Monday, October 17, 2022

Millennials vs. Gen Z and the eventual merging of digital vs. in person?

I recently saw a poll on Instagram asking how Millennials vs. Gen Z might respond in a specific situation, and the resulting answers got me thinking about other ways these two groups might differ. Coincidentally, I came across this article in AdWeek about how Millennials and Gen Z, who are often bucketed together as “under the age of 41”, are actually pretty different in a lot of ways that can result in advertisements aimed at both not reaching half their intended audience. That makes sense and isn’t that surprising in and of itself, but what I found interesting was the ways in which they differ – illustrating somewhat of a reversal in the seemingly ubiquitous trend toward online/digital-first experiences. Some examples:



Millennials

Gen Z

Escape

Technology provides an “escape”

Looking for an escape from technology

Connection

Social media as a one-way consumptive feed

Social media as a way to connect with people

Money

More likely to invest in a pricey experience/item

More likely to save money or spend on loved ones

Brand value

Accustomed to aspirational, elite brands

Interested in practical, authentic, impact-oriented brands

Online vs. in person

Prefer online shopping

Enjoy browsing in physical stores


Given that Gen Z is really the first digitally native generation, I would’ve expected them to lean more into digital experiences (vs. in person) and be more swayed by influencers (i.e. less authentic advertising strategies), so it was surprising to see this trend toward authentic, social, in person experiences. As technology advances in areas such as AR/VR and AI, I’m curious if this trend will persist or if eventually digital and real-world experiences will become so blended that it’ll be hard to distinguish one from another – e.g. if your VR/AR-enabled avatar is shopping in a simulated world representing real products and interacting with real people (albeit in avatar form as well), is the only difference between that experience an an “in person” one whether you’re burning calories physically moving around? And what are the implications for advertising?


Article: https://www.adweek.com/performance-marketing/dont-blur-the-lines-when-marketing-to-gens-y-and-z/

No comments: