By Jim Fisher
jill111 / Pixabay
Much has been analyzed about the Millennial generation (now roughly 23 to 40 years old) and the distinctive values and impact they represent. They are, after all, larger (about 75 million) than the fabled “Baby Boomer” generation and have brought their own values to the marketplace.
Millennials (see my blog post on embracing Millennials from eighteen months ago) are known for believing in authenticity and transparency. When it comes to restaurants, they seek “clean” menus and lean toward the organic and locally produced food and shy away from preservatives and artificial anything. More and more frequently, they want the end-product to be at their fingertips, whether it’s a delivered meal or a next day delivery from Amazon. They support businesses which get to know them by building relationships and representing positive social values.
The Millennials and Generation Z Transition
As Generation Z (5 to 22 years old) starts easing its way into the marketplace picture with its 76 million population, are consumer marketers and restaurant owners in particular going to be dramatically refocusing their brands—and company cultures?
It’s early in the game. Understanding “generational” values is based on connecting generalities, and early observations can change over time. Also, a twenty-three-year-old Millennial is going to be more like a twenty-two-year-old Gen Zer than his older forty-year-old Millennial counterpart. But it appears this Homeland Generation—as it is beginning to be called—is more similar to than dissimilar from the Millennials in many core values (other Generation Z naming options include iGen, Post-Millennials, Plurals, Founders).
Millennials were different from the preceding Gen X because they may have had less faith in the future but remained largely optimistic. They were also 20% more likely to eat out, and they helped to build the fast-casual category (Panera, Five Guys, Subway … }.
Millennials are the digital generation and the first to fully connect with the Internet and social media. They quickly learned how to access ratings reviews, comments from friends, general word of mouth, and the many aspects of social media. Mobile provided access to data, information, and menus for “on the go” individuals and group decision making. At the same time, Millennials responded to the opportunity to build more direct and even personal relationships with companies and restaurants, focusing on the authentic, transparent, and trustworthy.
Looking Around the Corner with Generation Z
But while Generation Z grew up living with, embracing, and absorbing a mobile technology, they appear to be wanting greater authenticity and transparency as well as healthier and cleaner restaurant menu options. Like Millennials, Generation Z cares about a company’s cultural and brand values and wants to make a difference as 60% want their jobs to impact the world. After being impacted by both 9/11 and the Great Recession, Generation Z appears to be more loyal to brands than their Millennial counterparts and more risk adverse than previous generations.
As the first generation that truly grew up on it, technology is likely the most significant impactor and shaper of Generation Z. …read more
Read more here:: B2CMarketingInsider