Here’s food for thought: In two years, Generation Z will represent 40 percent of all consumers — and the demographic cohort currently influences “nearly $4 billion in discretionary spending,” according to the latest white paper from MNI Targeted Media Inc.
Authors of MNI’s report, “Generation Z: Unique and Powerful,” said this demographic, which are people born between the mid-Nineties and the mid-Aughts and are also known as the post-Millennial generation, “is influential in ways we are just beginning to see.”
“This generation makes sophisticated choices about identity, purpose and values,” researchers at the firm noted. “They’ve spent their lives surrounded by digital content and they know how to filter anything that lacks the right tone, language and relevancy.”
Citing various data from prior research as well as a survey the firm conducted of college students, the MNI report said Generation Z members are “driven by values” and strive to make the world a better place. Nearly 60 percent of the generation “consider themselves to be socially conscious.”
Vicki Brakl, vice president of marketing at MNI, said this “generation is always ‘on’ and they expect everything to be available in seconds. Marketers who consistently provide value and relevancy in their messaging, and their corporate actions, will earn Gen Z’s respect and dollars.”
Authors of the report described Generation Z as “not Millennials 2.0.”
In regard to “making the world a better place,” the MNI survey of students found that half of Generation Z said “a brand showing dedication to social impact, by giving proceeds to charity, being environmentally conscious, having strong values, or projecting an impact-driven image, is an important factor when they make purchases.”