The New Consumer Market
As more Gen-Z consumers come of age their spending power (estimated to be around $44 billion) begins to influence marketing and advertising expectations. As the first generation of digital natives, they’re naturally more inclined to prefer online transactions than millennials or boomers.
According to studies from online advertisers, GenZers depend on digital mediums for their shopping. Currently, 98% of all GenZers own a smartphone and use it to research brands and make orders. As such, many marketers are choosing to pivot their initiatives to be more mobile-friendly. By 2030, mobile ad spending is expected to hit almost $160 billion in order to better reach more primary consumers.
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Writer Ashlyn Jourdan for bottlerocketmedia.net