Are you thinking about Gen Z yet? Millennials are about to be old news, and the generation following them has a completely different set of needs and values. This new group is going to be our target renters before we know it. For some properties, they already are.
So who is Gen Z? They were born after 1995, which means the oldest of the group is already 21. While we don’t know much about Gen Z yet, we do know a lot about the environment they are growing up in.
During Gen Z’s most impressionable years, the world has been very volatile, specifically the economy and environment. They view the future as being pretty bleak, but they are idealistic and want to create change in the world. Now don’t confuse this generation’s mindfulness with belief in the American Dream. They are fully exposed to the economic decline and increasing fragmentation in the country. This includes fragmentation in families, the media, religion, politics, and demographics. Due to their exposure, Gen Z is independent and pragmatic.
This generation also wants everything, everywhere, and immediately. As a result of never having a world without internet, patience is not a characteristic. They are the earliest adopters of technology, and if what they want isn’t available, they will create it. They constantly self-educate with YouTube and other video and collaboration sources, which potentially creates a generation of future entrepreneurs.
Because Gen Y was the first to experience their personal lives on social media, Gen Z witnessed and learned from their mistakes. Gen Z understands the value and importance of a personal brand. This doesn’t mean they don’t expose themselves; some of their closest relationships come from social media. They are simply conscientious about what they choose to share.
It is time to prepare for Gen Z. How are you going meet their technology and environmental needs?
Misty Sanford, Founder
North of Creative