Millennials vs. Gen Z: Why Entrepreneurs Want to Know the Distinction [New Data]

by | Jul 10, 2023 | Etcetera | 0 comments

In recent years, there’s been a common misconception that Gen Z and millennials are essentially the an identical.

When companies discuss attaining younger audiences, many often lump Gen Z and millennials into the an identical group of workers and create one advertising marketing campaign method that they imagine fits every groups.

Sure, many millennials and Gen Zers are regarded as “more youthful adults.” Every generations are extraordinarily hooked up to generation and the internet. It might seem environment friendly to run one advertising marketing campaign aimed toward every generations, on the other hand is this in truth the right kind switch?

To investigate, I made up our minds to start by way of letting shoppers weigh in on whether or not or no longer or now not the an identical promoting and advertising strategies will engage every age groups.

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In a Lucid poll, I asked 350 people to tell me if, “The an identical promoting and advertising ways in which persuade millennials moreover artwork on Gen Z,” used to be as soon as an actual or false commentary. And if you happen to think shoppers — the people who are being marketed to by way of producers — would sway one way or each and every different, you’ll be capable to be rather surprised by way of the results below:

Lucid poll data for True or False - The same marketing tactics that worked on millennials will work on Gen Z

Wisdom Provide: Lucid Device

Despite the fact that 56% of those polled idea the two generations could be marketed to the an identical approach, with reference to section disagreed.

As a marketer focusing heading in the right direction marketplace enlargement, I sway with the 44% of people who think the an identical techniques may not artwork on every groups — at least now not ceaselessly.

On the other hand is each group of workers of consumers right kind about their perceptions? In this blog submit, I’m going to share the cold, hard main points researchers have discovered about generational similarities and diversifications between millennials and Gen Zers, while every now and then weighing the raw wisdom towards one of the simplest ways regularly shoppers perceive the two generations. And in case you are in a pinch, leap at once to the knowledge you wish to have:

When you take into accounts the generational diversifications on the largest imaginable scale, the oldest millennials are in their early 40s, could be settled down, and could be making higher purchases like cars or houses. The youngest folks of Gen Z are 11 years old-fashioned, might love children’s shows, and may not be without delay making purchasing alternatives any time briefly.

Except the obvious age diversifications above, listed below are six additional parts that make the ones two generations principally different.

Parts That Differentiate Millennials and Gen Z

1. They’ve different attitudes about generation and money.

Figuring out the era an age group of workers grows up in mean you can decide generational commonalities like motivations, spending or saving behavior, or pain problems that every one of them share.

Two problems that differentiated every era’s adolescence era included generation and the commercial device:


The most obvious difference between the eras every era used to be as soon as raised in is the presence of generation. Millennials grew up the use of DVD avid gamers, large personal laptop methods, cell phones with tiny screens, and dial-up internet. In this day and age, we idea the ones technologies have been groundbreaking.

Now, most children and teenagers within Gen Z have get right to use to iPads, smartphones, never-ending Wi-Fi, or streaming products and services and merchandise that put our prized DVD avid gamers to shame. Many people of this era will have moreover grown up in households with early sensible house era.

While millennials watched innovation get started, Gen Z used to be as soon as immersed in it from day one.

On the other hand although Gen Z on no account had to know a time where they didn’t have a groovy tool to resolve basic problems, the impact of generation, the internet, and social media has nevertheless taken a toll on the group of workers.

Analysis shows that Gen Z — which has been referred to as the “socially-conscious technology — gives with far more body image, mental neatly being, and cyberbullying issues than every other age group of workers has previously. Execs have steadily referred to as Gen Z the loneliest technology irrespective of all of their digital connectivity alternatives.

Monetary device

Millennials and Gen Z even produce other attitudes spherical money. While they every care about their worth vary and invest in problems that can strengthen their careers — like higher education.

Every generations are recognized for making improvements to on financial behavior of earlier generations, alternatively, millennials put their money into buying additional products or products and services and merchandise that can give them a excellent experience, while Gen Z is additional concerned about monetary financial savings and smart products.

Millennials throughout the U.S. built up their own worth vary shortly after the Recession, which led to 2009. For a couple of years up until 2019, irrespective of financial woes caused by way of the poor financial device, rising area costs, and most sensible unemployment levels, millennials remained positive about their long run and price range. On the other hand, a little research state that millennials’ monetary optimism is dwindling because of post-pandemic inflation, recession, and marketplace stoop prevalent in 2023.

Gen Z was once born at first of the industrial downturn. For the reason that oldest folks of Gen Z have entered adulthood, research shows that their earlier experience of dwelling throughout the Recession are major them to make additional sensible spending selections.

If you’re promoting and advertising to these generations, you’ll want to consider the ones attitudes about money.

For example, if you want to have millennials to buy your product, you’ll want to focal point on building a brand that provides a delightful or entertaining buyer revel in, along with promoting and advertising products or products and services and merchandise that give rapid gratification. If you’re promoting and advertising to Gen Z, you’ll be capable to want your campaigns to clearly display how or why your product it will be valuable or smart to them in their day by day lives.

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2. Gen Z is a lot more prone to make mobile purchases.

By the use of now, you have to know that both a type of generations are intently hooked up to the internet and social media, While millennials watched the internet develop, Gen Z has used it since a very more youthful age.

On a daily basis, millennials spend spherical 7.5 hours online while Gen Z surfs for just about 10 hours.

Every millennials and Gen Z moreover go online principally with mobile devices, on the other hand a big difference between the ones generations is that Gen Z used to be as soon as nearly raised with smartphones. In keeping with YPULSE, 12 is the average age Gen-Z received their first smartphone, 5 years younger (on affordable) than millennials.

Gen-z was introduced to smartphones at 12 years old, five years younger than Millennials on average

Provide: YPULSE

Gen Z’s mobile-first mindset moreover impacts how they retailer. Individuals of the era are two times as prone to make a cellular on-line acquire than millennials. On the other hand, millennials nevertheless do retailer such a lot on mobile devices. In fact, 71% say they do maximum in their on-line buying groceries with a cellular instrument.

Regarding online content material subject matter consumption, millennials and Gen Z spend most of their time watching films and visiting social media internet sites.

In keeping with a fresh learn about, millennials watch online films for 1.5 hours consistent with day while Gen Z averages over 3 hours. Within the period in-between, every generations are idea to spend hours day by day on social media.

While you have to have already recognized that mobile optimization and video promoting and advertising are a key digital strategies, the ones stats end up that it mean you can zone in on more youthful adult generations. If you happen to occur to in truth want to attract attention from every Gen Z or millennials, you’ll want to create mobile films, mobile ecommerce internet sites, or other phone-based studies that cater to them. You’ll have to moreover you’ll need to market yourself on platforms that’re already mobile, related to number one social media apps.

3. Every spend a lot of time on social media, on the other hand the platforms they use are quite different.

To understand how people perceived every era’s social media usage, I asked the an identical group of workers of 350 people well-known throughout the Lucid poll above to weigh in on which group of workers they idea spent additional time on social media. Here’s what they discussed:

Consumer Opinion Poll Which generation logs on to social media the most using Lucid data

Wisdom Provide: Lucid Device

The poll results above have been moderately minimize up between millennials and Gen Z. On the other hand, 27% of participants say every generations are “always logged on.”

So, who’s in fact one of the most tuned in to social media? Let’s read about what analysis on the ones groups reveal.

The World Monetary Dialogue board reports that millennials are logged at once to social media for an average of two hours and 38 mins day by day while Gen Z logs on for greater than 4 hours every day.

Except the time spent on social media consistent with day, the platforms every era uses are also rather different.

While my era thrived on MySpace and Tumblr and now enjoys platforms like Fb, Instagram, LinkedIn, and Twitter, Gen Z has zoned in on video-based platforms like Instagram, YouTube, Snapchat, and — additional in recent years — TikTok.

A modern Trade Insider survey that polled the oldest a part of Gen Z found out that participants used Instagram, YouTube, and Snapchat most often.

Despite the fact that TikTok appeared a lot much less trendy throughout the Trade Insider survey, this one-year-old platform is without doubt one of the fastest-growing social media apps as a result of booming international Gen Z customers.

Gen Z and millennials do have a few social platform preferences in common. One, for example, is Instagram. While Instagram is older and additional established than apps like TikTok or Snapchat, it is usually pulled in millennials and video-loving Gen Z folks.

YouTube may be a social neighborhood that every generations are prominently the use of. While YouTube used to be as soon as presented when most millennials have been children, 96% of Gen Z customers have accounts on the video-sharing platform. The video platform may be the second-most used search engine and a platform where many in Gen Z and millennial generations opt for product analysis, as 57% of YouTube’s audience consists most effective of the two generations.

4. Millennials take note of ads for a longer time frame.

Each era’s behavior align neatly with its affordable attention span relating to content material subject matter consumption.

While millennials will take note of content material subject matter for 12 seconds, Gen Z will most straightforward focal point on it for 8 seconds. Additionally, Gen Z enjoys immediate or short-form video content material subject matter, like that of Snapchat or Instagram Tales, while millennials worth long-form content material subject matter, related to detailed films or podcasts.

On account of this those selling or promoting and advertising to millennials can get away with rather longer or additional in-depth content material subject matter while those promoting and advertising to Gen Z will want to get their worth proposition out as in short and seamlessly as imaginable in their campaigns.

As I’ve mentioned above, most of nowadays’s social and online platforms are turning into additional video-driven. This mirrors the fact that video usage is emerging in short among each generations.

Whether or not or no longer you may well be increasing long-form content material subject matter for millennials or short-form clips for Gen Z, you’ll want to embody mobile-optimized video when promoting your brand to each audience.

Branded Content material subject matter

In relation to learning about producers or products on social media, every era moreover has its non-public unique preferences. For example, Gen Z prefers to be informed about products by way of social media-based movies and influencer advertising and marketing, while millennials will respond to fairly a couple of promotional strategies at the side of additional conventional on-line advertisements, social media advertising and marketing, and branded podcasts.

Additionally, a fresh survey shows that 87% of Gen Z prefers ads or promoting and advertising content material subject matter that shows actual people discussing products. In relation to millennials, most straightforward 37% select to appear people discussing products in ads or promoting and advertising content material subject matter.

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Except embracing video and mobile optimization, in case you are promoting and advertising to Gen Z, you’ll be capable to moreover want to focal point on content material subject matter that feels additional informative and less like an ad. This era has actively rejected standard selling techniques. For example, 84% of Gen Z will skip video advertisements as in short as imaginable, while 65% have downloaded some form of ad-blocker on their mobile devices or laptop methods.

5. Every generations achieve less than earlier generations.

A common myth about millennials and Gen Z is that every generations are financially illiterate. On account of this seems to be a scorching topic online and throughout pop culture, I performed but yet another Lucid poll, asking the an identical group of workers well-known above to choose which era they idea spent extra money on products.

The Lucid poll below demonstrates this myth and trust as many participants discussed that they believed every era spend a lot of money:

Consumers way on perceived millennial and gen z purchasing habits with Lucid software poll

Wisdom Provide: Lucid Device

Additionally, 36% of survey respondents discussed millennials spent one of the most on products, while the an identical proportion discussed every generations spend a lot of money. On the other hand, less than 20% pointed to Gen Z.

In keeping with fairly a large number of analysis, every generations in fact spend less than earlier generations while the oldest Gen Z people are all for accountable spending.

Most of Gen Z does no longer even have a lot buying power however. On the other hand research from a few belongings, at the side of Vice, Insider, and Adobe say that Gen Z targets to spend cash pragmatically as compared to other generations. Some analysts counsel that Gen Z’s saving manner is routed in budgeting classes that the era learned from the U.S. Recession.

In relation to the Gen Z people who’re old enough to make purchases, research shows that they do a lot much less online purchasing groceries than millennials. A modern know about from Ernst & More youthful well-known that 74% of millennials and most straightforward 49% of Gen Z acquire products online more than once a month.

On the other hand, while Gen Z buys a lot much less online, they expect additional added supplier from a brand after they make purchases. The an identical E&Y know about found out that 80% of Gen Z valued unfastened supply. The know about moreover found out that 74% of Gen Z values producers that give out discounts or coupons over other firms.

While millennials are rather a lot much less frugal than Gen Z, the idea that that the older era is additional frivolous may be a huge misconception. While many millennials acquire their justifiable share of products, as well as they earn extra once a year than most older generations, are probably the most skilled age group of workers, and are considerably positive about their futures.

6. They’ve different occupation motivations.

Every generations have in common that they have located importance on investing in school or abilities training.

While older generations might afford every properties and schooling, millennials to find housing out of economic achieve and have basically concerned about paying most sensible costs of tuition.

Irrespective of increasing educational costs, the rage of investing in education isn’t expected to switch for each era. While 10% of Gen Z teenagers are saving for school, millennial other folks are placing extra into their kids’s faculty price range than earlier generations.

Having a look at every era’s artwork behavior can get a hold of a sneak peek into what their worth vary and day by day motivations could be one day.

While every millennials and Gen Z are driven by way of higher education and occupation enlargement, they nevertheless have a few slight diversifications that you have to want to know about, in particular in case you are a marketer in educational or B2B fields.

Lately, many millennials are working or are enrolled in higher education. For all of the decade between 2020 and 2030, millennials will contain the most important proportion of the workforce, representing 40% of the global working-age population by way of 2030.

On the other hand, although most of Gen Z continues to be in school, they’re moreover very career-minded.

In relation to in search of jobs, Gen Z adults are additional financially motivated than the millennial technology. In fact, 65% of Gen Z group of workers worth salary over other task perks as 74% 2023 US graduates surveyed mentioned they prioritize steadiness and wage from employers, outweighing parts at the side of a recognized employer brand, a fast-growing field, or normal benefits. Those throughout the age group of workers moreover say they are going to invest in talent training if it method they make more cash.

Gen Z moreover applies for jobs additional aggressively than earlier generations. Best 10% of the technology starts their task search after college while most Gen Z students get started scouting out task alternatives between freshman and sophomore yr.

So, what does this indicate on your marketing strategy? Both a type of generations are hard staff, extraordinarily professional, and might earn more than earlier generations.

On the other hand, Gen Z is additional driven to make and get monetary savings. On account of this to persuade Gen Z, you have to want to take overtime to brainstorm campaigns that show how your product will have the same opinion them and why it’s worth their money. Odds are, they’ll be additional persuaded by way of the practicality of a product than the “trendiness” of it.

One of the best ways to Market to Each Technology

Positive, every generations have a lot of problems in common.

And while there are options to market to every generations right away, it’ll neatly be additional actually helpful to brainstorm inventive campaigns that zone in on one era or the other. To help you develop one way that really helpful houses attention from the right kind audience, listed below are a few takeaways related to every era:

Promoting Advertising and marketing marketing campaign for Millennials

By the use of now, you could be most acquainted with promoting and advertising to millennials. Fortunately, they’re moreover a really perfect era to market to. They’re on the most prominent social media networks nowadays and want to consume a few different forms of multimedia content material subject matter, from films to podcasts. They’re moreover old enough to make purchasing alternatives, are additional professional than previous generations, and spend really extensive time throughout the research stage previous than buying a product.

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Essentially, many quite a lot of formats of selling content material subject matter will engage millennials on account of they’re often having a look to be enticed by way of a brand spanking new product that can have the same opinion them in their day by day lives.

On account of millennials have a rather longer attention span than Gen Z, you’ll be capable to moreover get reasonably additional inventive by way of trying out out longer-form content material subject matter like longer promoting and advertising films or branded podcasts.

The most productive forms of promoting and advertising campaigns will inform millennials about how your product may just make their lives easier or how it can treatment their day-to-day problems. Focusing your method on social media or online platforms like Fb, YouTube or Instagram, where many adults transfer to investigate products may also be actually helpful for your method,

Promoting Advertising and marketing marketing campaign for Gen Z

To successfully persuade Gen Z to buy your product, you’ll want to make content material subject matter that in short cuts to the chase and explains why your product will provide worth to them.

As mentioned above, Gen Z loves to use video to be informed about products and spends most of their online time on cell phones. So that you’ll need to leverage short-form video formatting and mobile-optimized content material subject matter for your campaigns.

You’ll moreover want to zone in on the house of hobby social media platforms that they ceaselessly use, related to Instagram, YouTube, TikTok on Snapchat. If you’re now not on this kind of platforms, on the other hand nevertheless want to reach brand awareness there, believe sponsoring an influencer who’s acutely aware of the objective marketplace and create content material subject matter that discusses your product.

Promoting Advertising and marketing marketing campaign for Gen Z and Millennials

If you happen to occur to fully can’t worth vary pinpointed campaigns for millennials and Gen Z, on the other hand know you need to market to more youthful adults, focal point on the cusp of every generations by way of creating a advertising marketing campaign for 18 to 34-year-olds. This will likely most probably imply you’ll zone in on more youthful and rather older adults that can in fact make purchasing alternatives.

While a advertising marketing campaign with this age function could be rather additional favorable to millennials between 27 and 42, there’s nevertheless a possibility you must grab attention from older kids who will briefly be able to make additional purchases if they are able to’t already.

Irrespective of the differences between the ones two generations, there are also two huge similarities: every love social media and rapid gratification. Be sure that your advertising marketing campaign clearly explains why your product it will be valuable to the age group of workers you may well be pitching it too, and leverage the social media networks that the age group of workers you may well be focused on has in common.

For example, in case you are concerned about promoting your product to people throughout the 18 to 34 range, you’ll want to be on Instagram, YouTube, and Facebook, on account of most folks of this age group of workers are the use of all 3 of them ceaselessly.

If you happen to’ll be capable to create a advertising marketing campaign that leverages key social networks accordingly while highlighting why your product is so right away satisfying and useful, you have to attract hobby from every groups moderately in short.

Pointers for Figuring out Your Target market

As you create campaigns spherical a selected audience or age group of workers, you must do digging to be informed what motivates this group of workers of people, what their purchasing behavior are, where they spend one of the most time, and what they’re in search of in a product. Listed below are a few tips that mean you can in this research:

  • Identify explicit demographics: Take a look at not to be too explicit or too massive. Select an audience you’ll be capable to learn such a lot about in short that neatly aligns at the side of your product and get began researching that demographic.
  • Know about their artwork and education backgrounds: This will provide you with belief on what motivates them and how much they may be able to spend on a product.
  • To find out which social platforms they use: When you do this, you’ll be capable to research every platform and leverage it as it should be everywhere your advertising marketing campaign.
  • Consider writing a buyer personality: A buyer personality is a fictional personality that has a very an an identical way of living for your superb buyer. Having a personality in ideas mean you can in short take into accounts campaigns and methods that they’re going to engage most with. It’s also a handy place to arrange your entire detailed research findings into one simple place.

Need to learn additional about Gen Z or millennials in particular? Check out this blog submit on advertising and marketing to Gen Z or this piece on millennial advertising and marketing.

Editor’s practice: This text used to be as soon as to start with printed in December 2019 and has since been up to the moment for comprehensiveness.

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