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Move Over Millennials, Gen Z is in Town

Posted on: September 25, 2018
Tags: Millennials, Generation z, Consumer buying habits, Marketing research
Move Over Millennials, Gen Z is in Town

Move over, Millennials. The next generation of consumers, Generation Z, is disrupting shopping habits.

A study by Deloitte finds that members of Generation Z like to shop in stores and are highly interested in well-known brands.

Generation Z -- defined as those under the age of 22 -- spend 68 percent of their shopping time in a physical store for food and beverages, 58 percent for household care products and 51 percent for personal care items. Online shopping is mostly reserved for footwear and apparel.

Below is what you need to know about Generation Z

This age group, along with Millennials, savors brand names, especially when it comes to health foods, nutrition and grooming products.

An NPD Group look at Generation Z members finds that they view themselves as a brand "with a story and values by which to live. They seek brands that support that story, and they are willing to use them regardless of a brand's size."

The top brands for this age group according to Ypulse youth marketing group are YouTube, Doritos, Oreos, Netflix, and Hershey's, according to Business Insider.

The Deloitte study aims to disprove the theory that age matters most when it comes to figuring out brand marketing strategy. Instead, it identifies four buying segments -- all that cross generational lines -- that might better define what form of targeting works best.

Generation Z members are more likely to be "aspirationalists," and comprise 13 percent of the population. Other buying segments include "discerning achievers," "pragmatists," and "responsible go-getters."

Click here to read the full article by Betsey Guzior.

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