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Meet Your Newest Customers: Generation Z

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If you’ve started to suffer from MHO (Millennial Hype Overload), rest easy: Generation Z is coming.  OK, so the oldest are just 19 years of age, but marketers are already beginning to try to break down and classify this cohort that will outnumber its older Millennial siblings by about one million.  As this generation comes of age, how will their jewelry buying habits differ?

Trace
Shelton



Editor-in-Chief
of INDESIGN Magazine and Contributing Editor of INSTORE.
I

f you’ve started to suffer from MHO (Millennial Hype Overload), rest easy: Generation Z is coming.  OK, so the oldest are just 19 years of age, but marketers are already beginning to try to break down and classify this cohort that will outnumber its older Millennial siblings by about one million.  As this generation comes of age, how will their jewelry buying habits differ?

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While there’s no definitive answer since they haven’t reached jewelry buying age yet, there are clues that can help jewelers begin thinking about how to reach future Generation Z buyers.  They will be like the Millennials in their technological savvy – most will not remember a time before social media, and their attention span is here one second and gone the next.  But one major difference is that where Millennials hang their dirty laundry out on Facebook, Instagram and Twitter for the world to see, Generation Z is much more privacy-conscious, preferring media like Snapchat, Secret and Whisper, where anything incriminating disappears after a short amount of time.  They’ve seen the price their elder brothers and sisters have paid for their hubris, and they’ve learned from it.

This caution will extend to other decisions as well.  Just as Millennials echoed their Baby Boomer parents’ larger-than-life characteristics, Generation Z will take after their Generation X parents’ safety-conscious, jaded outlook.  They’ve grown up in a post-9/11 world that’s undergone recessions and a growing sense of political discord.  As a result, Generation Z will place great importance on being “mature and in control,” according to a Sparks & Honey trend report. 

The New York Times recently asserted that Generation Z’s sense of privacy, caution and sensible careers reminds some of the Silent Generation who were shaped by the Great Depression and World War 2.  That generation was incredibly career-oriented, and was also one of the richest generations in history.

If that does indeed hold true of Generation Z, jewelry retailers will do well to emphasize security and safety in their presentations, emphasizing warranties, reliability and trustworthiness.  They will be extraordinarily discreet and will prioritize value as much as flash.  Certainly, the kids of Generation Z enjoy having fun as much as the next person, but they prefer to do so while maintaining their privacy and sense of well-being.

For more details on Generation Z, check out this New York Times article here.

 

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Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

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Meet Your Newest Customers: Generation Z

Published

on

If you’ve started to suffer from MHO (Millennial Hype Overload), rest easy: Generation Z is coming.  OK, so the oldest are just 19 years of age, but marketers are already beginning to try to break down and classify this cohort that will outnumber its older Millennial siblings by about one million.  As this generation comes of age, how will their jewelry buying habits differ?

Trace
Shelton



Editor-in-Chief
of INDESIGN Magazine and Contributing Editor of INSTORE.
I

f you’ve started to suffer from MHO (Millennial Hype Overload), rest easy: Generation Z is coming.  OK, so the oldest are just 19 years of age, but marketers are already beginning to try to break down and classify this cohort that will outnumber its older Millennial siblings by about one million.  As this generation comes of age, how will their jewelry buying habits differ?

Advertisement

While there’s no definitive answer since they haven’t reached jewelry buying age yet, there are clues that can help jewelers begin thinking about how to reach future Generation Z buyers.  They will be like the Millennials in their technological savvy – most will not remember a time before social media, and their attention span is here one second and gone the next.  But one major difference is that where Millennials hang their dirty laundry out on Facebook, Instagram and Twitter for the world to see, Generation Z is much more privacy-conscious, preferring media like Snapchat, Secret and Whisper, where anything incriminating disappears after a short amount of time.  They’ve seen the price their elder brothers and sisters have paid for their hubris, and they’ve learned from it.

This caution will extend to other decisions as well.  Just as Millennials echoed their Baby Boomer parents’ larger-than-life characteristics, Generation Z will take after their Generation X parents’ safety-conscious, jaded outlook.  They’ve grown up in a post-9/11 world that’s undergone recessions and a growing sense of political discord.  As a result, Generation Z will place great importance on being “mature and in control,” according to a Sparks & Honey trend report. 

The New York Times recently asserted that Generation Z’s sense of privacy, caution and sensible careers reminds some of the Silent Generation who were shaped by the Great Depression and World War 2.  That generation was incredibly career-oriented, and was also one of the richest generations in history.

If that does indeed hold true of Generation Z, jewelry retailers will do well to emphasize security and safety in their presentations, emphasizing warranties, reliability and trustworthiness.  They will be extraordinarily discreet and will prioritize value as much as flash.  Certainly, the kids of Generation Z enjoy having fun as much as the next person, but they prefer to do so while maintaining their privacy and sense of well-being.

For more details on Generation Z, check out this New York Times article here.

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/* * * CONFIGURATION VARIABLES: EDIT BEFORE PASTING INTO YOUR WEBPAGE * * */
var disqus_shortname = ‘instoremag’; // required: replace example with your forum shortname

/* * * DON’T EDIT BELOW THIS LINE * * */
(function() {
var dsq = document.createElement(‘script’); dsq.type = ‘text/javascript’; dsq.async = true;
dsq.src = ‘http://’ + disqus_shortname + ‘.disqus.com/embed.js’;
(document.getElementsByTagName(‘head’)[0] || document.getElementsByTagName(‘body’)[0]).appendChild(dsq);
})();

Please enable JavaScript to view the comments powered by Disqus.
blog comments powered by Disqus

Advertisement

Continue Reading
Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Retirement Made Easy with Wilkerson

The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.”

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