Analyzing Business Insider’s Gen Z comments: As a Gen Z’er

  • First off, it’s true that we aren’t responsible for a bulk of our spending, if a company’s brand influences us, then we will convince our parents to buy it for us. On the other hand though, Gen Z does spend some of our own money through debit cards. Most of us work jobs and make money resulting in a little bit of disposable income. We usually don’t spend this income on massive purchases, but instead spend it on things like food and other cheap services and products. One other life transition that companies should get involved in is when we start driving. Once we start going to get food and shop with friends, our spending increases dramatically.
  • Those who do not use their digital wallet for debit cards or plane tickets are missing out. It makes life so much easier just to double-click the power button on your phone to display all your cards. Some schools even allow for students to put their student ID card virtually in their apple wallet. This is where opportunity lies, if you can create a product that uses a card or ID of some sort, try to link it with the apple wallet. The wallet improves the customer experience by removing the friction of remembering all your cards and taking out your wallet. Use the wallet to your advantage and gen z will appreciate it.
  • BI research says that “firms must develop products that are social, authentic, digital-native, and educational, offer value, and evolve over time”. I see three key pieces that are important overall else, Authenticity, offer value, and evolve over time (adaptability). Authenticity because as a generation, we want to see a product be true to itself, no scams or anything like that, offer what you say you’re going to offer and stay on that path. Second of all, this service needs to have good value to us or we simply won’t use it. That’s pretty simple. Most importantly the product needs to adapt and continue to change and offer new services. We will get bored of a product that stays the same for more than a few months, so add new features or change the UI/UX. Look at Robinhood for example, they introduced cryptocurrencies on their platforms and recently tried to change the UI around.
  • This was a feature piece in our most recent newsletter. Subscribe here https://www.genzvoice.com/subscribe.

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