For as long as I’ve been working in branding, I can’t remember a target audience our clients felt they knew as little about as Gen Z.
To be fair, part of this confusion comes from a lack of clarity around the age bracket Gen Z encapsulates, as well, I believe, as a hangover from trying to understand the Millennial market. While “Generation Z” has become shorthand to refer to current young adults, Gen Z is generally accepted as a group of people born between the mid-1990s and the mid-aughts – which overlaps the definition many brands use for Millennials.
Some of the top line insights that are enough to make most marketers sit-up and pay attention:
• According to Forbes, Gen Z allegedly has the attention span of about 8 seconds, compared to the millennials’ 12.
• By 2020, Gen Z is expected to have $44 billion in buying power. This is huge because they will account for 40% of all consumers.
• 33% of our survey participants bought an item in the past month as a direct result of seeing it on social media.
This is a generation of consumers whose behavior is increasingly unrecognizable to Gen Xs and Baby Boomers who own many of the businesses and brands looking to market to this audience. To help provide clarity, the very smart crew over at Campaign Monitor have put together an infographic loaded with insights into Generation Z and have shared that with us to share with you.