Topic: Successfully Selling to Gen-Z Customers
When it comes to shopping habits, Gen-Z consumers have been somewhat misrepresented. In other words, they are not always on Amazon shopping, though they are portrayed as relishing in the digital experience. Reaching Gen-Z is an important part of business, especially since they already spend over $140 billion each year. In addition, family members typically spend another $127 billion buying gifts for them.
A Generation of Influencers
Notably, Gen-Z is a generation of influencers, whether it is on Instagram, TikTok, YouTube, or other platforms. They both impact and are impacted by these platforms and other influencers, making great brand advocates for small and mid-sized businesses. In other words, they can be incredibly loyal customers that help bring attention to specific products or businesses, inadvertently helping to grow them. In fact, engaging Gen-Z on the very platforms they use is one of the best ways to successfully reach them.
Despite having a large digital presence, a study conducted by IBM and the NRF found that the majority of Gen-Z consumers (approximately 98%) still value an in-person shopping experience at a brick-and-mortar store and that this is still the main way they shop. Therefore, they may be less attracted to online-only retailers.
Assessing Gen-Z’s Values
Another way to successfully sell to and reach Gen-Z is to assess their values. Gen-Z is ripe with digital natives who are purposeful, frugal, inclusive, and value what their peers think. Since many remember the financial crisis of 2008 that took place during their childhood, financial security is valued. Therefore, Gen-Z loves a good bargain!
Additional values that Gen-Z harbors include social responsibility and taking care of the environment. This has translated into their buying habits. They want to know that they are making a difference and putting their money where it can help benefit society the most. Appealing to their social conscience is another way to engage with Gen-Z consumers. They do not want to only make a difference through their buying habits, but they also want to make a difference with their lifestyle and reflect what means the most to them. In fact, many aspire to become entrepreneurs or own their own business one day, thus easily connecting with small and mid-sized businesses over larger retailers.
Key Takeaway
Each generation is different, including their shopping preferences and purchasing habits. Generation Z is no exception, and many businesses have pondered how to successfully sell to them. In reaching Gen-Z consumers, it is important to remember that while they are digital natives, they value an in-store shopping experience, as well as shopping at small and mid-sized businesses that support their values system.
Topic Discussed: Successfully Selling to Gen-Z Customers
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