Thursday, October 8, 2015
Move Over, Millennial Moms, It's Time To Talk About Gen Z
Millennial Moms have been the focus of our attention for a while now, but smart marketers are already looking ahead to a generation of moms just appearing on the horizon: Gen Z.
Gen Z includes anyone born after 1995, so the oldest members of this generation are just starting to enter their twenties. Thanks to new research, we can already predict a lot about how to reach and relate to these future moms. And as the mother of a soon-to-be-11-year-old girl, I can attest to the accuracy of these findings.
They’re Large And In Charge
The first thing to understand about this new generation is its size and influence. Gen Z makes up one-quarter of our country’s population, and by 2020 they will account for 40% of all consumers. Even now, with most Gen Zers too young to make major purchases themselves, they’re exerting a powerful influence on their families’ spending. Indeed, 93% of parents say that their children shape their families’ spending and household purchases.
When I look at my daughter’s class picture, I see the changing face of American families. The last 30 years have seen a 400% increase in multiracial marriages, resulting in a 50% increase in the multiracial youth population since 2000. We can also expect to see a 7.6% increase in the Hispanic teen population in the next five years.
Read the entire article here courtesy of Mediapost.com.
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