What does generation Z want from the businesses they choose?
Generation Z – those born after 1995 – are growing into the position of most-sought-after consumers, with $44 billion dollars in buying power already. So what does this new generation want from the businesses they choose?
Internet Presence
GenZ has grown up in an online society; their first means of discovering something new is seeing it online, in an ad, on social media, in a blog. They are used to being able to click away to something that better meets their requirements quickly, so businesses need to grab their attention in 8 seconds or less. This is not about a short attention span as much as it is that they have had to learn to filter enormous amounts of information. Once their attention is caught, they can be incredibly focused. Your company internet presence needs to have high-value information to avoid being filtered out.
GenZ is used to ordering and paying for things online. They want to have a variety of ways to pay for services and goods available right on your website, and they expect that process to be seamless and efficient.
Good Value
GenZ is very careful with money. Even at their young age, they are saving, planning for retirement, and carefully choosing what they spend their money. They grew up in a recession, and have seen their parents and families struggle with money. They expect good quality and high value, and they have strongly negative reactions if something breaks or goes wrong. They avoid debt and try to keep risks low.
They avoid debt and try to keep risks low. They do research before making purchases. They look at online reviews, they check with friends, they ask about companies and products on social media. They expect good quality, high value, and have strongly negative reactions if something breaks or goes wrong.
Customized Products and Service
GenZ seeks individuality and being able to make something “theirs”, so they look for the ability to customize or personalize what they get. They want to have options from which to choose and to have the feeling that what they are getting was specialized just for them.
They want interactivity and responsiveness from their businesses. They expect a business to be loyal to them, as the customer; if they don’t sense that, they won’t have loyalty to the business and will move on. As the first generation that has grown up connected, they are well aware there are always other options if they are unhappy.
Speed
GenZ is used to quick gratification – remember the ‘one click away to something better’ mindset? They expect things to be delivered quickly and promptly. They are very impatient with lateness or delays.
They put a very high value on being able to find what they want quickly and easily. If one business’ website is difficult to navigate, slow to load, or has a complicated checkout process, they’ll just go to a different one.
GenZ has many things in common with the generation that grew up in the Great Depression, but with a highly individualistic, high-tech twist. Businesses need to be able to meet the unique needs of the up and coming generation of customers.
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