The youngest generation in the market, Generation Z, makes up 40% of all U.S consumers! With so many young people deciding which brands they are going to support, businesses are having to change their marketing strategies in order to stay relevant. Looking at Gen Z’s habits are the best ways to understand how they decide which products to buy and which brands to support.
Gen Z spends more time online than any other generation. This means they are always seeing different advertisements for products on different social media products. Brands are taking advantage of this increased screen use by taking their advertisements to some of the most popular platforms with Gen Z such as Snapchat, Youtube, and TikTok. Many Gen Zers will purchase products right from social media ads, so it is important that brands keep up their online presence.
It is predicted that Gen Z is going to surpass the earnings of previous generations in the coming decades. By 2031 Gen Z’s income is expected to grow to over $2 trillion in global earnings. This means that Gen Z will have an increased ability to support the brands they like. By staying relevant and interesting to the younger generation, companies can expect to reap the benefits from the next generation on the rise.