Gen Z is the most digitally active generation so far, with more participants than Millennials on nearly every social media platform. Platforms such as YouTube, Instagram, and TikTok provide hours of entertainment for Gen Z, and this is directly affecting the ways in which they are choosing which products to buy.
With Gen Z spending so much time on social media, they are exposed to hundreds of ads each day across different platforms. 2 in 3 Gen Z’ers purchase directly through social media by clicking on these ads which lead directly to a company’s website. Many companies are learning this and are trying to get their ads on popular social media sites like YouTube and TikTok to increase the chances of Gen Z purchasing their products.
It is expected that by 2031 Gen Z’s income will increase 5x. This will surpass Millennials income, reach over one quarter of global income, and grow to over 2 trillion in global earnings! With Gen Z expected to bring that spending power to the market, brands are changing the way they market to ensure they remain relatable to this new group of customers. With the large amount of Gen Z spending most of their time online, the best way for brands to reach them is through social media advertising, a brand new way to market to an important new generation.