Companies on the test of Generation Z
But how are companies preparing to better intercept this target? We asked six cross-industry managers and each told us a different approach. From Cosmopolitan, which reduced the production of its paper magazines, going from 12 copies per year to 4 copies, thus transforming the magazine into a collector's tool. But also by choosing a multidisciplinary team that could better use engagement tools, from social media to events, through collaborations with universities. Or Lavazza, which is doing in-depth work on language to intercept an audience that is not yet a customer, but will be in the coming years.
And again Kraft Heinz, which rather than dialogue with a single generation has made a cross-generational appeal by launching the Adamo project, a request for support from institutions to combat the decline in the birth rate in Italy, thus becoming the spokesperson for a project of social value. In fact, in Italy the social pyramid has now been reversed. The average age of the population is 50 and only 22% is the 0-24 age group. Among adults, however, only 31% live in a couple with children.
Plasmon's appeal to the institutions is also a request for support for the segment of the population that is experiencing the greatest difficulties today: Millennials are now the most affected by the phenomena of inflation that impact the contraction of spending .
As revealed by the GFK study presented during the Zerodiciotto event, millennials chinese student data and generation z share the same values and with a similar strength . Millennials, however, are in a phase of their lives where affections have taken on a significant weight in daily attention, while the kids of the genz are still searching for their own individuality. A very deep search for the self and amplified by the overexposure to stimuli that this generation of digital natives has always experienced.
If the values are similar, the difficulties are very marked for millennials, who today represent the group most affected by the phenomenon of inflation, especially parents with young children. The frequency of spending has increased but the average value of the receipt has decreased , leading people to change their purchasing habits to try to cope with economic difficulties. Among the categories of consumers, two types of customers have grown in particular, the "promo hunters" who are particularly attentive to promotional and contest activities that allow them to obtain advantages and discounts, and the discount switchers, unfaithful users, who alternate discount stores with other brands to balance their spending.
This growth is particularly significant in the millennial segment. Valuable information for brands and chains. On the one hand, an invitation to companies to strengthen their contest strategy, on the other, the need for the brand to work more on the issues of retention and the relationship with its customers . At the base is an increasingly central theme in all marketing strategies: bringing people back to the center of the brand's attention, seeing them as unique individuals beyond their spending capacity and supporting them in their daily lives.
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