Z > Y = $ How the Expectations of Generation Z Are Reshaping Branded Experiences
Everyone’s been talking about Generation Z and how they’re starting to transform things in marketing, science, politics, commerce, business and technology. If you heard that, you’re right. There’s a polar shift happening and it’s important that your brand is aware of what’s changing.
Here are some insights on how the expectations of Generation Z are reshaping branded experiences:
Generation Z is far less comfortable talking to friends or other people on the phone, I suppose this doesn’t come as much of a surprise.
More millennials actually identify with discussing issues over the phone with customer service representatives than others, only 38 percent of Generation Z prefers that particular method of customer support communications. If Generation Z can’t get support via text or chat communication they just open up their toolbox.
Generation Z prefers to solve most of their problems on their own. With just over 30 percent stating that they prefer to utilize online resources to problems with products or services compared to less than 20 percent of Generation Y.
Generation Z Prefers Solving Problems on Their Own
Generation Z is largely financially independent or at least desires to be
Generation Z is already managing their own money. Eighty-one percent make purchases all on their own, and 77 percent claim that they have a particular level of understanding on their own finances and 72 percent have their own checking or savings account. Pretty impressive considering their age.
Generation Z is more attuned with digital-wallet transactions than Generation Y-43 percent of Generation Z respondents said they had made such transactions in the past three months compared with simply 30 percent of Generation Y respondents. They’re more likely to turn to device specific payment options such as Apple Pay, with 33% mentioning that they had used similar tools during the last three months compared with 22% of Generation Y.
Generation Z is more than twice as likely to drop a brand for poor responsiveness
Generation Z is more than twice as likely to drop a brand for poor responsiveness with regard to customer service. 21% of Generation Z respondents mentioned that such experiences would likely to make them stop using a product, service or brand compared with just 9 percent of millennials.
They’re also more likely to drop a brand, service or product over poor design in their mobile features or slow responses in an online chat.
Generation Z is bringing a new order of empowered and entitled consumerism. Brands and customer support teams will need to work hard to keep up with these expectations of Gen Zers. Technology permeates all aspects of business, its distinction will eventually begin to dissolve.
To capture Generation Z’s attention, businesses need to go beyond thinking digitally. They need to become consumer obsessed and deliver experiences founded on the pillars of empathy and delivering value and utility.
If you have questions about Experiential Marketing or Generation Z Marketing contact BeCore today!
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