Generation Z, those people born after 1996 make up 1/3 of the US population. And even now they have a buying power of $44 billion. This generation grew up with technology and social media, so as you look forward, you need to build a sales model and marketing channel that keeps that in mind,
They tend to be less willing to share information less likely to pick up the telephone and call you and more likely to want to do everything online. If you’re in consumer services, you’re going to see the impact of this generation in the early 20s. If you’re in more durable products like homes and automobiles, it may be a few more years, but the time is coming when this customer and their buying habits will drive your business.
You can start thinking about it now. Or you can wait until it’s too late.
about the marketing minute
Each week, host Lorraine Ball shares just a few words on a marketing topic. She boils down creative ideas, practical tips, and decades of real-world experience into a mini podcast which is always less than two minutes.
Look for these mini bits of marketing inspiration every Sunday. Then come back and enjoy the longer interviews every Thursday.