For many years, millennials were in the spotlight for brands and marketers. But as the next demographic block comes of age and their buying power increases, Gen Z is becoming a focus for marketers. There are various definitions for this cohort, but generally, Gen Z includes all of those born after 1997. One thing’s for sure: they’re the consumers on everyone’s lips nowadays.
With overall spending power of almost $100 billion, brands are looking to better understand Gen Z as their consumer habits start to take shape. As this generation enters adulthood, their spending power will only continue to grow as they enter the workforce and earn disposable income.
According to the Global Trends Among Gen Z report by Global Web Index, we know that smartphones are a must for Gen Z. This generation spends an average of 4 hours and 15 minutes every day on mobile, and this is a very high figure compared to other generations.
Accordingly, Gen Z, who spend the most time on smartphones, have some of the most important purchasing power in mobile. Therefore, while communicating with Gen Z, brands and marketers should plan their strategies according to this generation’s behavior, preferences, and habits in mobile environments.
In this report, AdColony is highlighting the most important differentiators and insights about this spotlighted generation, based on research conducted in partnership with Global Web Index. This report covers who Gen Z is, what drives and interests them, what they are doing in mobile environments, how strong their purchasing power is across different verticals, their behavior in mobile games compared to other generations, and how advertisers can reach them in the best possible way.
The report features seven sections for advertisers and marketers to keep in mind while building marketing and communication strategies for Gen Z and leveraging mobile advertising to engage their target audience.
Highlights from the report:
- The need for acceptance and belonging to a community are key characteristics of Gen Z. Around 2 in 5 say they are easily influenced by other people’s opinions — 17% more likely than the global average. Additionally, 73% say it’s important to feel respected by their peers.
- As one might expect for a younger audience, 63% of Gen Z lives with their parents, where 52% of the whole generation are students.
- 81% of Gen Z members say that brands should provide funny and light-hearted videos and content to entertain people. This approval rate goes down as respondents get older: 78% for millennials, 73% for Gen X, and 62% for Baby Boomers.
- Mobile games have since filled the need for socializing and providing fun moments to spend with friends. From a gaming perspective, 45% of millennials consider themselves as gamers, while this ratio increases to 54% for Gen Z.
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