If you’re like us and pay attention to Digital Media landscape, you’ve probably heard a lot about Generation Y, or as we at Fullscreen like to call them, “The Connected Generation”. Gen C is a formidable and sought after demo for many marketers, and for good reason – they drive almost $500B worth of spending per year. However, closely behind Gen C is a new and even more connected generation, referred to as “Generation Z”. By most accounts, these family-data-plan-killing youngsters aren’t dissimilar from their predecessors. But as Gen C ages, the heirs to the digital throne will be comprised of a new type of consumer, one that is important to understand.
Gen Z is huge. In fact, Gen Z (ages 19 and under) is the largest population segment in the United States, larger than Baby Boomers or Gen C (Millennials). I know what you’re thinking, “Four year-olds don’t have credit cards, why should I care?” As it turns out, Gen Z has the next best thing.
On average, Gen Z receives $16.90 per week in allowance, or a whopping $44B in total. What’s even more encouraging is that Gen Z chooses to spend this money online at a higher rate than offline, researching on YouTube and other sites throughout the purchase process. The decision process is no longer as simple as dropping Gen Z off at the mall, we as marketers have to meet them where they congregate the most – online.
Gen Z is always online. 47% of Gen Z spends more than 3 hours per day online, not including the time they spend on school-related activities. Furthermore, 8 out of 10 utilize some form of social media and 76% of Gen Z report using their cell phones multiple times a day for online activities. Time to upgrade your data plans, people.