This is ‘Gen Z’ – exploring the next generation of consumers | M&M Global

This is ‘Gen Z’ – exploring the next generation of consumers

A line-up of senior marketing professionals concluded the morning session at Future Foundation’s Trending 2016 event in London with a discussion about the habits of the future generation of consumers, ‘Gen Z’.

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Moderator Christophe Jouan opened by revealing some information about the habits of Gen Z, defined as those born after 1999.

A survey showed that, when asked whether a respondent would rather spend a month without friends or technology, the majority said they would rather live without their friends.

This demonstrates they view technology as more than just something to keep them busy, more like an extension of themselves and therefore feeling less pressure to project a fake persona, Jouan argued.

There is also a fundamental difference between Gen Y and Gen Z: Gen Y were introduced to tech in their teens, and, although they are very comfortable with tech, there remains a sense of novelty.

While Gen Z were reportedly more conscious of respecting others in order to be a good person than Gen Y (83% as opposed to 74%), they were less concerned about respecting their privacy (48% as opposed to 59%).

They are unconcerned by the effect of automation on the job market, as they think they will be well educated and have good jobs. Over half (52%) want a good career most from the future, with only 14% most wanting to be famous.

The survey also showed that fewer are in long term relationships and staying out beyond curfew than in 1997.

This information leads to a few conclusions about Gen Z. Firstly, performative perfection will no longer be an issue and secondly, they will be risk averse and comfortable with rules and regulations. Privacy will be dead, with a generation of cautious consumers, ready for a challenge.

Discussing which brands are ‘cool’ for Gen Z, BBC head of youth audiences Patrick Collins said that enablers like YouTube and personalities were leading the field, with companies like BBC’s service brands stuck in the middle. “It’ll be interesting to see how they reconfigure themselves,” he added.

Looking at talent, Collins said they had to be funny, relatable like a slightly older brother or sister and “have to have a thing”, for example, be good at a sport or know about gaming or makeup. “The third thing is quite different,” said Collins. “You can’t just be someone who leaps around and has fun, you have to have something of use to say.”

The Marketing Store planning director of kids, family and retail, Tuula Rea said that, when asked what they wanted to be when they grew up, most kids said bloggers, citing Pewdipie as an example. “His universe has become random stuff because you buy in to him and his friends,” she said. “He got lucky.”

Kik ‘PR guy’ Rod McLeod told delegates that Gen Z trust YouTubers more than celebrities.

Collins went on to discuss that to Gen Z, it’s more important to have social recognition from a small group that they really care about, and, although they were less interested in portraying a false image, they still craved validation.

With regards to social media platforms, Collins added “if you build it they won’t necessarily come,” reinforcing the importance of getting the right content in right places and offering something of value, plus understanding the underlying need.

Looking to the future, it is important to understand how value sets are changing and try to map out the value to make sure it doesn’t shift – whilst focusing on co-creation.

Anna Dobbie

Reporter

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