Mon, 19 Nov 2018
Although Generation Z and Millennials may seem very similar to some, they are worlds apart when it comes to marketing. In this article we highlight the three critical differences that marketeers need to know between millennials and Gen z.
1- Online shopping: Generation Z doesn’t shop online like millennials do. According to a survey, around 75% make at least one online purchase per month, compared to only 49% of Gen Zers. Could the high-street be on for a comeback?
2- Gen z uses more digital platforms than Millennials: Gen Zers have an 8-second memory span, which falls short of the Millennial’s 12 seconds. Generation Z doesn’t just have a shorter attention span; they also juggle more screens. Millennials 3 screens at a time on average, while Generation Z tends to bounce 5 screens at once. They are masters of multi-tasking.
3- Loyalty programs: According to a study by Ernst & Young, 30% of Gen Zers prefer to engage with brands on their own terms. They think loyalty programmes are a good thing, but they don’t consume them like their neighbouring generation. 50% of Millennials, see loyalty programmes positively and appreciate being rewarded for their purchases.
In conclusion, if you are marketing to the youngest generations you should consider these three differences between Generation Z & Millennials: online shopping, the number of digital platforms they use and how they consume loyalty programmes. Following these tips could differentiate your business from competitors at Christmas.