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Focus on Gen Z for Brands

Generation Z, or 'empowered generation,' or the 'green generation' and many other nicknames, includes people born between 1995 and 2010.

Gen Z is coming age, with the eldest members of the group being just 25.

It's only been recent that companies start paying attention to this group in their commercial efforts, as 40% of world consumers account for Gen Z, the generation with the soon-to-be highest purchasing power in history.

What's specific about this generation?

Apart from being the largest and soon to be the wealthiest generation, what's peculiar about Gen Z?

First, when certain life events were predictable for Millenials, the same events have been banished for Gen Z by the pandemic: where to live, income source, higher education possibilities, etc. 

Covid 19 is becoming a deterministic event in the life of Gen Z. It defines the group's behavior in regards to their financial situation: Gen Z has seen their families' financial struggle and now makes a choice towards saving more, spending less, together with choosing a more independent and influential career path as entrepreneurs.

41% of Gen Z consumers would rather lose their wallets than their smartphones. They are the most tech-savvy generation. They are adapted to information overload and independent online education.

Social media has helped Gen Z connect with businesses they believe defend their values.

Gen Zers are rebels and boycotters. They fight against social injustice and strive to be heard.

They are all for personalized experiences, against the mass market and old terms and policies.

How brands adapt to serve Gen Z

Given the objective economic reasons, it becomes impossible to continue doing branding and marketing the old way.

Authenticity, personal involvement is what companies choose to bet on in their effort to spark loyalty in Gen Z.

More and more companies of all sizes and industries develop a personal brand with which consumers can connect deeper. Real stories behind a brand resonate with Gen Z as a contrast to staged content.

Members of Generation Z tend to ignore brands that don't take social responsibility and stay 'neutral' at best. Sensitivity to social issues and social responsibility are other traits of Gen Z.

With so much emphasis on personalized experience, Gen Z group puts lots of emphasis on reviews and ratings and not on the size of the brand name when assessing the brand credibility.

All in all, the new generation dictates brands and companies the new way of doing business giving power to those enterprises who share the same values of tech and social progressivity, diversity, financial pragmatism, and more.

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