Generation Z and why they're you're most important customer
We can’t help it - we’re just That Girl.
That is to say, our generation has become a massive market influencer - and, more often, a disruptor. We makeup one-third of the planet, are flooding the workforce in droves, and are deepening our pockets by the year. Gen Z’s purchasing power is projected to hit 33 trillion by 2030 - but your brand needs to start prioritizing our demo in your marketing strategy now to capitalize on it.
Leveraging Gen Z’s unique consumer behaviors isn't just a strategic move for 2024 - it's an imperative for businesses aiming to survive the future of the market. Here’s why.
Market Influence and Spending Power
Gen Z is coming into some serious cash. Globally, we’ve racked up an estimated 450 billion in spending power. We make up 40 percent of the world’s consumers. And as wealth is transferred over from the previous generation, Gen Z is poised to inherit $72.6 trillion.
As the first true digital natives, we are driving seismic shifts in consumer trends, not to mention dropping billions into the global economy through our spending decisions. What does this mean for brands? Tapping into our demographic gives you access to a consumer base that is not only rapidly growing but also highly influential in shaping purchasing decisions across the market. That is to say, we’re a good investment.
Cultural Catalysts
Did I mention Gen Z is disruptive AF? Well, it’s true - we make and shape culture, especially as it exists online. From TikTok virality to Twitter discourse, we’re cultural catalysts firmly on the pulse of what's cool and what's cringe. And our distinct perspectives and behaviors have a massive impact on shaping consumer trends.
Staying in conversation with our evolving preferences and behaviors puts brands ahead of the curve, the best of whom tailor their products and services to what we’re talking about and where we’re talking about it. This dynamic signifies a paradigm shift - you’re going to have to adopt a more agile approach that prioritizes real-time engagement and responsiveness. But the brands that can tap into our cultural currency turn that clout into cash - and, in longevity, consumer loyalty.
Curated Communities
Gen Z loves to be different - and given that we’re the most diverse generation this planet has seen to date, it makes a lot of sense as to why. Our generation values connecting over shared distinctions; the only thing better than being different is being different together.
In the online space, this has shaped the way we create and engage content, blurring the lines between creator, consumer, and community. Whether it's a subculture on Reddit or a fandom on TikTok, Gen Z is actively seeking out space where we can curate niche interests in a collaborative community.
“My favorite content creator right now is @blkslvt. They post Black influencers who wear unconventional clothes, hairstyles, makeup, etc, and it inspires me to also wear whatever I want despite all the expectations and stereotypes placed on me as a Black woman.”
-23-year-old Black female college student from Indiana
Now, this may sound like hostile territory for brands - and in part, it is. Gen Z hates when randos mess up our carefully curated spaces. We value authenticity above all else, and brands that attempt to infiltrate our communities with overt advertising or insincere messaging get slapped with a block on a good day. But for brands able to identify aligned interests, niche online communities present lucrative opportunities for genuine connection and targeted UGC by empowering community members to create and share content. When done correctly, this type of organic connection can win you both a foothold within the Gen Z cultural landscape and a powerfully loyal customer base.