Generation Z Will Account For 40 Percent Of Shoppers By 2020
Posted on August 20, 2018
Generation Z is coming into its own, and according to new research, it will account for 40 percent of all shoppers by 2020, reported USA Today.
Engagement Labs, the data and analytics company that assists marketers, says the group of people born between 1997 and 2016 are 86 million strong, and influence $600 billion of spending by families. This group is also big on conversations – both online and offline – with Engagement Labs finding them to drive 19 percent of purchases.
“You see an advertisement, people know it’s a paid endorsement,” says Brad Fay, Engagement Labs’ chief commercial officer. “It’s only got so much credibility … the most powerful messages are ones that come from someone you know.”
Engagement Labs surveyed 6,736 teens during the course of 12 months about what they talked about in the previous 24 hours, and found that those topics included gadgets, drinks and snack foods. Fay noted that they found Generation Z to be a very social group of people. As a result, digital devices from the likes of Apple and Samsung are going to be popular with this group, as are food and beverage brands.
Read the full PYMNTS article, here.
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