A recent Total Audience report from data analyst firm Nielsen Media Research revealed that Gen-Z now comprises 26% of all media consumption. Gen-Z is those born between 1997 and 2015, with the oldest member now 20 years old. It’s been found that they watch less conventional TV than, a surprisingly low number of just 8 minutes per day accessing the internet via ‘traditional’ computers. Mobile is no longer the future, it is the now.
Adding millennials into the equation brings the number up to 48%, meaning nearly half of all internet browsers are aged 37 or under at the time of writing.
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Gen-Z’s buying preferences are also quite different to their slightly older contemporaries also vary with that of the Millennials and Baby Boomers.
A whopping 67% of them prefer to shop in a store most of the time, suggesting that the high street isn’t quite dead yet, and that e-commerce doesn’t always trump the experience of physically shopping. Those who frequently use an app to purchase something is less than 15%, and even fewer when calling by phone.
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Their in-store purchases, however, are heavily influenced by technology. While shopping in retail stores, they use mobile apps and mobile phone features, particularly text and Snapchat, according to a consumer retail behaviour survey done by Euclid Analytics.
Only 39% of all shoppers text while shopping in stores, but Gen-Z hits the 50% mark. When it comes to using Snapchat while shopping, an average shopper and Gen-Z shopper vary by a huge margin at 15% and 44%, respectively.
(Photo by Euclid Analytics)
The data shows that the next generation mass-market consumers belong to the Gen-Z population segment. Brands and retailers who want to tap into this market segment should understand and address their expectations and preferences, which are quite distinct from that of the millennials, despite sharing similar characteristics and behaviour patterns.
The rest of the generational composition is occupied by the Baby Boomers at 24%, Millennials at 22%, Gen-X at 20%, and Greatest Generation at 9%. For the first quarter of 2017, the average time each generation spent accessing the internet over a computer is as follows: 1:02 hours for Millennials and Baby Boomers and 1:20 hours for Gen X.
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How Brands Can Market to Gen-Z
Want to maximise the massive buying power of Generation Z? You need to provide exceptional value to this particular population segment.
- Use quantitative data to your advantage when speaking to Gen-Z clients.
They prefer to see that you’ve delivered results based on past performances.
- Be clear and concise on what you can do for them.
Gen-Z wants you to spell it out, which may involve combining “traditional digital distribution with aggressive marketing”
- Know what you are good at and own it.
With how tech-savvy Gen-Z is at searching for solutions for their specific needs, you need to know what you do best and focus all your energy on it. There’s no room for fringe services these days, because there will always be a rival that specialises in it
- Use testimonials and samples.
If qualitative data is not enough to convince Gen-Z consumers of the value you can offer them, supplement it with examples and testimonials.
- Keep communication lines open.
This is the key to understanding how to meet Gen-Z’s expectations by providing the right value-added services and in identifying additional value you can offer in the future.