Generation Z is much more interested in experiences than products. The rise of service companies such as Uber, offering consumers instant services without having to purchase, creates the expectation of real time access to goods and services.
As a consequence of living in a world of experiences, the today consumers need to feel more and more engaged. This is why marketers have to create fun, cool, interactive, innovative and socially desirable products. But we should not forget that this “always online’ generation is constantly adapting to the newest technologies, so companies must stay focused on “what’s next” in order to keep up with this generation. Probably that in a few years the marketing channels considered hot today (online portals, social media), as well as unconventional marketing methods like virals, avatars, gaming will be history.
Multi-purpose functionality is also essential now and consumers are willing to pay more if the product provides more benefits. Taking into consideration that Generation Z is highly preoccupied about the world ecology, companies should also have in mind creating green products or developing programs targeting positive environmental change.
Through user-generated content, participatory marketing represents the new way to engage customers and create real brand ambassadors. For Generation Z, the celebrities are not the movie stars, but real people, just like them, with a strong presence on the platforms they visit. It’s also important to know that consumers are not attracted anymore by campaigns offering them “the chance” to personalize products, they want to define brands and be part of their DNA.
Here are a few characteristics of the Generation Z consumers:
□ Generation Z has an attention span of 8 seconds
□ They prefer shopping online for almost all their purchases
□ When not being online, teenagers like hanging out in malls and fast food restaurants
□ Youngsters spend more money on clothes, food and drinks than anything else, and their favorite eatery is Starbucks.
□ Their favorite movies are The Hunger Games and Divergent
□ Sport is perceived as a health tool
□ In terms of fashion, the fast generation prefers fast fashion: affordable brands (H&M, Bershka, Zara, Pull&Bear, Stradivarius) which can easily be renewed and can guarantee group membership.