Gen Z will soon become the most influential consumer segment, with the next generation of digital natives already influencing spending habits in a big way – and that’s only set to increase.
That’s also driving big changes in the business landscape, from realigning your marketing approach around new consumer behaviors, to updating your checkout process in order to cater to increased eCommerce demand.
If you’ve not considered these elements in your planning, you’re already behind, and as we move towards the next big tech shift, in the coming metaverse, you’ll need to pay more attention to the key trends among younger users to maximize your potential.
To provide more insight on this, the team from Rave Reviews (via Now Sourcing) recently put together this overview of key Gen Z consumption trends, and what they mean for marketing and ad planning.
The infographic lays out some key stats and insights, including:
Gen Z already is already powering $143 billion in annual spent, along with an additional $127 billion spent on their behalf by family members
20% of Gen Z-ers identify as LGBT+, up more than 100% in comparison to previous generations, while Gen Z is also more racially diverse
Younger audiences are gradually shifting away from social media platforms in favor of engagement in other interactive apps, like Roblox, Fortnite and Twitch, which have also become key destinations for digital events
That last note points, once again, to the coming metaverse shift – as younger audiences who’ve grown up engaging in virtual worlds, look to the next stage, facilitating the same on a broader scale, and for wider purpose, makes a lot of sense.