Connecting with the younger generation is a whole different ballgame. However, there is no gainsaying how essential it is to do so for businesses and brands that want to thrive in the modern world. In order to bridge this gap, we must first understand how they think and what they require.
What Makes the Young Generation Tick?
- Driven by Purpose: Young people are on a mission to change the world. They seek out businesses that share their values. In a 2022 study by Ipsos, 73% of Gen Z were willing to invest in or pay 10% more for products and services from brands that resonated with their principles. This is your cue to incorporate the element of emotional connection into your brand identity. What are consumers willing to pay for sustainability? Find out here.
- Value-conscious: Quality and affordability matter. While Gen Z is mindful of cost, they don’t compromise on quality. Over 60% of Gen Z consumers consider the quality of products to be the paramount factor influencing their purchasing decisions. They want products and services that provide bang for their buck. This is how businesses are reaching price-sensitive millennials. read more. More insights are here.
- Tech-Savvy: Technology is their playground. Youngsters are accustomed to integrating technology into every facet of their lives. Studies show that over 82% of Gen Z and 72% of millennials, a.k.a. Gen Y, use smartphones regularly.
- Social Butterflies: Connection is key. They yearn for a personal relationship with businesses and a sense of belonging. About 80% of consumers are more inclined to purchase from brands that engage with them on social media. This is how consumers find the perfect product here.
Stay tuned for more insights and strategies about engaging with the new generation.
Other helpful links:
More on how generations shop: https://blog.hubspot.com/marketing/how-each-generation-shops-differently.
African Millenials Media Consumption by Geopoll: https://www.geopoll.com/blog/african-millennials-mobile-usage-and-media-consumption/
Understanding Generational Differences in Consumer Behavior: https://www.linkedin.com/pulse/understanding-generational-differences-consumer-behavior/