You might ask yourself who the Generation Z is? The answer is all those born in 1995 or later. They are the generation who comes after the millennials. In the USA, they represent 26% of the whole population, and they bring in 44 billion dollars to the US economy a year. By the year 2020 the generation Z will represent one third of the population and they deserve to be taken into account, Huffington Post is sure of it.
It is good to know the differences between the generations, it’s easier for companies to make business plans, plan their marketing and communication activities and stay relevant in the market
1. Less Focused
Generation Z live in the world of constant change and improvements, it is important for companies to constantly improve their products and services. Generation Z follows trends via apps and social networks and through short and concise content. Their attention span is shorter than that of Millennials.
2. Versatility
Although Generation Z are less focused than their predecessors, they are very good at combining their job and free time, and they are not averse to versatility. Just think how much they could improve your company if they worked for you.
3. Finances
Millennials are mindful of prices, probably because they grew up in a recession. Research shows that 67% of Millennials visit a site to try to win a coupon, only 46% of Generation Z would do that.
Millennials watch adds. Research shows that 79% of millennials watch adds before purchase, only 59% of Generation Z follow that pattern.
4. Entrepreneurship
Generation Z aspire to a more relaxed working environment and a more relaxed way of life as whole. 72% of teenagers would like to start their own company in the future.
5. Expectations
Generation Z have higher expectations than Millennials. They were the first generation to grow up surrounded by technological innovations, and all that seemed impossible in the past is now commonplace and ordinary for them.
If they can’t take part in something here and now it’s not normal for them. They view brands in that way. There is no loyalty. If they think they are not valued as a customer they will look for another brand.
6. Individuality
Generation Z were born in the era of social networks. 92% have a digital footprint. They are looking for a unique experience in all walks of life due to their exposure to media and information.
7. Globality
Gen Z are global. With the development of Internet, Millennials were considered to be the first global generation, but the Generation Z is more global in its thinking and interactions. Around 58% of people over 35 years of age agree that today’s kids have more in common with their peers around the world than the grownups they are surrounded by.
