Forget the millennials. Are you ready for Gen Z? As a sponsor, are you targeting this group? As a property, can you deliver this group or are you trying to attract them? Generation Z in 2020 is basically those “kids” aged 8 to 23 years. This is a group that cannot recall a time without technology. In fact, more than 50% of them are connected online for over ten hours a day! It is estimated that, in the US alone, this audience has spending power of $143 billion! So, in Canada we could look at that as spending power of about $14 billion. Now are you interested?
1. Here is a bit of info to help you market to your Gen Z audience.Retail events are huge for this audience. Unlike the generation that came immediately before, Gen Z prefers to shop in person. But they prefer retail environments that are high-tech, interactive, and innovative. 75% say shopping in stores is better than online. They do their research and find the brands online, then buy in person. You must be very tech and social media orientated to help them find and visit you!
2. Yes, they are gamers and into e-sport. And they like community gaming opportunities so fans can be engaged as well as participants, such as with meet-and-greets as well as tournaments and events.
3. 50% of Gen Z consumers identify as racial or ethnic minorities. This makes them the most diverse generation to have roamed the earth. Thus, inclusivity is critical to them. 60% of this group prefers to see ads with diverse families.
4. Intimate festivals are a big draw for this generation. They are moving away from the high-priced ticketed major music festivals for more that deliver a specific passion or genre. They love music such as that of their predecessors, but have a huge additional interest in food and beverage, health and wellness, and extreme sports!
5. Environmentally conscious food is appreciated. This cohort is willing to pay more for “do-good” food. They want their brands to address issues such as packaging and food waste.
6. This year, Generation Z will surpass millennials as the largest global demographic (32%).
Be ready—oops, they are already here and spending money. Get focused! Your sponsorship program needs to include this demographic.
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