Gen Z Landscape: 5 Key Traits That Separate Gen Z and Gen Y
A look into the generations
Every generation is different and has something that defines them. Since all generations are affected by the changes prevailing worldwide, they also tend to change the world in their own way. Generation Z accounts for 18% of the population, while Generation Y is composed of 42% of the total population, and is the largest generation across the world, according to GlobalWebIndex (2018). Generation Z is comprised of true digital natives. They have been exposed to the Internet, social networks, and mobiles early in their lives. Gen Z is also extremely optimistic and focused on personal ambitions. Additionally, this generation presents different behaviors from the previous generations in many ways.
There is a continuous transition in terms of technical products with the movements of the generation. Social media came in with a bang and affected almost all the other media of communication. With the increased use of the Internet, there was exposure to the perks of using social media. Social media helped people across the globe to connect easily, which led to a shift in user preferences. Email and telephones were deemed outdated and less interactive compared to social media, as even texting became famous among Gen Y.
Gen Z, the social and health-conscious generation with higher exposure to the available technologies than Gen Y, is more interested in the fancy side. They are more curious about automation, 3D, and virtual reality. Additionally, this generation makes a notable technological shift toward robotics, where major developments are happening. This generation also uses smartwatches along with their smartphones for communication.
Key differences between Gen Z and Gen Y
While Gen Y and Gen Z are close in age, they don’t necessarily value the same things.
- Gen Z Is Big on Being Distinctive
This generation is inclined to be unique, as almost 45% of Gen Z said that they would like to stand out in a crowd.
- Gen Z Is Inspired by Cool Trends
This generation is over-indexed on the likelihood of spending money wisely on cool and trendy brands and products. They wish to buy fashionable and trendy things, bearing in mind the amount of funds they can dispose.
- Gen Z Is More Entrepreneurial
Gen Z is extremely likely to contribute to idea generation for new products and designs more than Gen Y. They want to customize products or services to their needs, rather than accept what’s being offered. This personality trait differentiates Gen Z from the previous generation.
- Gen Z Is More Venturous
The likelihood of trying new products rest on their side. They seek to develop through new experiences. 21% of Gen Z said that they are risk-takers and expect a brand to offer new cool and trendy products.
- Gen Z Is More Focused on Saving Money
Gen Z is more interested in saving money than Gen Y was at that age. While Gen Y is more inclined towards the entire purchase experience, Gen Z is attracted to purchases that would maximize the value of money. When marketing to Gen Z, a focus on high-quality investment and offering deals and discounts is a great starting strategy, as this generation follows conservative spending.
In a nutshell, Gen Z’s expectations from brands they buy from are different from what Gen Y looks for. Generation Z is more aspirational, economical, image-conscious, and informed when compared with Gen Y.
What’s Next on Gen Z’s Horizon?
Gen Z differs from Gen Y in various ways. Thus, brands cannot afford to simply replicate their marketing strategy for Gen Y despite both generations having a heavy digital lifestyle. Without engaging this new generation on its own terms, brands will fail to capture their hearts.
If there’s one thing that marketers need to keep in mind, it’s that Gen Z will not remember a time before the Internet because they are born exposed to it. While Gen Y adapted, Gen Z are true digital natives. They are multitaskers by nature as Gen Z leverage tasks across five digital screens on average, verses two for Gen Y. Also, they tend to listen to streaming services while doing tasks like reading e-books, chatting, checking electronic communications, and eating dinner.
Generation Z is widely recognized as the next consumer powerhouse. Given how socially aware and concerned they are, Generation Z seeks jobs that provide opportunities to contribute, create, lead, and learn. They are more interested in participating in social activism and working for their success, as they’re clearly engaged with social media. It’s time for marketers to learn how to reach them.
Brands that don’t adapt to the way Gen Z consumes messages will lose market share. Brands also might be misunderstood if their messages don’t communicate properly with Gen Z. Companies’ marketing messages need to be clear about what they stand for so that their brands are not interpreted as uninvolved in or opposed to social causes important to Gen Z. When it comes to communicating with these consumers, it’s all about the fit. To be heard above the noise, brands must communicate who they are and what they stand for consistently.
Praxidia, a Teleperformance company, evaluates customer experience for clients and offers expertise in consumer profiling with the help of audience analysis. We can help you to have a customized audience focused strategy. Connect with us today.