Why Generation Z just might be the next big thing

by: Petra Despot, brand consultant

When defining target groups for the brands we develop, we often end up exploring habits of the currently two most significant groups: Generation X and Generation Y. Although these terms can mostly be related to American consumers and the US society, we found some points of similarity when it comes to European and Croatian consumers.

Just a short reminder: Generation X mostly refers to those born between the early 1960s and the early 1980s. Gen X is the best-educated generation so far, characterized by high levels of skepticism and a “what’s in it for me” attitude. They are highly pragmatic when it comes to parenting and financial planning, often preferring to buy a small number of high quality products that can give them lasting value for their money.

Generation Y includes people born between the early 1980s and the mid 1990s, also known as Millenials. They are highly literate when it comes to new technologies and digital media and often of neoliberal approaches when it comes to politics and economics. They are competitive, have high expectations and tend to switch jobs frequently.

All of us writing this blog, and probably most of you reading it fall into one of these two groups. But there is another group that is yet to pick up most of the limelight. A group that has significant buying power, but more importantly a group that has great influence over other generations and the society as a whole - Generation Z.

Generation Z refers to those born from the mid 1990s to the present, typically the children of Generation X. They are highly connected, having grown up on instant messaging, iPods, Facebook and YouTube. Everything they know is instantly shared via social networks. They tend to create their own rules and trends, rather than to follow the ones being set by others.

It is a group of great importance to all us marketers and business owners, as it is a generation that will most probably challenge and reshape all of the existing market and media rules.

From the moment they wake up in the morning, they are connected, usually doing more than one task at the time. They engage with brands on Facebook and check Twitter for daily news rather than the traditional media. Their interest in brands changes as fast as their taste in music. The challenge to the brand owners and strategists is constantly creating a new and exciting brand experience, while at the same time staying true to the brand’s foundations.

One of the ways of doing it is including them in the process of brand development, rather than providing them with an end solution. Showing them the process or giving them the opportunity to participate in it, may just be the winning formula. By revolving the brand experience around them, you give them motivation to share it with their friends and to become your brand’s true ambassadors.

So do not ignore Generation Z, after all they are the ones who made Sam Tsui a YouTube celebrity and Justin Bieber globally famous. 

 

Comments

[Ivorium]

IMHO it doesn't matter anymore who was born when so Generation Z might not be the next big thing. The best explanation I've found on the topic was the Generation C- Constantly Connected Collective Consumers. More on that: http://blog.nielsen.com/nielsenwire/consumer/introducing-gen-c-%E2%80%93-the-connected-collective-consumer/

[Brandoctor]

Thanks for the comment Ivorium! We agree with you that age isn't as important as habits and wishes of a certain group. Generation C is a good example that combines some of the main habits of Gen Y and Gen Z. The main differentiation between the last two is that Gen Z was connected from the day one, while Gen Y didn't grow up on gadgets and social networking, but rather embraced them over time.