Millennials—an influential generation because of their size and their budget-minded, (some would even say “finicky”) buying habits—have been top of mind for retailers and brands in recent years. But Generation Z is coming into focus these days as the oldest of that group enter their twenties and begin their purchasing years in earnest.
Gen Z are different than Millennials, Baby Boomers and Gen X in important ways. For one thing, while the Millennial and Baby Boom generations are thought of as huge cohorts, there are many more people who are members of Gen Z (born more or less between 1995 and 2014): Their number is set to reach 2.6 billion by 2020, according to a study for the National Retail Federation from IBM. Another key difference is that these consumers are the first to know the world as connected by the internet and by smartphones, perceiving it as always on, and interconnected at all times.
“Generation Z expects technology to be intuitive, relevant and engaging — their last great experience is their new expectation,” said Steve Laughlin, IBM General Manager of Global Consumer Industries. “This presents a significant challenge for retailers and brands to create a personalized, interactive experience with the latest digital advances or risk falling behind. This kind of innovation is not linear or a one-time project — it is a new way of thinking, operating and behaving.”
Read more at Carved in Blue.
This article is one of a series on Rivet from Lenzing’s Carved in Blue denim blog. From conversations with the experts behind the mills that make some of the world’s most-wanted denim to the global brands bringing novel denim made with TENCEL® and Lenzing Modal® to the market, Carved in Blue shares the stories of those whose roots run deep with denim. Visit www.carvedinblue.lenzing-fibers.com.