A generation is a group of people born around the same time. There are differences between the values, beliefs and opinions between each group. For marketing and advertising, we deal with Boomers, Gen. X, Millennials, and Gen Z as of today. Here are some interesting differences in the way that generations deal with commerce.
Gen Z often discover new products on social media but would prefer to purchase in store according to State of Consumer Trends Report.
However, that being said, Gen X and Millennials prefer retail stores and internet searches to discover new products. Although,51% of Millennials discover new products on social media as well. Gen X prefers retail stores for new product discovery (HubSpot).
Gen X will research a product to death to avoid regretting their purchases (Salesfloor).
All three generations say price as the most important motivator for brand loyalty and purchases (Data Axle).
82% of Millennials say word-of-mouth is key influencer of purchasing decisions (Salesfloor).
This is only the tip of the iceberg for how generational differences can affect the way your brand will have to tailor the marketing and advertising experiences. To properly understand what motivates your target market you must first identify what it is and then research what motivates them.
