Welcome to #Adulting, GenZ
As William Gibson once wrote, "The future is already here -- it's just not evenly distributed." So if you haven't already, give a warm welcome to Gen Z -- the future. Not only are they emerging as a highly entrepreneurial generation with a desire to not only consume entertainment but also co-create it, they also have the spending power of 143 billion in the U.S. alone, according to this recent Bloomberg article.
How is Punch Bowl Social planning to connect with this unique and powerful demographic (who are currently between the ages of 7 and 22)? First, we don’t assume that we know what they want. They're telling us as they go -- through their desire for more non-alcoholic drink options and healthy-ish, vegetable-based fare, their likelihood to be influenced far more by friends and family than by celebrities and through their reliance on their mobile phones and disdain for traditional digital advertising techniques (be gone, pop up ads!). There are the strategic breadcrumbs being dropped along the way as Generation Z grows up and becomes the future of our consumer base.
What we may love most about this Generation is their passionate backing of companies that stand for a cause. Complacency has no room in our country's future. We've long been proud of what we hold dear at Punch Bowl Social -- we even put a sign on our front door stating what we stand for.
So - while we still have some time before Generation Z reaches their full spending power, we're watching, nurturing (and respecting) this strong group of individuals that will shape our future... surely for the better. And with that said, here's to the Class of 2019. Welcome to #adulting.
Affiliate Marketer | Life Coach | Mentor | Artist Music Manager
5 年Mr Thompson, I do a lot of research on generations and GEN Z, were actually born between 1995 and 2015. They are currently between 4-24 years old. This generation is very different than and previous generation as 80% of them coming from a trade school or college will have no student debt so they will have the buying power that no other generations have had. Also, there have been studies done that show Gen Z care about two things when they are buying products and that is the environment and how you treat your employees. Also, when it comes to web sites, Gen Z are very impatient and you have 4 seconds to grab their attention and if you don't, they will move on to another website. Also, most of these kids will not go past the first page the search engine finds. With all do respect, I believe businesses are going to have to accommodate all levels of generations: Baby Boomers (will retire in approx 10 - 15 yrs), Gen X, Gen Y, Millennials and the newest group Gen Z. Businesses might have to have multiple marketing plans, customer service plans, website plans, ect. My last comment is if your company doesn't have a social media presence by 2021, your business will not do well with the Gen Z folks. I hope this information was interesting.