蘑菇AV

Win millennials, win Gen Zers too: For millennials and Gen Z, digital banking and personalization aren鈥檛 just nice-to-haves鈥攖hey鈥檙e a must. If these lag behind competitors鈥�, young customers will leave for greener pastures.

Marketers should play to social media鈥檚 positive traits: Gen Z adults have mixed feelings about social media use that can inform marketing strategies.

Like Gen Z, Gen Alpha does seem to care about brands鈥� values and their influence on the world. What this means for banks: Gen Alpha not only engages with brands through immersive, gamified experiences but also holds growing influence over household purchasing decisions鈥攊ncluding those of their millennial parents.

GLP-1 drug ads are especially effective with Gen Zers: 23.2% got a prescription after seeing an ad, compared with 9.8% who took no action. Sources. Axios. Ipsos.

Coca-Cola鈥檚 latest effort to win over Gen Z consumers falls flat: The company discontinued its Spiced flavor鈥攚hich isn鈥檛 spicy鈥攁fter just six months due to lackluster sales.

The marketing take: All FIs with digital investing options should be marketing these products to Gen Zers, positioning them as simple, self-directed, and seamlessly connected to everyday banking. When doing so, don鈥檛 forget to emphasize ease, flexibility, and trust to stand out from competitors and keep younger members engaged.

Growth is primarily being driven by Gen Alpha and Gen Z users, who use it for shopping and search. According to an Adobe survey conducted in March, nearly half (47%) of Gen Zers use Pinterest as a search engine. Tumblr鈥檚 having a moment鈥攂ut that鈥檚 not necessarily translating to user growth.

Subscription control鈥攚hich approximately one in three Gen Zers and millennials prioritize. To stand out, banks should offer customers more unique and enjoyable mobile app experiences through these upgrades and new features.

How Gen Z and millennials are forcing a realignment. This deck can help you: develop a media strategy and allocate budgets for campaigns (brands and agencies). Click here to view our full forecast for Canada social network users.

Gen Z and millennials make up an outsize share of child care, rent, student loan, and vehicle payers compared with other demographic groups, per Bank of America Institute. The impact: Young adults are spending less: In-store and online spending among 18- to 24-year-olds dropped 13% YoY between January and April, per Circana.

Forty percent of Gen Z adults have stopped purchasing from brands who contradicted or reversed DEI efforts. Our take: While brands may feel pressure to stay quiet this Pride Month, commitment to diverse audiences pays off.

The news: Social media and streaming platforms are driving content discovery for Gen Z consumers, who are consistently online and hungry for short-form content. Nearly three-quarters (72%) of US Gen Zers find new media content on social media platforms like TikTok or Instagram, per Toluna鈥檚 Gen Z Decoded survey, and 71% turn to YouTube.

Our take: While Gen Z prefers Tinder over other dating apps, 79% of Gen Zers already on the apps feel at least somewhat burnt out by them, per Forbes. Tinder鈥檚 consumer-facing use of AI could differentiate it from others and help decrease burnout while giving Tinder valuable data for other AI applications.

Two in 5 (40%) Gen Zers and 1 in 5 (19%) consumers have stopped supporting brands that reversed or contradicted their DEI commitments, per a March survey by Ad Age and The Harris Poll.

Unsurprisingly, adoption is highest among Gen Z (45%) and millennials (41%). However, there is a disconnect between consumer and retailer priorities. Retailers have so far focused their AI efforts on the early stages of the shopping journey鈥攖hrough tailored marketing, enhanced search, personalization, and automated customer support.

The platform maintains strong penetration with Gen Z, a key source of digital buyer growth. While platforms like Instagram also have millions of Gen Z users, Gen Z represents over 50% of Snapchat鈥檚 user base鈥攚hich isn鈥檛 the case for Meta platforms. Highlighting Snapchat鈥檚 ability to provide authentic social connection is critical in a time where many platforms are evolving toward broadcast models.

鈥淚f you鈥檙e a marketer looking to reach Gen Z, you need to be everywhere,鈥� our analyst Blake Droesch said. Although Gen Z is known to spend a significant amount of time on social media, tapped into newer buying behavior such as social commerce, they also rely on physical stores. Here are three ways Gen Z鈥檚 path to purchase stands out.

Gen Zers are the most open to on-device AI capabilities, with only about one-third seeing no value in integration for smart home devices (34%) or smartphones (32%). Our take: A focus on opt-out options and AI tools for information access and creative use could help tech players attract wary consumers.

Gen Z (55%) and millennials (62%) have made more travel purchases on their smartphones, compared with their older Gen X (44%) and baby boomer (28%) counterparts, according to March 2024 data by Hopper.

Gen Z is twice as likely as the overall population to discover products on social media (51.5% versus 25.5%, per our Path to Purchase research), but physical stores are their top choice for actually making a purchase.