Now that we’ve hit the end of the generational alphabet with Generation Z (mid-1990s-present), we’re in the midst of courting a group born and cultivated with more market savvy than any who preceded them. Forrester Research has found them to be “demanding consumers” exposed to many brand choices. And, compared with their parents and grandparents, they are proving to be more resistant to persuasion and fully expect to have a say in the evolution of products they consume. Further, they’re digitally savvy, constantly connected and experience driven. They’re also looking for ultra-personalization in their buying choices and in how they connect with marketers and companies.
A study published by the Institute for Emerging Issues at North Carolina State University, http://bit.ly/1iRLUh7, found four trends likely to characterize Generation Z as consumers: 1) a focus on innovation, 2) an insistence on convenience, 3) an underlying desire for security, and 4) a tendency toward escapism.
It’s interesting to view these in light of trends recently discussed by Randi Zuckerberg, Founder and CEO of Zuckerberg Media, at Vocus’s Demand Success conference. Engagement, innovation, and crowd-sourcing were all highly touted by Zuckerberg as critical components to successful marketing in today’s competitive environment. Author and illustrator groups might want to take a turn at what companies like Google and Facebook have done with their hackathon initiatives – where employees are encouraged to take time every few months to stay up overnight, brainstorm and try out new concepts with the group based, not on what employees do in their day jobs, but on their individual passions. Zuckerberg said that at Facebook, many of their most interesting innovations had been conceived in that environment.
Per Gen Z’s second priority, we’re certainly seeing consuming made increasingly convenient and customizable. Purchasing today has much less to do with physical location or availability than with discoverability of products and services. Online shopping has prompted a massive shift, and now we’re hearing about almost instantaneous gratification, with the imminent package delivery by drones (which Zuckerberg believes is something we’ll see from Amazon in the next couple of years), and with 3-D printing of virtually anything you can imagine – and some I hadn’t – from designed-on-you clothing to printed spaghetti and pancakes to (and apparently China is working on this) 3-D printed homes you can live in. This ties-in with Gen Z’s desire for convenience and for products that have been personalized for them, so be prepared to have your customers want to engage more and more in the products they purchase.
Fun and engagement are also paramount to this group, and that’s where gamification fits in – and is prepared to be part of every minute of our daily lives. Having trouble waking up to catch your next flight? Snooze is an alarm clock app that pledges $0.25 of your own money to charity every time you hit the snooze button. Want to visually capture a day in your life as an artist to share with your fans? The Narrative Clip is a new wearable device that can take and store a photo automatically every 30 seconds. Wondering where your dog or cat goes when he vanishes out of site? Tagg or Tractive, which use GPS technology, give you the chance to virtually “ride along” with your pet as they prowl the neighborhood – good perhaps for authors overcoming writer’s block on that next animal fantasy story. And for sci-fi, it’s hard to imagine what’s next when there’s so much technology we couldn’t have even imagined five or ten years ago cropping up all around us — and which will be the reality for Gen Z. Next up, in the generational nomenclature – a group some are beginning to call Generation Alpha. Terrified to think what that may indicate when we meet them as consumers.