Gen Z, also known as the iGeneration, has become a buzzword in the business world over the past few years. This generation, born between 1997 and 2012, is rapidly becoming an important demographic that businesses need to consider when creating their marketing strategies.
As a result, it is critical for entrepreneurs and business owners to understand how Gen Z makes purchase decisions and what factors influence their buying behavior.
Now, let’s go ahead and discuss the major factors, preferences, and behaviors that Gen Z takes into account while making purchase decisions.
The Importance of Building Authentic Brands
When it comes to branding, Gen Z is a group of consumers that are not easily swayed by traditional advertising or marketing tactics. Instead, they prefer authentic and genuine brands that are able to build a connection with them.
For instance, businesses that share their social responsibility and commitment to the environment tend to appeal more to Gen Z. Therefore, it is essential for companies to create messaging that effectively communicates their values and mission.
The Power of Social Media
Social media is an integral part of Gen Z’s lifestyle. They are always connected and use social media to stay in touch with their peers, family, and brands. In fact, more than 80% of Gen Z spend at least an hour a day on social media.
They use social media to gather information about products, read reviews, and make purchases. Thus, being active on social media platforms and creating engaging content is essential to reaching and engaging with Gen Z.
Influencers & Authenticity
Gen Z puts a high value on authenticity and values the opinions of people they trust. Instead of relying on traditional celebrity endorsements, Gen Z is more likely to be influenced by micro-influencers who are authentic, relatable, and share their values.
Micro-influencers create content that resonates with their audience and can be powerful advocates for brands.
Mobile Shopping Is the Future
Gen Z is the first generation of true digital natives. They have a strong connection to their mobile devices and use them for everything from socializing to shopping. It is essential for businesses to have a user-friendly and mobile-responsive website, as well as offer mobile payment options, such as Apple Pay and Google Wallet.
Without a mobile presence, businesses are likely to lose out on a significant portion of potential customers.
The Importance of Cause Marketing
Lastly, it is essential for businesses to align themselves with causes that are important to Gen Z. They are more likely to purchase products from companies that have a social purpose and a genuine commitment to making a difference.
Thus, companies that show their support for diverse groups, such as Black Lives Matter and the LGBTQ+ community, have greater appeal with Gen Z. Gen Z is a unique and important demographic with a set of defined values and preferences that businesses should consider when creating marketing strategies.
Businesses need to adapt and evolve their marketing strategies to appeal to this generation of consumers. By considering these factors, entrepreneurs and business owners can succeed in marketing to Gen Z. Ideally, in a way that resonates with them and stands out from the competition.