Millennials and Generation Z. Generation matters when it comes to selling

Differences between generations have always existed. It is normal for people who have lived in a similar temporal situation to share certain characteristics or behaviours influenced by the environment. All these nuances also have an impact on purchasing habits and preferences, and we can see different trends depending on the generation of consumers. 

It is important to take these differences into account when establishing a relationship with your target audience because, depending on their generation, you will have to emphasise certain aspects of your message to capture their attention. In this post we tell you about the differences between the Millennial generation and generation Z, two of the generations with the strongest presence in online channels.

The Millennial generation is made up of those born between 1982 and 1995. They are people who entered adulthood at the turn of the century, growing up with technology. They are also known as the bridge generation, as they are both economically and digitally literate, making them a very attractive segment for companies.  

The main characteristics of millennials, based on the article Who are millennials and why are they a unique generation?, published by BBVA, are mainly the following: 

1. People who are hyper-connected to the digital world, aware of the latest trends and looking for experiences. They are continuously connected and sharing or consulting all kinds of information.

2. Very sociable people, who have lived through the revolution of social networks and mobile devices, so a large part of them have profiles on one or more social networks, sharing their interests.

3. Critical and very demanding people, who attach great importance to customer service. They pay special attention to the recommendations of people close to them, such as family and friends. 

4. They look for personalisation of products, expecting them to meet their needs. They expect companies to meet their demands in a close manner and with good results. In addition, they attach great importance to the company having certain values such as transparency and sustainability.

5. They are highly educated, due to greater opportunities, and are global citizens who identify with people from other cultures and geographic areas. 

Generation Z is made up of people born between 1995 and 2010. They have lived through the rise of social networks and the Digital Era, so they cannot conceive of the world without the internet.

Like millennials, this generation makes up a significant percentage of the world's population, so if your business wants to target this audience, it should pay attention to the characteristics and needs of this segment of the population. 

Some of the characteristics of generation Z, according to the article published by the Vodafone Enterprise Observatory, 'Generation Z': responsible and creative consumers, and involved prescribers, are:

1. Environmental awareness, as they were born in the midst of a climate emergency. They have a great social commitment and are very supportive. They feel responsible for taking care of the environment around them. 

2. Digital natives, as they have technology very much integrated into their lives. They understand the digital world in a different way to the rest of the generations.

3. Creative, self-taught and self-sufficient people, who are highly trained. In addition, due to job instability, they know how to carry out multiple tasks at the same time. They tend to be more entrepreneurial, to learn quickly and to seek to link their working life to their passions.

4. Consumers of content on smartphones, mobile phones or tablets. They have a great command of technology and spend several hours a day connected and enjoying all kinds of content. For this generation it is essential to share the experiences they live. They use social networks to communicate and interact with other people, as well as to get information.

5. They are known for their immediacy, because they are continuously connected to the internet, so they have always had access to any type of information in a simple and quick way.  

In the business world, when setting the roadmap for the strategies to be carried out, it is essential to know the social and cultural context in which the different generations live or have lived in order to have a more direct impact on the target audience. 

This knowledge of the characteristics of your consumer will help you to develop your retail strategy, allowing you to establish a more direct connection with your audience.

Knowing the consumer habits of your retail audience is essential to correctly define the digital transformation strategies of your business. Understanding your customer and analysing their preferences based on their generation can help you better target your product portfolio to meet their needs. Creating customer segments will also allow you to communicate with your clients based on their values, ideals, lifestyles, tastes and preferences, establishing an emotional connection that promotes the durability of the relationship over time.