TEMPTING GENERATION Z

TEMPTING GENERATION Z Appealing to the younger streaming generation will be central to keeping retailers on the road to success

With 93% of households agreeing that Generation Z influences their family’s spending habits, its key for retailers to attract and retain the loyalty of these young and enthusiast consumers

They’re big savers, even bigger spenders, and have probably made at least one meal from Buzzfeed Tasty videos… Generation Z are the new heavyweights of consumer power. Born between 1997 and 2012, these customers may be young, but they know what they want and expect brands and retailers to pander to their needs.

Generation Z accounts for 40% of global consumers, and piggy banks have been swiftly replaced with smartphone banking apps. According to lending company Zopa, a third of Gen Z already have savings of at least £1000, and close to half believe savings are fundamental to their future.

Furthermore, of any working-age audience, Gen Z are the least likely to have racked up any form of debt (overdrafts, credit cards, loans, etc). This makes them an incredibly lucrative market to target as a retailer – less debt to pay equals more disposable income to spend on entertainment and gadgets.

“WAIT! WHAT DID YOU CLICK?” While Generation Z’s digital prowess might confound even the most able silver surfer, they can sift though, absorb and disregard copious amounts of digital information. This means that these consumers can easily distinguish content they care about from misleading jargon or advertising.

As screen multi-taskers, flicking between apps and switching often from one device to another, the simplicity and transparency of message delivery is key. If your website is poor, takes too long to load or isn’t fully optimised for mobile, there is a chance you have already lost that Gen Z shopper even before they’ve looked at your products.

When it comes to self-expression and bucking gender stereotypes, Gen Z values brands that lets them be them

The “streaming generation” has grown up in a world that’s incapable of operating without a screen. These consumers expect a level of immediacy and admit to finding happiness in the discovery of something new, whether it’s a band, videogame or clothing brand. If retailers are able to offer fast transitions between discovery, payment and delivery – such as emailing a game code, or next day postage – Gen Z consumers are likely to choose this over a similar product that they’ll have to wait a week for.

BUCKING THE TRENDS While a few ‘grown ups’ might still see gaming as uncool, esports stars and Twitch streamers are to many teenagers in 2020 what the Rolling Stones were in the 1960s. In the UK, around 85% of teenage girls age 13-15 spend at least some of their free time gaming, with an increasing number sh an interest in watching and participating in esports, as well as attending the live events. Generation Z is also bucking gender stereotypes and valuing self-expression. Gen Z is attracted to brands that value inclusivity, and it’s key for retailers to enable their customers to access the products they want without fear of alienation. The lines between traditional “girl” and “boy” products are more blurred than ever, and retailers who recognise this may be rewarded with loyal customers from Generation Z. A 2019 survey showed that Generation Z girls were more likely to buy professional DSLR cameras, drones, smartwatches and power tools (traditionally “male” products) than those in Millennial, Gen X and Baby Boomer age groups.

Knowing how to appeal to their younger customers can help retailers tap into a gold mine. Speak to your account manager to learn about stocking great products, building a strong online platform and Exertis’ digital distribution service, Ztorm.