The current situation:
In 2022, Gen Zers aged 18 and up and Millennials were a combined population of approximately 112 million, making them a lucrative demographic for marketers. This group spans the ages of 18 to 42, and their social media habits are extremely different from their Gen X and Boomer counterparts.
When it comes to social media, contradictions exist. For example: 56% of Gen Z/Millennials say social media is their primary source for news; however, 44% also say they have less trust in the information they get through social media now versus three years ago. Like we said – it’s complicated.
What they’re saying:
The platforms used by Gen Z and Millennials and how they use them are vastly different than the older generational cohorts. For example, 66% of Gen Z/Millennials use TikTok, which is significantly higher than Gen X (49%) and Boomers (10%). Here are some additional social media use data for Gen Z/Millennials from this week’s Consumer Pulse:
• 80% follow one or more brands on social media.
• 88% use social media for brand or product recommendations.
• 75% have purchased a product based on seeing a social media ad.
This week’s Consumer Pulse will provide you with helpful social media information for the four primary generational cohorts.
Why it matters:
It is estimated that more than $68 billion will be spent on social media advertising in the U.S. in 2023, a number that will grow to $75 billion next year. Understanding the role that social media plays in your target consumer’s path to purchase – how they use it and their attitude towards it – will help you curate your social media ad strategy and improve your ROAS.
Do you want to take the Pulse of your customers? Our Insights team will partner with you to design a study that will help you better understand your customers and their problems, and how your brand can win at retail.
To get additional insight into what this means for brands and retailers, read the entire study.
