Generation Z (Gen Z) will account for the majority of U.S. consumers in just five years. Like millennials, these "digital natives" have high expectations for how and where they spend their money. Both want a mix of value and quality. We compiled this report to help provide some insight into Gen Z to help you future-proof your brand and attract a new generation that is coming of age.
For the purposes of this report, anyone born in or after the year 1997 is part of Gen Z. We hope you find these strategies useful.
Gen Z is keen on bringing societal change. To do that, they'll let their wallets do the talking. To have a seat at the table, storytelling needs to be a significant part of your product and brand marketing strategy. Brands must build relationships with the tech-savvy, mobile-first generation and highlight their social responsibilities: inclusivity, diversity, sustainability, environmentalism, company culture, and product development.
Artificial intelligence (AI) is already part of our daily lives, but the implications of this technology are just beginning to be explored. Generation Z is the first generation to grow up with AI and will soon be the largest consumer group in the U.S. and worldwide. As a result, brands must figure out how to integrate AI into their marketing strategies.
Convenience and flexibility have become huge factors in consumer behavior online. It's important that brands remove as much friction at this stage of the sales funnel by offering Buy Now, Pay Later. Gen Z sees (BNPL) as a "safer" option than credit cards. According to fintech company Klarna, the average outstanding balance is about $70.
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