Generation Z, the generation born after millennials - according to a study by IBM and the National Retail Federation - commands more than $44bn in annual purchasing power. But how much do brands really know about Gen Z?
Here is some quick digestible information to sink your teeth into.
1) Gen Z is not only watching 35% less TV – 22% say they are spending less time reading blogs compared to last year.
2) Gen Z worry about data collected on them from companies and expect brands to make their data efficient for them.
3) This generation only responds to brands and publishers that use technology to tell stories in creative ways. According to Snapchat, its users spend around 30 minutes a day on the app and visit it around 18 times a day.
4) The days of sending CVs via traditional formats are long gone. Compared to older generations, Gen Z are eager to use Instagram (59%, compared to 21%), Snapchat (56%, compared to 9%), and Tumblr (17%, compared to 3%) to get into employment.
5) Gen Z love to interact with brands – they are just choosy about who they engage with. 55% choose brands that are eco-friendly, while 53% select brands that understand them as an individual.
6) Gen Z think VR, AR and all things iOS are the coolest things in tech.
7) Brands need to get creative if they want to capture a Gen Z’s attention – as they only have an 8 second attention span.
8) Gen Z are 29% more likely to make electronic purchases than millennials.
9) Gen Z spend up to 11 hours per day on social media.
10) 53% of Gen Z prefer to communicate in-person over instant messaging and email.