As Generation Z’s consumer power accelerates—and this is happening swiftly—communicators are increasingly challenged to figure out what strategies work best for reaching this socially-conscious group of digital natives. New research from customer engagement software and services Khoros, in partnership with enterprise listening platform Talkwalker, reveals how brands can engage with and market to the Gen Z audience.
The report focuses on the growing importance of Gen Z as an influential force driving economic impact. Discover how Gen Z engage online and what matters most to them to deliver the digital customer experience they expect.
Key learnings and trends highlighted in the report include:
Gen Z has the power
As true digital natives and buying power that ranges from $29 billion to $143 billion per year, Gen Z’s have a high influence over brands and other generations—where to go, how to spend money, and the latest trends.
Buy now, pay later
The pandemic changed the way consumers shop, and for Gen Z, convenience and affordability are key. Online shopping experiences continue to trend upward, and new payment methods have grown in popularity like the “buy now, pay later” model. In fact, the analysis showed that the past three months made up 36 percent of the total “buy now, pay later” conversation occurring within the past year.
Gen Z cares, and so should brands
Gen Z is a sociopolitical-conscious group, so it’s important to understand issues they care about to create impactful marketing that resonates with them. Top of mind for this group includes environmental sustainability and purpose-driven brands that reflect their individual values and beliefs.
Take action with Gen Z
Learn best practices to stay relevant and on-trend across the digital landscape.
“Today’s consumers expect brands to give them personalized experiences throughout their entire journey, knowing exactly who they are, what they want, and what they value. This is especially true for Gen Z, a generation that’s shaping how other generations engage with brands and spend their money. Social and digital engagement solutions are key to knowing what will resonate with this audience to build more profitable campaigns, long-lasting relationships, and create customers for life,” said Katherine Calvert, CMO at Khoros.
“It’s vital that brands act on the real-time trends that matter most to consumers, especially when it comes to Gen Z, whose buying power has multiplied over the last year,” said Talkwalker CMO Elena Melnikova. “Our report, in partnership with Khoros, reveals the trends that will enable forward thinking marketers to adapt and improve their strategy for 2021, and beyond.”
The Smart Social Report, Volume 3, is the latest in a series by Khoros that unpacks the latest social media marketing trends to help inform social media managers and marketers’ digital strategies.