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HISPANIC MARKET OVERVIEW 2019 Powered by HispanicAd.com
HMO2019 IN DEPTH
AVOIDING STATIC ON ‘CHANNEL Z’
Had enough of millennials and the unfulfilled marketing and advertising goals presented to a generation marked by extreme student debt and $12 avocado toast Sunday Fundays? While the elder American and the efforts of AARP have done much to awaken marketers to the 50+ consumer, Generation Z beckons – and is exciting many.
Generation Z is poised to become the dominant market force within the next three to five years, providing the marketing and advertising industry with a prime opportunity. To prepare for the changing expectations and demands from this new generation of customers, marketers and advertisers need to experiment with new platforms to make it easier for customers to create their own content, prioritize personalization and explore new techniques for ad placements, says Cognizant.
To explore this massive shift, Cognizant partnered with The Center for Generational Kinetics on new research that explores the attitudes, expectations and digital consumption
habits of Gen Z. The results reflect distinctive generational differences and preferences when it comes to how Gen Z want to engage with content.
As shared in early June, key findings from the survey include the following takeaways:
· Gen Z want to control their content: Today’s younger generations crave deeper interaction and more control over content with 45% of Gen Z agreeing they would like the option of being able to control the content of a movie or TV show specially in collaboration with (or in competition against) other users.
· Gen Z want immersive and interactive content: Content is changing with more than 50% of Gen Z indicating they were likely or very likely to use Virtual Reality (VR) to watch shows and movies or play games in the next three to five years. Likewise, with social media and YouTube taking the two top spots for preferred content with Gen Z media and entertainment, companies need to be prepared to experiment more with short-form programming and adapting engagement models.
· Gen Z want personalization and transparency: Gen Z want information targeted to them to be personal, with 38% preferring online ads to be related to their browsing history or entertainment preferences. This generation is also the least concerned that their online information will be used against them, with 32% admitting to not being concerned that companies will use their personal online data in a way that could harm them.
· Gen Z prefer word-of-mouth: Gen Z’s purchases are increasingly influenced by social media personalities and user-generated content. In fact, 35% of Gen-Z thinks user-generated content will have