You can’t visit an industry trade publication webiste these days without seeing a headline about how to do XXX or YYY to reach Generation Z. Their spending power is less than older generations (for now), but that’s countered by how they are changing the workplace and societal culture.
I remember the excitement among marketers when baby boomers were about to hit age 50 in the 1990s. The group benefited from the post-WWII suburban expansion and the American economic boom. Every brand was salivating 🤤 over the prospect of tapping into their disposable income.
The main reason millennials surpassed boomer$ in brand interest was because of size. (Sorry, not sorry.)
As for Gen X (of which I’m a member), well, I just don’t recall much excitement from brands about you.*
While boomers and millennials are larger in numbers, the societal impact combined with the expected spending power to come from Gen Z is unprecedented. (McKinsey says Gen Z spends at twice the rate as previous generations at comparable ages.) So, can you really blame brands for the hubbub over Gen Z?
Societal impact + $$$$ = golden marketing opportunity. But don’t worry, millennials. I’m sure you’ll resume your twinkle in marketers’ eyes come 2031.
* If I missed the excitement over Gen X or you have something to say about what I said, hit me up.
If you liked this article, sign up for the SmartBrief Marketing Pulse, a daily look at the latest in shifts and performance data for marketers.