Considering Generation Z

Always somewhat suspicious of such simplistic classifications.   Simply defining them  (generation Z, born after 1995) can create a narrative with a bias.   Does the narrative march on?     At least this piece admits that. 

Make Way for Generation Z in the Workplace      in K@W

As a group, they are “sober, industrious and driven by money,” reports the Wall Street Journal, but also “socially awkward and timid about taking the reins.” They are risk-averse and more diverse, says Inc. magazine. Forbes says they “want to work on their own and be judged on their own merits rather than those of their team.”

Generation Z is arriving, and they are different than previous generations – or at least that’s how this young cohort is being portrayed as it begins to enter the workforce. After the traditionalists, baby boomers, Generation X and Generation Y/millennials, we have Generation Z – that group born after 1995 now starting to graduate college.

But is Generation Z really different, and if so, how? When it comes to ascribing characteristics and accepting advice about a particular generation, caveat emptor. Over-generalizing about any group is a slippery business.

“We have to be careful that we are seeing people for the complex beings that they are,” says Wharton assistant management professor Stephanie Creary. Generational categories, she notes, might help us to understand commonalities. “But people are also going to behave in ways that are consistent with their multiple other identities. We want to make sure we are not creating biases.”   .... "

Individualization vs Personalization

Will Gen Zers push personalization toward individualization?     by Tom Ryan in Retailwire

According to a study from the IBM Institute for Business Value, Gen Zers find value provided at an individualized level — such as when it is delivered through promotions and offers that match individual Gen Zers’ specific needs and desires — as more important than personalized experiences shaped by the brand. 

The study, done in collaboration with the National Retail Federation (NRF) and based on survey of 15,600 Gen Zers from 16 countries, said that while individualization and personalization are similar concepts, they are initiated differently: ... " 

Press Release.

The Nature of Shopping for Gen Z

How much are specific 'generations'.  Still have my doubts about how different the generations are. Still worth paying attention to understand measures involved.

Shopping for Gen Z     George Anderson in Retailwire with expert commentary.

The 35th semi-annual “Taking Stock with Teens” survey from Piper Jaffray Companies shows that teenage members of Generation Z have increased their purchasing in the past year, and a slightly higher percentage of the time they spend shopping is taking place online.

Teens have increased their spending by six percent from the fall and by two percent overall from last year. Erinn Murphy, senior research analyst for global lifestyle brands at Piper Jaffray, said the increase in teen spending “mirrors the economic expansion we are experiencing broadly.”  The average amount of time teens engaged in online shopping grew to 19 percent, up from 17 percent.

By a wide margin, the place that teens prefer to shop is Amazon.com. Forty-four percent of the kids surveyed named Amazon as their top online shopping spot, up from 40 percent last year. As a point of comparison, Nike is the second most popular online destination among this group at eight percent. American Eagle (four percent), Urban Outfitters and Forever 21 (both at three percent) follow.

Food remains the favorite category in which teens spend their money. Teens from households with an average annual income of $100,000 spent 24 percent of their funds on food. Those from average-income homes (earning $56,000) spent 21 percent of their total the same way, CNBC reports.

Chick-fil-A and Starbucks are the two favorite restaurants choices for teens. The chicken chain (13 percent) is tops among upper-income teens and the coffee giant number two at 12 percent. Starbucks is tops among average-income kids at nine percent, followed by Chick-fil-A at eight percent.

Clothing follows food as the second most popular category among teens, with athletic and casual streetwear brands gaining favor. The top clothing brands for Gen Z teens are Nike (23 percent), American Eagle (10 percent), Adidas (six percent), Forever 21 (five percent) and Urban Outfitters (five percent). Nike is also tops among footwear brands (42 percent) followed by Vans (16 percent), Adidas (14 percent) Converse (four percent) and DSW (three percent).

Beauty products among girls and video games among boys represent the third most popular categories determined by gender. Sephora is the top beauty destination among teens, with 44 percent shopping there, followed by Ulta (28 percent), Target (11 percent), CVS and Walmart at three percent.
... " 

Generation Z is Coming

I am not a fan of generational labels.  I have seen too much variance within them to trust them much. But still, you have to know the definitions to follow what is said about this large scale age-based segmentation.  Quite an extensive survey.

 Useful piece in Knowledge@Wharton:

Millennials on Steroids’: Is Your Brand Ready for Generation Z?   It’s still early days for Gen Z — its oldest members are still in their teens or early 20s — but marketers are trying to get a handle on what they want and expect from brands. ... 

And now here comes Generation Z, the post-millennials loosely defined as those born between the mid- to late-1990s and 2010. Gen Z, which represents about a quarter of the U.S. population, is coming of age in the Era of Instagram; coming of age post-the Great Recession, and coming of age when an African American president and multiple women running for the title is a political reality. (This group hasn’t been the source of any generational angst yet, but give it time.)   ... "