Editor’s note: Mark Macias is founder of the New York-based digital marketing agency, MACIAS PR.
Brands might be focusing their attention and marketing budgets on Millennials but Generation Z should definitely be on their radars.
In five years, demographic analysts predict Gen Z will surpass Millennials as the largest consumer population in the U.S. Outside of the U.S., Gen Z is already the largest and most diverse generation on earth.
Unlike older generations, Gen Z is more nimble and evasive, making it harder for marketers to reach and find this group. If your business wants to grow over the next 10 years, you have to learn how this cohort thinks.
My team recently conducted a consumer survey for the Gen Z news portal, Brooklyn Chatter, to better understand what the youngest generation wants. At the root, we wanted to see how Gen Z views work, wealth, social media and life after the pandemic.
Our survey involved 2,240 Americans, ages 18 to 24, and was conducted between March 18-29, 2021. Survey participants answered online questions spread across partnered news sites and popular Gen Z member groups, including Her Campus, Gals in Journalism and the Young Journalist Community.
Live and work
Real estate trends reinforce the general population’s move to the suburbs, but if you want to physically reach or employ Gen Z, our survey found you don’t want to approach them in the same way.
An overwhelming 65% of those surveyed say they want to live and work in a big city like New York, Boston or Los Angeles over the next two-to-three years. Only 10% said they want to “leave the grid” and move to a small town; and 12% said they would like to move back home. Another 12% say they see themselves living in another country.
And what is the ideal job for Gen Z? They aren’t looking for money or power. They want a job description that provides purpose and meaning, according to their survey responses.
While 62% of participants said they want a job that allows them to make a difference in the world, 15% said they are motivated by money and 15% say they want a job that gives them flexible work hours. Only 7.5% said they want power.
And if Gen Z is going to disrupt the workplace as everyone predicts, don’t blow up the office environment yet.
Less than 3% of Gen Z participants said they want to work remotely full-time. According to this survey, the ideal situation for them is half virtual and half office. Fifty-four percent said they want to split their work between an office and home, while 28% said they want to work full-time at the office. Fifteen percent want the freedom to create their own work hours.
Views on wealth and social media
The American dream is still strong and alive with Gen Z but nearly half of respondents (47.5%) believe the system is working against them, preventing them from achieving wealth.
More than a quarter of participants (27.5%) believe in the American vision, “If you work hard, you can achieve anything,” but a quarter (25%) think capitalism should be replaced.
If your business places any ad buys with social media, the results of this survey also shed insight on how to reach these consumers – at least in this present moment. No respondents named Facebook as their go-to app on their phone. Instagram maintained the top spot, with 62% saying it’s their first choice for social media, followed by Tik Tok (23%), Twitter (10%) and Reddit (5%).
This social media trend reinforces how Generation Z is disrupting the way brands reach consumers. Consumers are more fragmented today – and this behavioral trend is only going to become more pronounced as Gen Z gets older.
Reaching Gen Z
Brands need to understand that if they want to tell their story to this younger generation, it’s no longer a strategy as simple as taking out ads on Facebook or Instagram. Gen Z is the most educated generation in history and they have a sophisticated ability to digest information from multiple sources.
Yes, this generation has a shorter attention span, but that doesn’t mean you have to speak faster. It suggests you need to speak directly to them, and let them know how your story directly impacts their lives.
The good news – we have about five years to figure out this generation before they overtake Millennials with consumer market share. Of course, knowing Gen Z, they’ll probably figure out a way to make it happen sooner.