The new generation is taking over. By 2031, Generation Z’s income will increase by 5 times, surpassing that of Millennials’. The generation is over 2 billion strong worldwide; in the US, they compose 40% of the consumer base. Companies of all stripes are realizing that if they don’t already have a marketing plan for Gen Z, they need to make one. Fast.
What’s different about marketing to Gen Z? To start, Gen Z isn’t as swayed by a brand’s name as prior generations may have been. These consumers consider a company’s values to be more important. When deciding where to shop, Gen Z customers want to find companies with sustainability initiatives and robust inclusion policies. They will avoid brands with a reputation for scandals or discriminatory practices. To sweeten the pot, Gen Z surveys say that 73% of them will pay more for sustainably made products. Company messaging to Gen Z should emphasize the good a brand does for people and planet.
In getting the message to its intended audience, companies should pursue mobile-dominant marketing plans. Gen Z gets a lot of their information from social media, more so than any other age group. Go to where the customers are.