How Young Adults are Changing Consumption Behavior
In a new article on MediaPost, Rebecca Brooks addresses how some of America’s youngest adults are changing the way we consume goods and services. Putting common misconceptions aside about Millennials and Gen Z , we can see that they are seeking the same adult milestones as other generations – but their journey is different. This has shifted their consumption and shopping habits in ways that marketers need to understand.
In the article she covers behaviors, and what they mean for marketers and brands, and advises them to:
- Avoid “categorizing” or stereotyping these younger generations – they’ll resist it
- Find balance between diversity and individuality – it’s a subtle but important difference
- Understand the financial hardships with which these generations are dealing – it is changing the way they shop
- Work on in-person shopping models – they like brick and mortar but it’s not meeting their demands
- Pay attention to just how ingrained the sharing economy is for these individuals and how this collaborative approach to goods and services is spilling over into other decisions
- Discover a balance between personalization and privacy -they like self-expression but are also hyper-aware of their own privacy
In short, Rebecca writes: “Brands are misunderstanding these younger generations at a fundamental level, but it is fixable. By identifying new marketing strategies to communicate effectively and impactfully, brands can reach generations that are more diverse and savvy than any other in history.”
For the complete article, visit: https://www.mediapost.com/publications/article/326780/adulting-ftw-americas-newest-grownups-shift-cons.html
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