App Annie, the mobile market data and analytics firm, released a report today on how to win over the hearts of Generation Z, or the folks under 25 that can’t be found via traditional media. And here’s a hint: you can target them with finance and shopping apps.
This demographic is now the largest population on Earth, and it is a mobile-first generation. In the U.S. alone, 16-year-olds to 22-year-olds spend $44 billion annually and influence an estimated $600 billion in spending.
“Gen Z is the first generation to grow up on mobile,” said Ted Krantz, CEO of App Annie, in a statement. “They already influence $600 billion in spend in the U.S. alone — companies need to aim for them now or risk missing the target tomorrow. As the mobile landscape becomes more complex, App Annie is committed to helping customers get the critical insights and outcomes they need to fuel long term success.”
Forward-thinking brands understand that Gen Z’s purchasing power is set to take off as they now begin to enter the workforce. Gen Z is still forming brand preferences and represents a blue ocean opportunity for marketers hoping to effectively engage this group. But first, companies need to understand how this demographic uses smartphones and apps, the company said.
Some noteworthy statistics about Gen Z that show the unique behaviors facing publishers and brands:
- Gen Z spends 3.7 hours per day in apps (excluding games)
- Gen Z behavior and favorites vary by market. For example, Gen Z users in Japan spend two times more time in games than the global average