Fashion was a social elixir before social media for previous generations. Now, social currency is built on experiences. The previously sought-after consumer, the Millennial, is now aging out of position. Their replacement? Generation Z! By 2020, Generation Z will be the largest group of consumers worldwide. The needs and behaviours of this group inform not only the next generation of shoppers, but the future of mainstream retail. This demographic poses a greater challenge than previous generation as media grows more fragmented and requires more precise targeting. Retailers cannot stand still. Many retailers need to change fundamentally to remain relevant for the most complex and critical shopper of all time.
This is the most culturally diverse generation yet! They aren’t aware of a “technology revolution”; they were born digital, a stage up from tech-savvy millennials. Global reaching events have shaped their context, reference points, fears, concerns, behaviours, and needs:
2007: iPhone, Google Street View, the Recession.
Social media, ecommerce, on demand services, today has shaped teens views and technology customises information, products and interactions for them. They are altruistic, self-aware, self-reliant, entrepreneurial and experiential. They are selecting, making choices right for them, regardless of the social context. They take inspiration from 1000’s of places, ignoring social signals and what’s “in” or “cool”.
Habits of Generation Z:
In next week’s blog, we tell you what steps you need to take to ensure relevance to Generation Z…