19 Jul Generation Z: Hey, Big Spenders!

The 20 million US children aged 8 to 12 are the new power players of consumerism. Yes, today’s tweens are now known as Generation Z. It has been estimated that they are spending $30 billion of their own money annually and influencing another $150 billion of their parents’ spending.

We’ve talked about the Millennials and Boomers as consumer powerhouses, but are you paying attention to the newcomers of this market? Keep in mind that they have attention spans that are less than 140 characters : )

Nielsen reports that this is a group of digital natives are on the cutting edge of technology, media, trends, and brands.

Is it so hard to believe that children can be the authority of the digital revolution?

How do they differ from the generations before them?

They can handle so much more information, and crave that stimulation. Things must be faster, shinier and more exciting to not only attract, but keep their attention.

This generation is given a much bigger voice in the family lifestyle. And this voice is relevant.

How can marketers can most effectively reach a demo that is notoriously hard to pin down and extremely savvy when it comes to ad messages? Easy – they want experiences, not products. Face it, they already know what everything costs and how to get the best deal. As a marketer, you don’t necessarily want to focus on them—you want to engage them.

Thanks to social media, Generation Z demands a more personal and up-close connection to their favorite brands. How are you reaching them?