watch them shifting to other brands. So who is Gen Z? GenZ is born in the mid-90s and was raised by smartphones, hashtag, emoticons & symbols in post 9/11 era.
As they get ready to graduate from college, they’ll enter the workforce, which means their consumption habits will change. A steady job means they will have more buying power.
Adopt the concept of Instant Gratification. Brand experience is important. Be authentic and transparent. For your Gen Z consumer makes your products budget friendly. Click To Tweet
Where does Gen Z hangout digitally?
Looking at Gen Z behavior, Instagram to showcase their inspirational selves, Snapchat to share real experience, TikTok to create videos, Twitter for news. Netflix, IGTV, Prime, YouTube, Uber, Spotify, Airbnb for instant & easy access.
Related: Brands That Score On Social With Gen Z Will Win Wall Street
How does Gen Z feel about brands and how to gain their trust?
Gen Z as a cohort is rapid in collecting information. They are smart in filtering out the excess noise and can identify voices that are trustworthy. Gen Z is looking for a brand that can help them discover new things. Also, allow them to create and customize products/services to meet their needs. They strongly believe in expressing their identities.
So being a brand what all the things you need to keep in mind?
Gen Z believes in influences as they can directly communicate with them. According to Gen Z Guru 70% of shoppers want access to product ratings and reviews while shopping in-store. Even if a Gen Zers decides to shop online they are looking for easy access to product reviews and ratings.
Endorse Influences for your brand, you have to really make your customer service available for their queries and most important to keep pace with Gen Z you need to keep your messages short, bite-sized and visual with an option to access more information.
“They have the strongest BS filter because they’ve grown up in an era where information was available at all times.” – Emerson Spartz, CEO of Chicago - based Dose and the founder of MuggleNet, a Harry Potter fansite
Give these young people a reason to listen and ask them frequently. Welcome their suggestions and make them feel you listen to them. So marketers, while Generation Z might not be front and center in your customer engagement strategy, there’s no doubt they need to be in your periphery.
Marketers get ready to develop a significant social media presence to keep your brand alive.
Start taking advantage of every opportunity!!