By now, you probably know that Gen Z is the most hyper-connected generation. This means that by the time they all reach purchasing age, digital, online, and mobile-first marketing will be vital to your strategy. However, Gen Z still has some striking similarities to the generations that came before it.
As a marketer, and the millennial older sister of a Gen Z sibling, I see both similarities and differences between my sister and me daily. While we were raised in pretty different time periods and can't possibly be considered "the same," we still have a lot in common.
For example, we both love social media, care about our finances, and have very high standards of the products we buy. However, the ways we use social media, handle our finances, and purchase products are still slightly different.
If you're interested in testing out new marketing strategies that target young adults, you'll likely want to learn as much as you can about Generation Z, and what makes them different from past generations -- as they'll soon reach full purchasing power.
Even if you've successfully marketed to younger millennials in the past, you'll still want to prepare yourself for Gen Z by learning more about the nuances that make them unique. Through this research, you'll also be able to identify successful millennial marketing strategies that could still work on Gen Z. This will help you better scale your strategies to fit Gen Z, rather than completely reshaping your tactics in costly ways.
To help you build a buyer persona for potential Gen Z customers, I've compiled a list of stats that highlight Gen Z's unique qualities, behaviors, and motivations.
52 Gen Z Stats to Know in 2020
In 2019, Gen Z outnumbered millennials, making up 32% of the world's 7.7 billion-person population. (Bloomberg)
Gen Z members that still live with their parents receive an average allowance of $16.90 per week. (LinkedIn)
The generation has an estimated purchasing power of 44 billion annually. (LinkedIn)
Most Gen Zers (73%) use their internet-connected devices to communicate with friends or family. Meanwhile, 59% and 58% also use them for entertainment and gaming respectively. (Institute of Business Management)
While political or societal views don't directly impact purchases, knowing how a generation views certain topics could help you improve your level of inclusive marketing, identify opportunities for campaign topics, or develop products that relate to a pain point or cause that an age group cares about. Here are a few interesting stats to note:
70% of Gen Z says that financial responsibilities should be shared equally in two-parent households. (Pew Research Center)
While 76% of Gen Z women say that more females presidential candidates are a "good thing," only 54% of Gen Z men agree. (Pew Research Center)
When a form requires a person to select a gender, 59% of Gen Z thinks that the form should include an "Other" option. (Pew Research Center)
Half of Gen Z says society isn't accepting enough to people who don't identify as men or women. (Pew Research Center)
Despite Gen Z's connection to technology and social media, more people in the age group report feeling lonely than previous generations (Cigna U.S. Loneliness Index)
Preparing for Gen Z
While you don't have to change your whole digital strategy just yet, you'll definitely want to experiment with new ways to up your game and reach younger generations on online or mobile platforms. If you market to young adults specifically, you should be sure to take note of key Gen Z behaviors in order to cater your campaigns to them in the future. Here are a few pointers to get you started:
Audit your digital strategy, and see if you're missing out on any Gen Z-friendly platforms.
Aside from learning more about your customer, and developing a buyer persona, you should also note the key differences that Gen Z does have from other generations and avoid lumping this generation in the same demographic as millennials.
To learn more about what makes Gen Z so different from its previous generation, check out this comparison on millennials versus Gen Z.
Originally published Feb 3, 2020 7:00:00 AM, updated February 03 2020