The next generation of customers and employees, from Millennials and beyond, want the companies they purchase from and interact with to be actively invested in the betterment of society and engaged in providing solutions for social and community problems.
Why should you care? Because the estimated purchasing power of Millennials’ in 2018 was $3.39 Trillion Dollars.
And Gen Zs go even beyond the expectations Millennials have for the companies and brands to which they are loyal. Gen Zs see the brands they engage with as way to craft and articulate their own identities.
And Gen Zs are expected to be the largest consumer spending generation in history by the year 2025.
This next-generation of consumers will also be the most socially collaborative and involved generation in history. They say ‘let’s do something’ and then begin the process of how to do it with other people in their peer circles and community.
To engage these future customers and employees brands will need to engage in real and meaningful activities that solve real problems for individuals and communities.
Do you know what is important to them?
Do you know how, when and where do they want your brand to engage in meaningful work?
Do you know what types of social responsibilities are critical to them from your brand?
Brands who can answer these questions and then align marketing dollars with cause related matters will be well on the road to successfully creating a loyal base next generations of customers.
The brands that pivot into this new marketplace will thrive.
And who knows, they might actually solve some pretty big problems along the way!