Gen Z Wants Two-way Communication With Brands, Product Co-creation

Gen Z is on track to be the largest, best educated, most financially powerful and diverse generation, according Lizzy Eisenberg, director of market development for Afterpay, who shared stats about the consumer segment aged 4 to 24. “Many are super young and haven’t come into their spending power yet, but they are still spending $143 billion today,” she said, noting that some of that is their parents’ money, but that most of her research tracked consumers ages 16 to 24, who have their own money. Key takeaways from the buy-now, pay-later platform’s demographic findings are that more than 50 percent of Gen Z identify as multiracial, and they are socially conscious, with 77 percent willing to pay more for environmentally friendly product. These digital natives have short attention spans — just eight seconds compared to Millennials’ 15 seconds — and they are spending three hours a day on social media. When it comes to content, they prefer video. “Think sight, sound and motion when it comes to storytelling,” said Eisenberg, noting that TikTok is a platform that brands looking to engage Gen Z should focus on, as well as YouTube, which 85 percent of today’s teens use. When it comes to shopping, Gen Z

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