Generation Z are the new Influencers
Millennials officially overtook Baby Boomers as the largest demographic in the United States, making them the “it” target market … for now.
Yet, it’s another group that wields household purchase influence on items ranging from food to clothing to furniture, even to vacation destinations.
Gen Z, the generation after Millennials, is approximately those born between 1996 and 2009. Quick math tells you this demo is, at the most, 21 or as young as 8. A marketer’s sweet spot would fall between tweens and up.
This begs the question: how did a group of middle schoolers, high schoolers and college kids attain so much spending influence on a wallet not belonging to them?
Chalk it up to their digital savviness. “Gen Z is the first generation born into a digital world,” said Ruth Bernstein of AdAge. “Gen Z is a generation of highly educated, technologically savvy, innovative thinkers. They look for solutions on their own. They set out to make things on their own.”
Unlike Millennials, who are cautious with spending and known to shop for digital bargains, Gen Z spends a hefty chunk of their earnings, whether it’s from a part-time job or an allowance. The rest, they save. Gen Z is wary of where they spend money and choose their brand loyalty wisely.
Read the full article at www.adforum.com