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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Love this! Now I know what to call my kid, I didn’t realize he was Gen Z. (he’s 16) Can confirm, this list is bang on! But while I’m here, I just thought I’d add some things I’ve observed about his generation – from him and his circle of friends – they really don’t like being lumped in or compared with millennials, because they’ve heard all the disparaging remarks made. (not by me, well, except for bad days at work, but by society!) They want to be unique and perceived as “better” than millennials; this may even be their “currency” in a way. If I were to pitch to them, I’d appeal to their need to be recognized as a distinct, informed, motivated group.
Rri,
Lol… I love your additions and insights. Those notes and insights are really good and sound very accurate overall.
Thanks for those and of course the kind words. I hope all is well.
Truly agree with your words Brent! Not an easy generation to please with all of the “demands/requirements” they have, but they are willing to put in both their time and energy when organizations align with their personal beliefs!
David,
Thanks for the post. You nailed it. When they are committed and part of the cause / solution… they are engaged. Truly engaged.