Blink:
I just finished a research project validating Gen Z, the segment of population born from 1995 to 2010 (20.7% of total population), crave bold global flavors, thus will be a driving consumer force in global cuisine in the U.S. market. Marketers have been coveting Gen Z for years now. Why?
Read On:
Gen Z’s moniker is “digital natives” given that they grew up in a digital world, exposed to the internet, social platforms/networks, and mobile systems. According to the research company Morning Consult, 50% of Gen Z use social media daily, on average 2 hours and 43 minutes. Consequently, marketers believe they have a persuasive influence on people of all ages and incomes. Business Insider estimated in 2022 their spending power was over $360 billion in disposable income more than double the amount of spending estimated at the end of the last decade. Therefore, without over processing, Gen Z, approximately 68.6 million living in the United States, represent a sensible consumer base to target. Absolutely! However, smart marketers are always skating to where the puck is going to be, thus they are now beginning to focus on the next consumer demographic bucket, Gen Alpha.
Gen Alpha (a.k.a. “mini-millennials” because they are the children of Millennials) is the demographic born after Gen Z in 2010; the cutoff being born as a Gen Alpha is 2025. The first generation born entirely in the 21st century composed of children currently under the age of 12 who by 2023 the oldest will be teenagers. By 2025 they are estimated to be 2 billion globally the largest generation in history, which equates to mammoth buying power. How are marketers gearing up to tap into this demographic?
- A recent survey conducted by the market research company GWI revealed 38% of children spend most of their time on social media after school. The number jumps up to 43% on the weekends and they prefer online engagement instead of seeing their friends in person. In addition to their peer connectivity via social media, they are also socially aware of global issues and concerned about the planet’s environment. Consequently, marketers must be authentic/transparent in their communications and address how products, services, as well as industries (e.g., fast fashion) will impact the environment and society long-term. Gen Alpha want solutions.
- Given the social platforms Gen Alpha prefer (e.g., TikTok, YouTube, etc.) marketers need to be cognizant of the fact they are growing up during a content creator boom. They need to create experiences, not just products. One way is to encourage meaningful user-generated content.
Targeting Gen Alpha represents a new marketing challenge given they will evolve into the most socially aware and digitally savvy generation to date. More research needs to be conducted, especially how to effectively connect with them in the social media platforms and virtual communities they will heavily engage in. Smart marketers, time to skate to where the puck is going to be.
Opinions welcomed!