The Gen Z population, those born between 1997 and 2012, recently surpassed Baby Boomers as America’s largest generation. And they’ve got money to spend.
1. Watch their buying power grow
Despite their youth, Gen Z boasts $360 billion in disposable income – according to a 2021 Bloomberg report. That’s more than double three years ago. And the oldest Gen Zs just entered the workforce.
When you get Gen Z, you’ll likely get Gen X too. A separate report from the National Retail Federation showed Gen Z heavily influences their parents’ buying decisions.
2. Stay Alert for Frequent Changes
Is it really surprising that tweens like M&Ms, Oreos, or Skittles? Will those still be on Gen Z’s list of top 40 brands when they reach the age of 30? Most likely, their preferences will mature just as they do.
Also, keep in mind that a 10-year-old’s wants are very different from the desires of someone 25. That could be why many surveys report a very diverse and hard-to-please Gen Z. Plus, the fact that some reports only survey Gen Z adults and others lump them in with Millennials.
3. Reach them on social media
They often research products and discover new brands through social media. Which channels do they use the most? YouTube tops the list on every survey. After that, results vary and may depend on gender. Other popular channels include Instagram, Snapchat, TikTok and Facebook.
Tips:
- Narrow your audience
- Choose more than one social media channel
- Post your sales and deals
- Use paid advertising as well as organic posts
- Collaborate with influencer who is authentic to your brand
4. Make it easy to do business online
Whether that’s through your website, an app, or social media, Gen Z finds companies online – even though they do like to buy in person too.
Tips:
- Provide a seamless shopping experience through your website, app, or social media
- Offer Apple Pay, Google Pay, Venmo or other digital payment options
5. Be young, trendy, and funny
But you don’t have to be all three. Choose what works with your brand.
Tips:
- Try humor in social media or ad campaigns (Watch this M&M compilation video for inspiration)
- Personify your brand or consider a mascot (Think Chick-fil-A’s cow)
6. Personalize your message
Gen Z expects it – especially when it comes to food and beverage.
Tips:
- Target ads to those who have interacted with your website or social media
- Personalize messages through social media and email
7. Offer them rewards, deals, and experiences
And yes, they want to see those through social media.
Tips:
- Give an influencer a code for their followers
- Offer them a VIP deal for being a subscriber
Wondering what Gen Z strategy would work best with your business? Schedule a call. We’d love to help you.
