The way in which Generation Z is able to relate to and interact with brands is different than any other generation to date. Labeled the most disruptive generation, Generation Z’s income has been reported to increase by 5X by 2031. These numbers will surpass the Millennial Generation’s income, reach over one quarter of global income, and grow to over $2 trillion in global earnings overall. In addition, the spending influence of Gen Z is very impactful, as they collectively possess $143 billion in annual spending power. Brands like Google, Netflix, Youtube, and Amazon are just a few of the many that heavily benefit from the spending habits of Generation Z.
Gen Z has also been labeled as the diversity generation. With ages ranging from 10-22 years old, Generation Z is 48% non-white, 20% LGBTQ+, and 57% planning on enrolling in college following high school. All of these numbers surpass or challenge those of previous generations. Another important aspect of Gen Z habits is their brand loyalty and how they judge whether or not to purchase from any given business. Studies show that in 2020, Gen Zers trust in major corporations dropped by 10%. This is largely in part due to the level at which the values that Generation Z upholds aligns with the brands they choose to purchase from. Values like sustainability, affordability, ethicality, and inclusivity are just a few of the reported most important aspects of a business that a Gen Zer may choose to support.
Mobile-first marketing has taken over the platforms that are heavily populated by Generation Z in an attempt to change the way that consumers take in information and marketing tactics, so you should be mindful of your content creation. WhatsApp marketing strategies can also be helpful. Small platforms like Roblox and Twitch as well as larger sites like TikTok, Instagram, and YouTube are now doubling as marketing platforms, where brands can appeal to the new generation of consumers in a space that they feel most comfortable inhabiting. Like generations before them, Generation Z has identified and supported the brands and values that speak to them, paving the way for all businesses to follow suit and make the most of their marketing in the online space.