For long, the consumer cycles have been defined around the millennial generation. Now, Generation Z is coming to the fore, at least in the USA. Those belonging to this gen, were born sometime between the years 1996 and 2012, and are now becoming vocal about their choices. They so far seem to be enjoying the brick- and- mortar store experience. Brands are less important for them. They care a lot about experiences and spend money on hobbies, in contrast to the millennials’ travel splurges. Social media is of great importance to them, so digital marketing is one effective way of reaching them. Within the gen too there are some sub- segments. One is of those between the ages of thirteen and seventeen, while the other is for those between eighteen and twenty- three. The importance of online reviews seems declining for the Generation Z, but referrals’ significance rising. Experts, celebrities and influencers are now garnering even greater sway on buying trends.

Source:https://www.mckinsey.com/industries/retail/our-insights/the-young-and-the-restless-generation-z-in-america

Uploaded Date:17 July 2020