P reviously, we had discussed the impact of Millennials on the market and make no mistake – they are still a powerful presence. But as many Millennials are reaching their 30’s and even becoming parents themselves, a new force is on the horizon. 2019 saw a new generational milestone – the first collegiate graduating class from Generation Z , who are about to enter the world en masse for the first time consumers as well as professionals. But in order to predict how the market responds, we should first try to understand what inf luences this young generation as well as the resources at their disposal. These five stats could provide a crucial glimpse: 1. Their lives are intertwined with technology If you thought Millennials were tech-savvy, you haven’t seen anything yet. As arguably the first generation to grow up entirely surrounded by the Internet and technology, Z-ers have a new nickname – the “digital natives.” And that nickname is a very accurate description. According to the Global Web Index, a whopping 98 percent of Gen Z-ers own a smartphone, including nearly eight in ten teenagers between the ages of 13 and 17. Another study showed nearly half use their mobile devices to research restaurants and products before making purchasing decisions. In fact, technology is such a huge part of their lives that another study revealed 80 percent of Gen Z-ers experience emotional distress when separated from their smartphones. 2. Social media reigns supreme – and Instagram is the new champion While Facebook has enjoyed a long run at the top of the social media hierarchy, it is about to be eclipsed by Instagram as the top platform to reach a broader audience. For one, it is the top method for brand discovery among teens. According to a survey by Euclid Analytics, Instagram was the preferred social media platform for new products at 45 percent, with Facebook coming in second at 40 percent. And that’s not all – Instagram has provided employment and even entrepreneurial opportunities for young Americans as inf luencers. Five Revelations Changing The Consumer Landscape
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