We spoke about millennials last May, but this month let’s look at the subsequent demographic group, generation Z, born between 1994 and 2010, representing 25.9% of the world’s population.
Consumption theory indicates that the 18 to 24 year old population group is the most influential and progresses by pushing harder than any other generation. This generation does not accept playing a passive role for brands and publications; they want to produce their own content.
Initially leading brands were somewhat taken aback, but they are now on board with the trend. Some companies are already launching campaigns involving the consumer in the product development process, such as Starbucks (with their personalised recipes) or Nike (enabling customers to design their own shoes). Creative participation rather than simply personalisation is in vogue. Companies should follow that strategy to assert themselves with their new customers.
This is an altruistic, non-egotistical generation. They will prove upstanding and politically sensitive to issues such as economic and social inequality. They will look for jobs with meaning and which help them change the world.
Generation Z haven’t just been born within the digital domain. Living without technology is something they can hardly comprehend. They use the Internet to search for information from its portals, social networks, and video sharing websites.
Generation Z cannot see a world without instant access to the Internet from any device. Generation Z grew up within a scenario of uncertainty, marked by the post 9/11 worldwide economic recession. The perception of the world changed, social diversity increased, some social roles changed, and they specifically learned how to progress during difficult times. They are very mature, self-sufficient, and creative young people. They seek out memorable purchasing experiences that provide added value. Despite their current lack of purchasing power, brands need to consider this group to maintain their market positioning.
This means many brands look out over a new panorama of possibilities in which to unleash their creativity, as well as generate appealing and original content. Technology based ideas, such as augmented and virtual reality, are some of the best examples of this type of content.
As manufacturers, Balliu contemplates important aspects such as furniture personalisation. Ensuring our customers feel involved in each project is important to us, which is why we offer product personalisation options, such as the frame fabric finish or adding their own, exclusive logo.
Satisfying our customers’ needs is one of our main concerns. We analyse and work on developing proposals and designs with our distributors in order to create the most convenient and ideal solutions for every market.