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FUTURE CONSUMER

FUTURE CONSUMER

FUTURE CONSUMER

Who is the Future Consumer?

  • WHO IS GEN Z?

  • WHY SHOULD MARKETERS CARE?

  • HOW CAN IT HELP YOUR BUSINESS?

 

Marketers have spent extraordinary time and resources learning how to market to millennials over the past years. It’s now important for brands to understand the youngest of the five generations that are on the minds of marketers today. Brands should neither ignore Gen Z, nor should they treat them just like millennials. Gen Z has grown up in a post-9/11 world, has seen their parents struggle through the Great Recession and for these reasons, their world has been more uncertain and fraught with peril than it was for millennials coming of age. Since the size of this generation is growing rapidly, as is their spending power and influence, brands are wise to understand them now.

 

Because millennials and Gen Z are adjacent generations, it’s quite easy to make assumptions that these generations behave in similar ways. The data that is emerging about Gen Z says otherwise. Brands naturally want to resonate with this generation. Logic and past experience teaches marketers that they must reach Gen Z on its terms and the ground of its choosing.  Understanding how the growing influence of this segment is shaping the culture is imperative to connecting with it and becoming a brand that stands for things that matter to this generation. Marketers cannot afford to remain ignorant about what these young consumers expect of brands today.

 

Engaging effectively with Gen Z can certainly provide economic advantages: these future consumers already account for $29 to $143 billion in direct spending. It is also the fastest growing generational segment and on track to becoming the largest cohort of consumers by the year 2020, nearing the end of this generational birth year range. The brands that gain mindshare now with this generation stand to reap the rewards in the not-so-distant future. Understanding Gen Z brings other advantages to businesses: youth are often early adopters of trends that are widely embraced by broader groups of consumers, particularly in the areas of technology, food and fashion. For this reason, members of Gen Z are cultural trend bellwethers. As Gen Z enters adulthood their influence will grow, making them even more powerful advocates for the brands they prefer.

ANA Marketing Futures focuses on the innovations and trends that will shape the future of marketing to prepare brands for the challenges and opportunities that lie ahead. The population and demographic characteristics of consumers are constantly shifting. Marketers realize the necessity of understanding segments they are trying to reach and the behaviors and preferences of the members of those segments. Gen Z is the segment of the population born after 2001, or 2004, depending on whose definition you subscribe to. It is growing in size and importance, representing the future consumer for brands around the world. To understand what Gen Z is all about, and how to market to its members, we interviewed marketers and retail experts to learn about this future consumer.

Future Consumer Expert Insight

“Gen Z considers providing good value for a fair price a socially responsible behavior that delivers greater good. Beyond that, studies have shown that Gen Z is interested in racial, gender and income equality, as well as environmental issues. Standing up for these values is becoming a differentiator for brands.”

Josh Perlstein

CEO

Response Media

Future Consumer Expert Insight

Josh Perlstein

CEO

Response Media

“Gen Z considers providing good value for a fair price a socially responsible behavior that delivers greater good. Beyond that, studies have shown that Gen Z is interested in racial, gender and income equality, as well as environmental issues. Standing up for these values is becoming a differentiator for brands.”

Key Stats

ANA Marketing Futures and eMarketer have come together to deliver key stats and forecasts on the trends that will shape the industry for years to come.

Related Content 

Want to take a deeper dive into the future consumer? ANA Members have access to brand stories, case studies, and expert webinars you won’t find anywhere else.
Future Consumer Related Article 1

Strategies to Capture Gen Z Engagement

ANA. April 2018

The next generation of consumers influence $600 billion in annual spending, but catching their attention is no easy task. During this webinar, The Mom Complex shared how Generation Z will make products and parenthood their own and how brands will best be able to reach them.

Driving Profit through Gen Z and Millennial Cultural Trends

ANA. April 2018

When millennials entered the marketplace, they changed how consumers across generations expected brands to earn their loyalty and their dollars. Now, along comes Gen Z, and the consumer mindset has shifted yet again.

Understanding Generation Alpha

ANA/Hotwire. April 2018

Generation Alpha — a term coined by social researcher Mark McCrindle to describe the cohort of people born in 2010 onwards — will play, learn and interact in new ways. They are born into a landscape in which devices are intelligent, everything is connected and physical and digital environments merge into one. Hotwire and Wired Magazine partnered to study the behaviors of this generation, and their implications on marketing.

Be sure to visit our full future consumer content library for more great resources!

Get ANA's Future Consumer Report

Marketers have spent extraordinary time and resources learning how to market to millennials over the past years. It’s now important for brands to understand the youngest of the five generations that are on the minds of marketers today. Gen Z is growing in size and importance, representing the future consumer for brands around the world.

 

ANA Marketing Futures spoke with marketers and experts across industries to better understand what Gen Z is all about, and created a guide to help brands engage consumers in the future.

Download the full report today!

Download the full report today!

ANA Marketing Futures: Our Story

Knowing that marketers are increasingly challenged in their efforts to keep up with the latest trends and technologies, the ANA tasked itself with creating a program designed to help marketers anticipate—and prepare for—the future of marketing.

 

ANA Marketing Futures is what emerged. With a focus on innovative topics and emerging trends, ANA Marketing Futures provides resources that will influence and inform via member cases, research studies, and insight from industry innovators. Check back often to learn about emerging trends and become inspired to take steps toward the growth of your business. 

About the ANA

The ANA (Association of National Advertisers) makes a difference for individuals, brands, and the industry by driving growth, advancing the interests of marketers and promoting and protecting the well-being of the marketing community. Founded in 1910, the ANA provides leadership that advances marketing excellence and shapes the future of the industry. The ANA’s membership includes nearly 2,000 companies with 25,000 brands that engage almost 150,000 industry professionals and collectively spend or support more than $400 billion in marketing and advertising annually.

 

Learn more at ana.net

 

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