In the world of marketing, the words Millennial and technology have become synonymous. And while some companies still struggle with wrapping their brands around the minds of Millennials, a new generation lurks on the horizon. Should brands be worried? Not necessarily. But being prepared for this new generation will be key. We would like to introduce to you, Generation Z.
Generation Z, the population born in the late 1990s or early 2000s, will be very different from Millennials. Generation Z is expected to be the most racially diverse generation in the U.S., with 52% being Caucasian, 25% Hispanic, 14% African American, 5% Asian and 5% being multiracial. While Millennials in their own right are a pretty diverse group, Generation Z will view the increasing diversity in a more positive light. With more friends that are from a different ethnic background than older generations, brands will have to amp up their multicultural marketing strategies to make their brands relevant to a wider range of ethnic groups.
An important difference between Millennials and Generation Z is the evolution of technology. Millennials remember a world where the Internet wasn’t in everyone’s home or mobile phones were still used with the sole purpose of calling someone. Millennials embraced technology as it became a bigger part of their lives, but Generation Z was born into this world. Technological adaptation won’t take place, it will be encoded in their DNA. And while technology shouldn’t be ignored, a focus should be shifted to understanding the most diverse audience ever seen.
Generation Z is growing up in a post-9/11 world and in a global economic recession, resulting in a demographic that is very socially conscious. They will expect nothing less from brands. Brands that can form a connection with this diverse group will have the most success. To do this, brands will have to incorporate various, yet consistent, messages that highlight diversity across a variety of platforms. While most of Generation Z is still too young to have their own form of income, one study shows that the control they have over household purchases like clothing and groceries is quite significant. The recent ads by Cheerios are a great example of a brand showing an understanding of how diversity will not only be accepted, but expected by younger generations.
The potential for success in marketing to Generation Z is at its highest right now. Millennials are the demographic that most brands have their sights set on, but Generation Z is right on its heels and will soon appear on every brand’s radar. When marketers think of Generation Z, the word diversity should immediately come to mind.
If you would like to discuss multicultural marketing strategies for your brand, give us a call.