They’re young, they’re digitally savvy, they’re globally minded, and they have high expectations from brands. No, we’re not talking about millennials—every marketer’s go-to target group. This is Generation Z, the new kids on the block who are poised to become the next powerful consumer cohort.In the U.S., Generation Z (born from the mid-90s on) has been frequently cited as having an estimated direct spending power of over US$140 billion, and they influence family/household spending to the tune of over US$500 billion.
With the eldest Gen Z members now starting their careers, and their spending power growing every year, brands need to start focusing on this generation. However, they can’t just use their millennial marketing playbooks. Gen Zers are not an extension of their predecessors—they are a completely different breed. To win the loyalty of Generation Z, marketers must adapt and change their strategies or they will be left behind as this group matures.
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