A couple of weeks back, we went to hear all about how established brands have successfully reinvented themselves to appeal to younger audiences – millennials and Gen Z. We cracked some glowsticks and slapped on an emoji mask, ready to begin.
No, really – we did.
The talk was given by Joeri van den Bergh based on his bestselling book How Cool Brands Stay Hot. There were some super interesting insights – some of which we’d love to share with you.
62% of 4-10 year olds have a weekly allowance – 80% of which is spent.
Millennials have an 8 second attention span – that’s shorter than a goldfish…
They’re SNAPPY – they are very visual, and emojional in the way they communicate.
The most used ‘word’ in texting in 2015 in fact, was the heart emoji <3
This also means Gen Z are impatient. Something might be tl;dr (too long; didn’t read), yet they will still have an opinion about it.
Impatience also paves the way for ‘phygital‘ developments, such as a button on your washing machine that you can press to order more washing powder via Amazon (or in the future, that can predict when you need washing powder before you even have to press the button).
They’re SOCIALLY ENGAGED. Gen Z rank racism, climate change and third world development highest on the agenda.
A 141 brand proposition is extremely strong. TOMS for example give away one pair of shoes for every one that is bought – and have given away more than 60 million pairs to date.
However they rank PERSONALISATION as a higher brand characteristic priority.
The ME-conomy is booming. Gen Z are empowered by making something totally unique and their own through customisation.
This is especially evident with ‘perfection fatigue’ and the popularity of more interesting and relatable ‘perfectly imperfect’ products and people (eg Lena Dunham, Jennifer Lawrence).