Mapping the Consumer Behaviour of Gen Z & Millennials

Summary

Millennials and Gen Z, comprising over two-thirds of the global population, wield significant buying power as digital natives. They primarily engage on platforms like Instagram, where their motivations have shifted from social networking to product research and support for charitable causes. Trust in influencers is crucial for these generations, who prefer peer recommendations over traditional advertising. Brands must communicate transparently and authentically, demonstrating their values and purpose. To connect effectively, brands should foster dialogue, build relationships, and prioritize ethical practices that resonate with these value-driven consumers.

Takeaways

• 😀 Millennials and Gen Z (born between 1981 and 2015) make up over two-thirds of the global population, representing significant consumer power.
• 📱 These generations are digital natives, spending almost three hours daily on social media, primarily through their smartphones.
• 🌐 The most popular social media platforms for these demographics include YouTube, Facebook, and Instagram.
• 🛍️ Social media is now used more for product research and supporting charitable causes than for personal networking.
• 🤳 75% of Gen Z and millennials follow influencers and often use social media to discover products.
• 🛒 Instagram serves as a modern shopping window, facilitating brand discovery and product research.
• 💬 Effective communication with these generations requires participation, favoring dialogue over monologue marketing.
• 🌱 Millennials and Gen Z are value-based consumers, seeking brands with a purpose beyond profit and supporting causes they care about.
• 🤝 Trust is crucial; 82% of these generations trust influencers more than brand messages, valuing peer recommendations.
• ⚖️ Ethical considerations play a vital role in brand trust, necessitating that brands take a stand on social issues relevant to their industry.

Q & A

What generations are referred to as millennials and Gen Z?

Millennials are those born between 1981 and 1996, while Gen Z includes individuals born from 1997 to 2015.

Why are millennials and Gen Z considered significant consumers?

Together, they make up more than two-thirds of the global population, giving them massive buying power in today's market.

What distinguishes millennials and Gen Z as 'digital natives'?

They have grown up in a digital world, making them highly tech-savvy and accustomed to using smartphones and social media.

How much time do millennials and Gen Z spend on social media daily?

They spend almost three hours on social media every day.

Which social media platforms are most popular among millennials and Gen Z?

YouTube, Facebook, and Instagram are the most popular platforms, with Instagram being particularly favored by millennials.

What has changed in the motivations for using social media among these generations?

The focus has shifted from personal networking to purpose-driven engagement, including researching products and supporting charitable causes.

What role do influencers play for millennials and Gen Z?

Approximately 75% of these generations follow influencers, and they rely on them for product recommendations and discovering new brands.

What communication style resonates with millennials and Gen Z?

They prefer transparent, authentic, and meaningful communication that reflects their values and involves them in a dialogue.

How can brands build trust with millennials and Gen Z?

Brands should collaborate with influencers, prioritize ethical matters, and actively support causes relevant to these generations.

What is the key to successful marketing to millennials and Gen Z?

Building relationships and creating a strong community through participatory and authentic marketing strategies is crucial.