Understanding Generation Z for your business

The Millennials are getting older, and a new breed is making waves in society. “Generation Z” is becoming a buzzword these days. We read several articles differentiating this age bracket from its previous generation, the Millennials, which has become a household term globally.

Generation Z is the youth at present, which can help drive your business to success in the future. Before we get into Generation Z, let us first review the different age groups that comprise our current societies. Although individuals belonging in the same cohort may vary from person to person, there are distinct traits that are common in a particular peer group collectively. It is because they may have shared experiences due to the same trends that happen within their life stages. The exact year when a generation begins and ends are not defined universally because of the disparity in characteristics of such group in various geographic areas.

  1. Traditionalists – These are the people born in the late 1920s to 1945. They are also called the Silent Generation. As the name suggests, they are conformists and loyal. This generation is composed of those who have experienced World War II and other wars.
  2. Baby Boomers – Born in the latter half of the 1940s to the early half of the 1960s, the Baby Boomers are also the so-called the ”hippies”, “Generation Jones”, and other monikers. They have strong work ethics and are competitive and goal-oriented.
  3. Generation X – They are those born in the second half of the 1960s to the latter half of the 1970s. They are independent, hardworking and associated with work-life balance. This generation experienced the transition from analogue to digital.
  4. Millennials – This generation is made up of those born in the late 1970s and early 1980s to mid-1990s. Sometimes referred to as Generation Y, Millennials are tech-savvy and may shift jobs as they prefer more flexibility in work schedules.
  5. Generation Z – Persons born in the second half of the 1990s to mid-2000s.

Generation Z characteristics

The Generation Z is the youth of today. Some of them are already entering the workforce and making decisions actively. These are some of the qualities of the Gen Z, which you may find useful when you engage with them.

They live in a digital age. With all the current technological advancements, they can communicate and interact easily and fast through various social network platforms and smartphone apps. They access information with a click of a button. Brands convey their messages through mobile and social media marketing. Because of the large influx of messages, the Gen Z crowd will most likely respond to those with great visuals.

They are financially literate. The financial downturns may have occurred before or during the time they were born, and they grow up conscious of the need to save and prepare for their future. Many of them earn a living while still in school, and they are more entrepreneurial than their other counterparts. Given the amount of information, how-to guides and instructional demos available online, Gen Z members are more inclined to create a business and do things DIY.

They are realistic and practical. This generation is aware of the risks and dangers in societies, brought about by certain realities like terrorism and recession. They approach things with caution, leaning more on frugality and practicality instead of extravagance and idealism.

They think global. Most societies exist in multi-cultural settings nowadays. Borders are getting blurry because of the digital space. Travel and instant communication are more common and accessible. One can easily connect with others in various parts of the world. These factors allow Gen Z to be more inclusive and accepting, allowing them to approach things from a broader perspective.

The Gen Z crowd is your consumer and emerging employee. It is important that you know how to reach out to them, position yourself well in their consciousness, and make them an active part of your business. Which is why certain brands create communities that can support and drive their enterprise. You can learn from the Gen Z members with their fresh insights and creativity, especially if you aspire for an increased and more significant presence in the markets you target and the industries where you belong. It’s about time you take a closer look at Generation Z and include them in your plans.

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